The gymnastics apparel industry in the Nordics thrives on innovation and quality, driven by a growing demand for performance and style among athletes. Companies in this sector not only design functional and comfortable apparel but also prioritize sustainability and eco-friendly materials. Major players include brands focused on competitive gymnastics wear and active lifestyle clothing for training and leisure. As fitness and gymnastics gain popularity across all ages, the market is expected to expand, encouraging startups and established firms to explore creative designs and new technologies, ultimately enhancing the athletic experience for users throughout the region.


The Nordic investor landscape showcases a mix of corporate firms and private equity players, primarily based in Stockholm and Oslo. These investors range from small teams to larger organizations and have been active, with several deals in 2024 aimed at fostering growth in the gymnastics apparel sector. Established mainly in the late 20th and early 21st centuries, many these investors have developed expertise in managing their portfolios. Their engaging strategies and sector focus highlight the potential and promise these investments hold for the future of gymnastics apparel.


Top 10 Gymnastics Apparel Investors in the Nordics


1. eEquity

  • Website: eequity.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2010
  • Headcount: 11-50
  • LinkedIn: eequity

eEquity is a Stockholm-based venture capital firm founded in 2010, specializing in growth equity investments. The firm focuses on digitally enabled business models primarily in the Nordics, partnering with entrepreneurs in the technology and retail sectors to help scale their businesses into regional and global leaders. Notable transactions include a $6.6 million investment in Aim'n, which is likely involved in activewear, and a SEK 50 million ($5.8 million) investment in PS of Sweden, a retail business that could encompass gymnastics apparel. Additionally, eEquity has invested in KidsBrandStore, which operates in the children's fashion sector, indicating a broader interest in apparel-related businesses. Their strategic support and capital provision aim to enhance growth rates and market presence for these companies.


2. New Wave Group

  • Website: nwg.se
  • Type: Corporate
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 1990
  • Headcount: 1001-5000
  • LinkedIn: new-wave-group

New Wave Group AB is a corporate investor based in Gothenburg, Sweden, founded in 1990. The company specializes in creating, acquiring, and developing brands and products across various sectors, including corporate, sports, gifts, and home. They serve both businesses and consumers, providing a diverse range of high-quality apparel and promotional products. Notably, New Wave Group has made several strategic acquisitions to enhance its market presence. In 2013, they acquired Craft North America, a brand known for its sportswear, which could include gymnastics apparel. In 2007, they acquired Cutter & Buck Inc., a designer of upscale sportswear, further expanding their portfolio in the sports apparel market. More recently, in 2022, they acquired BTC Activewear, a UK-based distributor of clothing and accessories, which may also include sports and gymnastics-related products. These transactions highlight New Wave Group's commitment to expanding its influence in the sports apparel industry, making them a significant player in the market.


3. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, but has also made significant strides in the sports and apparel industry. Notably, Nordic Capital acquired a majority shareholding in Unisport, a football equipment retailer, in 2015, and has maintained a focus on operational improvements and growth in its portfolio companies. Additionally, their acquisition of Gina Tricot, a Swedish fashion retail chain, showcases their commitment to the retail sector. These transactions highlight Nordic Capital's capability to drive value in the apparel market, which could extend to gymnastics apparel as part of their broader investment strategy.


4. Adelis Equity Partners


Adelis Equity Partners is a private equity firm based in Stockholm, Sweden, founded in 2012. The firm specializes in growing businesses within the Nordic region, providing investment management and strategic consulting services. They focus on sectors such as technology, healthcare, and business services, but have also made notable investments in the sportswear industry. For instance, they acquired a 70% stake in Intersport Sweden, a prominent sportswear and equipment retailer, in June 2015. This acquisition highlights their engagement in the sports sector, which could extend to gymnastics apparel. Additionally, they acquired Didriksons, a brand known for outdoor clothing, further showcasing their interest in apparel-related investments. These transactions suggest that Adelis Equity Partners has relevant experience in the apparel market, making them a potential player in the gymnastics apparel space.


5. Herkules Capital


Herkules Capital is a private equity firm based in Oslo, Norway, founded in 2002. The firm specializes in managing investments in established companies with strong growth potential across various sectors, including energy, consumer goods, healthcare, services, and industrial technology. Notably, Herkules Capital has been involved in significant transactions within the sportswear industry, including the acquisition of Odlo Sports Group, a company known for its sportswear products, which was announced on November 2, 2017. This acquisition highlights their commitment to investing in companies that align with consumer goods and sports apparel. Additionally, they have engaged in other investments, such as Didriksons and Beckmann, further showcasing their diverse portfolio in related sectors.


6. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. They specialize in providing loans, risk capital, and business development support to small and medium-sized enterprises, aiming to enhance their growth and competitiveness. In recent years, Almi has been involved in several transactions that highlight their interest in the fashion and apparel industry. Notably, they participated in a $2M investment round for Elevenate, a Swedish fashion manufacturer, which indicates their engagement in the apparel sector. Additionally, they invested in Tini Garments, which raised $230,145 in a seed round, further showcasing their involvement in the clothing industry. While Almi's primary focus is not solely on gymnastics apparel, their investments in related companies suggest a potential interest in this market.


7. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies, including private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. Notably, Polaris acquired a 51% stake in Stronger, a Sweden-based e-commerce operator specializing in activewear, which reported sales exceeding SEK 300 million in 2020. This investment aims to support Stronger's continued international expansion and growth in the fitness and leisurewear market, which includes gymnastics apparel. Additionally, Polaris has made other acquisitions, such as Tøjeksperten and BabySam, but the Stronger transaction is particularly relevant to the gymnastics apparel context.


8. Scope


Scope is an investment management firm based in Stockholm, Sweden, founded in 2001. They specialize in building and managing consumer brands, providing investment and advisory services to entrepreneurs and management teams to help them achieve sustainable growth. Their portfolio includes notable brands such as Klättermusen, a company focused on outdoor apparel, and Miss Mary, which specializes in women's lingerie. In 2015, Scope acquired a 50% stake in Happy Socks, a Swedish clothing manufacturer known for its colorful and creative sock designs, with the goal of significantly increasing sales. These transactions highlight Scope's active role in the apparel industry, showcasing their expertise in brand management and growth strategies, which could extend to gymnastics apparel in the future.


9. Creades AB

  • Website: creades.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2012
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: creades-ab

Creades AB is a Stockholm-based venture capital firm founded in 2012, focusing on long-term value creation through strategic investments in both listed and unlisted companies. The firm collaborates with entrepreneurs and business leaders to enhance business operations and growth potential across various industries, including technology and retail. Notably, Creades AB acquired Rohnisch Sportswear on July 11, 2016, which specializes in sportswear, including apparel suitable for gymnastics. This acquisition highlights their commitment to the athletic apparel market. Additionally, they have been involved in other transactions, such as a funding round for Acne Studios, although this is less relevant to gymnastics apparel. Overall, Creades AB's investment in Rohnisch Sportswear positions them as a significant player in the gymnastics apparel sector.


10. FSN Capital Partners

  • Website: fsncapital.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1999
  • Headcount: 51-200
  • LinkedIn: fsn-capital

FSN Capital Partners is a private equity investment firm based in Oslo, Norway, founded in 1999. The firm specializes in managing investments across various sectors, including services, green transition, industrials, and technology, with a focus on driving growth and transformation in its portfolio companies. Notably, FSN Capital has made significant investments in the sporting goods sector, including a majority stake acquisition in Active Brands AS in 2017, a Norwegian supplier of premium sporting goods brands. This acquisition aimed to enhance Active Brands' position in the Nordics and accelerate its international growth. Additionally, FSN Capital has been involved with Sneakersnstuff, a retailer in the sporting goods space, further indicating their engagement in related markets. These transactions highlight FSN Capital's potential interest in the broader sporting goods industry, which may encompass gymnastics apparel.



Gymnastics Apparel Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
eEquityStockholm, Stockholm, Sweden11-5020100
New Wave GroupGothenburg, Västra Götaland, Sweden1001-500019900
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Adelis Equity PartnersStockholm, Stockholm, Sweden11-5020123
Herkules CapitalOslo, Oslo, Norway11-5020020
AlmiStockholm, Stockholm, Sweden201-50019947
Polaris Private EquityCopenhagen, Denmark51-20019984
ScopeStockholm, Stockholm, Sweden1-1020010
Creades ABStockholm, Stockholm, Sweden1-1020121
FSN Capital PartnersOslo, Oslo, Norway51-20019990


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