Altor invests in activewear brand “OCEANSAPART”

Altor Equity Partners has signed an agreement to acquire a majority stake in Rise Up Fashion GmbH the legal entity owning “OCEANSAPART. Soulful Clothing” and enter into a partnership with the owners, founders and management to support the continued growth of the company and the brand. The founders Susanna Wagner and Paul Engelmann will continue in their roles and remain significant shareholders alongside the current shareholders and Altor. Among current and past investments of Altor are Revolution Race, Totême, iDeal of Sweden, Rossignol, and Helly Hansen.

Founded in 2018, oceansapart is a non-competitive activewear apparel company serving a “growing community focused on inclusivity and diversity rather than just sports performance”. The activewear designs include leggings, bras, hoodies and activewear accessories targeting mainly female Gen Y and Gen Z customers. Headquartered in Berlin, the Company’s core market comprises the DACH region with recent entries into France, Italy, Poland and Spain. The Company more than quadrupled its revenues in 2020 and has continued to grow in 2021.

“We have a clear vision to become the global activewear brand for the new generation. We are delighted to have Altor come in as a new majority owner and long-term partner and are excited to expand our digital marketing channels and drive internationalization of oceansapart.” say co-founders Paul Engelmann (CEO) and Susanna Wagner (CPO).

“The investment in oceansapart builds on Altor’s successful investment track-record in the apparel and direct-to-consumer market. Altor has recently made an IPO of RevolutionRace, the online direct-to-consumer outdoor sports apparel company, on the Nasdaq Stockholm stock exchange. We have invested across a broad range of direct-to-consumer and sportswear apparel brands, including Helly Hansen, Rossignol, iDeal of Sweden or Network of Design. The whole Altor team is excited about this investment and to partner with such a fast growing and dynamic company.” comments Klas Johansson, Partner and Head of DACH Altor.

“Focusing on inclusivity, oceansapart is a uniquely positioned direct-to-consumer athleisure company. Its profitable growth track-record is truly impressive – having expanded into five countries within its first four years already. We are excited to partner with the founders on their continued internationalization journey.” says Giovanna Maag, Partner in Altor’s Zurich office.

Altor will partner with a value creating investor. The completion of the investment remains subject to review and approval from relevant authorities. Since inception, the family of Altor funds has raised some EURbn 8.3 in total commitments. The funds have invested in excess of EURbn 5 in more than 75 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Revolution Race, Totême, iDeal of Sweden, Rossignol, and Helly Hansen.

Source: Altor Equity Partners
Picture: OCEANSAPART / Rise Up Fashion GmbH

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