Quadriga Capital has acquired German outdoor-clothing maker Jack Wolfskin from Boston-based investment firm Bain Capital in a deal reported to be worth more than $120 million (€93 million).
Jack Wolfskin provides clothes, footwear and outdoor sporting goods including tents, backpacks and other travel equipment. Based in Idstein, Germany, the company operates through a network of 60 retail stores as well as selling its products through other retailers.
Bain acquired the company in 2002 following its divestment by international travel equipment company Johnson Outdoors Inc. in a deal worth $63 million.
Following the latest buyout the company’s management will increase the stake it holds in the company. Andreas Fendel, a founding partner at Quadriga, told the Wall Street Journal that the firm plans to extend the company’s operations in Europe.
Quadriga Capital is a Frankfurt-based firm that undertakes mid-market buyouts in German-speaking countries. Its portfolio companies have included Swiss textile company Zellweger Uster, German injection-moulding company IBS Brocke, and P.A.L.M. Microlaser Technologies.
Bain Capital has more than $14bn of assets under management. It invests in five sectors: information technology, industrial and manufacturing, communications, healthcare and retail and consumer products.