CCM Hockey acquired by Nordic-based Altor

CCM Hockey, one of the leaders in equipment manufacturing worldwide, has a new partner. On Wednesday, Nordic-based Altor Fund VI (Altor) acquired a majority stake in the company that has been making hockey gear for 125 years.

According to a report from The Globe and Mail, Altor purchased the stake for $600 million.

“CCM is a fantastic company with an iconic brand and impressive history,” Altor partner and head of the consumer sector, Andreas Källström Säfweräng, said in a release. “We understand why sport lovers have turned to CCM for quality equipment for over a century. We are impressed by the durability and innovation that continues to keep the performance of their products at the forefront … Together, we will continue the tradition of making sure that all players and goalies are represented in the best possible way in the sport they love.”

While some might not know the Altor name in North America, the private equity firm has earned a reputation for building world-class sporting and consumer brands, working with close to 100 companies. They will be joining a tradition at CCM, the Canadian-based company that has been producing equipment since 1899, supporting growth opportunities in both current and new products, markets and segments of their business.

“Over the years we have built a strong team, attracted loyal customers and placed products innovation at the center of our strategy to secure long term success,” CEO at CCM Hockey, Marrouane Nabih, said. “As we celebrate our 125th anniversary, we are entering an era where we will truly benefit from Altor’s long experience of backing renowned sporting and consumer brands and helping to unlock new growth opportunities.”

CCM will continue to operate its business as per usual, with its headquarters remaining in Montreal, along with operations across Canada, the United States, Europe and Africa.

According to the company’s release, the plan is for the transaction to close by the end of this year.