Reima sold to global private equity firm Riverside

Reima sold to global private equity firm Riverside

Vaaka Partners has sold Reima Oy, a leading children’s wear brand in Northern Europe, known for high quality children’s outdoor clothing, selling under the brands Reima, Lassie, Tutta and Progress. Global private equity firm The Riverside Company will acquire Reima from Vaaka Partners and management, who will invest alongside Riverside and remain with the company in their current capacities.

Reima is headquartered in Vantaa, Finland, and is active in seventeen countries, with a focus on the Nordic region and Russia. Founded in 1944, Reima is one of the oldest and most recognised brands of children’s clothing across Northern Europe.

“Together with the management team, Vaaka Partners has elevated Reima from a national leader to an international children’s wear group. What is more, Reima has achieved strong profitable growth throughout the financial crisis. We are convinced that Riverside, with its global reach, can further strengthen Reima’s international growth” says Partner Reijo Grönholm of Vaaka Partners. “I am very pleased with the transaction”, continues Mr Grönholm.

“I would like to thank Vaaka Partners’ Reima team for its truly hands-on approach. Our success has been a result of thorough planning and disciplined execution of the commonly created strategy. We are also very excited about teaming up with Riverside for the next phase of our growth plan. Riverside’s long and successful track-record of supporting its portfolio companies, as well as its global network will facilitate Reima’s continued growth path.” says Reima CEO Christopher Silcowitz.

“Reima has an excellent brand and strong market position in Northern Europe, widely known for its superior quality for children’s clothing. We are looking forward to partnering with management to grow the company further in existing and new markets,” says Riverside Partner Thomas Blomqvist.

Vaaka Partners’ acquisition of Reima in October 2008 transformed the company into a focused children’s clothing company. During Vaaka Partners’ ownership Reima’s turnover has grown from EUR 38M in 2008 to estimated EUR 60M in 2011.

The Reima investment has been of substantial size and is the first exit for Vaaka Partners Buyout I -fund. Vaaka Partners was advised by HLP Corporate Finance and White & Case in this transaction. Riverside was advised by PwC Corporate Finance, Roland Berger and Roschier.

Additional information:
Reijo Grönholm, partner, Vaaka Partners Ltd, +358 (0)500 403 057, reijo.gronholm@vaakapartners.fi

The Riverside Company – www.riversideeurope.com

The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up €200 million in Europe. The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in over 250 transactions with a total enterprise value of more than €4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes over 75 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to €2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.

Additional information:

Reijo Grönholm, partner, Vaaka Partners Ltd, +358 (0)500 403 057, reijo.gronholm@vaakapartners.fi