News - 08.01.2014

Herkules acquires majority of Didriksons

(Borås, 8 January 2014) Herkules IV has signed an agreement to acquire a majority of Didriksons, Sweden's market leader in functional clothing. Herkules considers Didriksons, with its outstanding growth track record, strong brand and management team, to be a strong platform for international growth.

Didriksons is market leading in Scandinavia within functional and waterproof sportswear. Didriksons 1913 is an exceptional brand based on its 100 year history and roots in Grundsund, Sweden. The products are characterized by excellent functionality and design. Didriksons is represented in 19 countries and with own distribution in Sweden, Norway and UK. Didriksons has 45 employees and European brand sales of about SEK 450 million with solid international growth momentum. Net sales in 2012 were SEK 284 million with an EBITDA of SEK 54 million.

Herkules controls Odlo, one of the European leaders in functional sportswear, and believes there is a great potential to facilitate international growth. “Wherever we go, we hear about the outstanding products and the incredible value for money offered to consumers. We are impressed by the track record and strong company culture. It is vital that the company builds on its strengths and industry leading cost effectiveness. Didriksons has successfully proved its concepts in several markets, and we believe there is high potential for further growth internationally”, says Sverre Flåskjer, Partner at Herkules Capital.

Sören Andreasson, CEO of Didriksons, says that “We have had a fantastic journey in Didriksons since I acquired the company in 1998. We are now about to take our international expansion to the next step, and we believe we have found an excellent partner to support the company reaching its ambitions”.

Jonas Ottoson, CEO of Odlo and former CEO of Peak Performance, has assisted Herkules and will take a seat on the board of directors. “Didriksons is an exceptional brand with a great potential to expand internationally and in new products. I recognize the opportunities for international growth, the same as I saw in Peak Performance when I took over as CEO in 1998. I look forward to be part of this journey”,says Jonas Ottoson.

Herkules acquires a majority of the shares in Didriksons. Sören Andreasson and other key employees will hold a significant minority interest and are thus demonstrating a strong belief and commitment to the future development of the company. Closing of the transaction is planned to take place by end of January 2014.
Sverre Flåskjer, Partner at Herkules Capital
Telephone: +47 22 04 80 09 /+47 48 11 04 66

Sören Andreasson, CEO at Didriksons
Telephone: +46 702 419200 /+46 33 101913
Didriksons is Sweden’s market leader in functional clothing, with a tremendous growth the last 10 years. The company originates from manufacturing of oil garments for fishermen on the west coast of Sweden, starting in Grundsund in 1913, and went through a brand reboot in 1998 in Borås, Sweden’s textile centre. Didriksons has successfully expanded into waterproof and functional clothing for women, men and kids, such as rain sets, jackets, bottoms, tops, and accessories. The concept combines function, design and affordability into a strong value for money proposition to the customers. Celebrating its 100th anniversary in 2013, Didriksons have sales of roughly SEK 450 million, and 45 employees. The company is represented in over 19 countries, with its core markets in the Nordics. More information can be found on

Herkules is Norway’s leading private equity fund, with a total capital base of more than NOK 12 billion in committed capital from Norwegian and international investors. The funds invest in established companies with strong growth potential, either for organic growth or growth through acquisitions, and focuses on companies based in the Nordic countries. Herkules acquires majority ownership positions in the companies and has strong experience of partnership with existing shareholders. Herkules has respect for the companies’ history, and takes an industrial approach, focusing on long-term growth. More information can be found on