Palamon Capital Partners (“Palamon”) has acquired a majority stake in Happy Socks AB (“Happy Socks”), a leading international brand of design socks. The transaction values Happy Socks at SEK 725 million, with SEK 40 million of growth capital being injected to support the continued expansion of the business, leading to a SEK 765 million post-money enterprise value.
Happy Socks is a globally recognised brand sold in more than 90 countries through more than 10,000 points of sale, supported by a fast growing online channel and an expanding portfolio of own-branded retail stores.
Key selling shareholders include Scope Capital Advisory and the founders.
The acquisition is subject to approval from the relevant competition authorities and is expected be completed in the first quarter of 2017.
Carnegie acted as financial adviser to Palamon in connection with the transaction.