Northern Europe-focused private equity firm Nordic Capital has confirmed that its Fund VII vehicle is to acquire home shopping businesses Ellos and Jotex to further increase its footprint in the Nordic retail sector.
According to Nordic Capital, the two companies – which are both headquartered in Borås, Sweden – form the largest marketplace for clothing and textiles in the region.
The businesses will further expand Nordic Capital’s already significant presence in the regional retail market.
Nordic Capital Fund VII’s current holdings include retail companies Tokmanni in Finland, Europris in Norway and Sport-Master in Denmark, while the firm’s previous investments include clothing business KappAhl.
John Hedberg, NC Advisory AB principal, said, “Home shopping is on the rise and this acquisition provides a unique opportunity to contribute to the future growth of Ellos and Jotex.
“Nordic Capital looks forward to working with the management team to continue developing the company’s range of goods and already strong e-commerce solution.”
Nordic Capital Fund VII currently has €4.3bn in committed capital.
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