UK-based Oakley Capital Management has agreed a deal for sailing technology business North Sails Europe.
The deal will see North Sails merge with US-based North Technology Group, which the firm bought through the OCPE II Master Fund in March.
North Sails Europe operates sales and services sites in 13 countries and has manufacturing sites in six countries.
The company had revenues of more than €56m in 2013, with the enterprise value for the business €30m.
Oakley director Peter Dubens said,”We are delighted to be backing an iconic brand like North Sails.
“The acquisition of the European distributor and licensee will allow North Sails to provide seamless service, products and technology on a global basis.”
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