The water sports gear industry in Europe is a vibrant sector focused on the production and distribution of products catering to activities like surfing, kayaking, and sailing. Companies range from large-scale retailers to specialized manufacturers offering everything from apparel and accessories to high-tech equipment. Notably, there’s been a surge in interest surrounding eco-friendly initiatives, with brands increasingly embracing sustainable materials. The market is set to expand further, driven by rising consumer interest in health and fitness, as well as outdoor adventures, highlighting a promising trajectory in innovation, particularly in safety gear and smart equipment solutions.


In 2024, a variety of investors participated in the water sports gear sector in Europe. The list includes corporate giants like Frasers Group and the European Innovation Council, alongside private equity firms such as Altor Equity Partners and Permira. Predominantly headquartered in major cities like London, Stockholm, and Brussels, these investors vary in size from small teams to large corporations. Founded from as early as 1968 to as recently as 2017, they collectively engaged in more than 170 investments in 2024, showcasing their ambition within this niche market.


Top 19 Water Sports Gear Investors in Europe


1. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a crowdfunding platform based in London, England, founded in 2010. It enables businesses, particularly startups and SMEs, to raise capital through equity investments by connecting them with potential investors. The platform emphasizes diversity and inclusion within its workforce while providing investment management services. Notably, Crowdcube has been involved in several transactions relevant to the water sports gear industry, including Finisterre, a British surfwear brand that raised over £4.5 million in its crowdfunding campaign, significantly exceeding its target. Additionally, Crowdcube has supported other outdoor and sports-related brands like Alpkit, which specializes in outdoor clothing and equipment, and Planks Clothing, which focuses on ski and snowboard apparel. These transactions highlight Crowdcube's active role in facilitating investments in the water sports and outdoor gear sectors.


2. Frasers Group

  • Website: frasers.group
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1982
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: frasers-group

Frasers Group plc is a corporate investor based in London, England, founded in 1982. The company operates various brands in the sports and fashion sectors, including Sports Direct and Jack Wills, and offers a wide range of products such as clothing, footwear, and sporting goods. Notably, Frasers Group has made significant acquisitions in the outdoor and sports retail space, including Eastern Mountain Sports (EMS) in 2017 and Field & Trek.Com Ltd in 2007. These acquisitions highlight their commitment to expanding their presence in the sports gear market, which includes water sports equipment. In 2024, they announced plans to acquire the Holdsport Group, further indicating their growth strategy in the sports retail sector. Their diverse offerings and strategic acquisitions position them as a key player in the sports gear industry, including water sports gear.


3. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited (LDC) is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. They focus on helping management teams achieve their growth ambitions through investment and advisory services, fostering long-term partnerships to drive business success. Notably, LDC has been involved in several transactions relevant to the water sports gear context, including the acquisition of ZyroFisher in 2016, which operates in the cycling and water sports equipment sector. Additionally, their investment in Mountain Warehouse, an outdoor clothing retailer, reflects their interest in the broader outdoor and sports market, which may include water sports gear. Other transactions, such as the acquisition of Neilson Holidays, further demonstrate their engagement with companies that may intersect with water sports activities.


4. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm focuses on enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Altor has been involved in several notable transactions, including the acquisition of Rossignol, a well-known brand in the outdoor sports equipment sector, and Navico, which specializes in marine electronics, directly linking them to the water sports industry. Additionally, their investment in XXL Sport & Villmark, a retailer of outdoor and sporting goods, further emphasizes their engagement in sectors related to water sports gear. Through these investments, Altor demonstrates a commitment to supporting companies that contribute to the outdoor and water sports markets.


5. Verdane

  • Website: verdane.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments in technology-enabled companies, providing capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Among their notable transactions, Verdane acquired Silva, a provider of niche outdoor sports equipment, which may include products relevant to water sports. They also acquired Mustad, a company with historical ties to outdoor and sports equipment, and Maskinklippet.se, which aims to create a leading Nordic niche e-tailer in outdoor products. These transactions indicate Verdane's interest in the outdoor and sports equipment sectors, which could encompass water sports gear.


6. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market by focusing on minority investments and extensive support services to help businesses scale. Notably, BGF has invested in Ruroc, a UK-based action sports protection brand, which received a £3m investment to support product development and international expansion. They also invested £5.7 million in Source BMX, a leading BMX retailer, to enhance its e-commerce capabilities and facilitate international growth. These transactions highlight BGF's engagement in the action sports sector, which is relevant to water sports gear.


7. Montagu

  • Website: montagu.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1968
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: montagu-private-equity-llp

Montagu Private Equity is a private equity firm based in London, England, founded in 1968. The firm specializes in investment management and growth strategies, partnering with management teams across various sectors, including healthcare and financial services. Montagu has a strong commitment to responsible investing and focuses on mid-market companies. Notably, Montagu has made significant investments in the water sports gear industry, including the acquisition of Aqua Lung on October 4, 2016, a leading brand in scuba diving and snorkeling equipment. They also acquired Hansen Protection, which specializes in protective gear for water sports, on December 17, 2010. These transactions highlight Montagu's active role in the water sports gear market, alongside their broader investment strategy.


8. Mobeus


Mobeus Equity Partners is a private equity investment firm based in London, UK, founded in 2012. The firm specializes in equity investments in UK-based SMEs, partnering with management teams to provide funding for management buyouts and equity releases, facilitating growth and strategic development. Mobeus operates across various sectors, including business services and healthcare, but has also made significant investments in the water sports gear industry. Notably, they invested £5 million in Wetsuit Outlet, a UK-based online retailer of technical clothing and equipment for water sports, aimed at expanding its market share in Europe and the US. Additionally, Mobeus acquired Equip Outdoor Technologies, which is involved in outdoor gear, and invested in Tushingham Sails, a company that produces sails for water sports. These transactions highlight Mobeus's active role in the water sports gear market.


9. Kima Ventures

  • Website: kimaventures.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2010
  • Headcount: 1-10
  • Number of deals in 2024: 50
  • LinkedIn: kima-ventures

Kima Ventures is a venture capital firm based in Paris, Île-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, backing two startups per week with financial support and mentorship. Notable transactions include their investment in Barooders, a France-based used-sporting-goods marketplace that raised €2.2 million in September 2022, which may include water sports gear among its offerings. Additionally, Kima Ventures has invested in HARDLOOP, a French outdoor sports e-tailer, which focuses on environmentally and socially responsible products, potentially encompassing water sports gear. Their diverse portfolio and active investment strategy position them as a versatile investor in the sports equipment market.


10. Parques Reunidos


Parques Reunidos is a Madrid-based corporate investor founded in 1967, specializing in the entertainment sector with a portfolio of over 60 leisure parks worldwide, including amusement parks, water parks, zoos, and aquariums. Notably, they have made significant acquisitions in the water park industry, such as the purchase of Tropical Islands, the world's largest indoor water park, for €226 million in 2019, and Sandcastle Waterpark in 2007. These transactions highlight their commitment to expanding their presence in the water sports sector, alongside their broader focus on providing memorable experiences for families and individuals while engaging in sustainable practices and community support.


11. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. Among its notable transactions, the EIC has invested in Evoy, a Norwegian startup that raised €7.3 million for the development of electric inboard and outboard systems, which are crucial for modern water sports. Additionally, Evoy received multiple grants from EIC, highlighting the council's commitment to supporting innovative solutions in the water sports gear sector. Another investment includes Innomar Ocean Technology, which raised funds for its ventures, further indicating EIC's engagement in the marine technology space.


12. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They specialize in supporting tech startups that address global challenges, particularly in climate-tech and ocean-tech sectors. Katapult provides investment, accelerator programs, and mentorship to early-stage companies. Notable transactions include investments in Ocean Bottle, which focuses on reducing ocean plastic pollution, and Brim Explorer, which is involved in sustainable ocean exploration. These investments highlight Katapult's commitment to ocean sustainability, making them a relevant player in the water sports gear context, as they support innovations that can enhance water-related activities and environmental stewardship.


13. Permira

  • Website: permira.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1985
  • Headcount: 501-1000
  • Number of deals in 2024: 8
  • LinkedIn: permira

Permira is a London-based private equity investment firm founded in 1985, specializing in private equity and credit solutions. The firm partners with management teams and entrepreneurs to drive growth and create long-term value across various sectors, including technology, consumer, healthcare, and services. Notably, Permira has made significant investments in the water sports context, such as their investment in Click&Boat, which aims to enhance its market position in the boating and water sports rental industry. Additionally, their involvement in PrivateSportShop, a platform for sports gear, further demonstrates their engagement in the consumer sector related to sports. Permira's strategic investments are designed to transform businesses into market leaders, making them a relevant player in the water sports gear investment landscape.


14. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, dedicated to fostering economic development in Scotland. With a workforce of 1001-5000, it provides a variety of services including funding, business development advice, and support for innovation and exports. In 2024, Scottish Enterprise was involved in 55 investments, showcasing its active role in supporting businesses. Among its notable transactions, the investment in Ace Aquatec, which raised approximately $9.97 million, highlights their commitment to companies that develop technologies relevant to water sports and aquaculture. Additionally, their increased investment in Sustainable Marine Energy reflects their engagement with marine technologies, further aligning them with the water sports sector. Overall, Scottish Enterprise plays a crucial role in enhancing Scotland's economic landscape, particularly in sectors that intersect with water sports.


15. Enterprise Investors

  • Website: ei.com.pl
  • Type: Private Equity
  • Headquarters: Warsaw, Masovian Voivodeship, Poland
  • Founded year: 1990
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: enterprise-investors

Enterprise Investors is a private equity firm based in Warsaw, Poland, specializing in investment management and financing for mid-market companies. Founded in 1990, the firm focuses on providing capital for buyouts and expansion across various sectors, including consumer products, healthcare, and IT. Notably, Enterprise Investors has made significant investments in the water sports gear industry, including a 32.4% stake acquisition in Tahe Outdoors, an Estonian producer of watersports equipment, for €3.4 million in 2014. This investment highlights their commitment to the water sports sector. Additionally, they have engaged in other sporting goods-related transactions, such as the acquisition of Intersport ISI, a sporting goods retailer in the Balkans, further showcasing their involvement in the broader sports industry.


16. Wellstreet

  • Website: wellstreet.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: wellstreet

Wellstreet is a venture capital firm based in Stockholm, Sweden, founded in 2016. They specialize in early-stage investments in Nordic tech companies, providing entrepreneurs with capital and strategic support to foster growth and innovation. Wellstreet has a diverse investment portfolio, focusing on sectors such as FinTech, E-commerce, and GreenTech. Notably, they have invested in X Shore, a company that develops high-speed electric boats, which is directly relevant to the water sports gear industry. This investment highlights Wellstreet's interest in innovative and sustainable solutions within the watercraft sector, alongside their other investments in various tech-driven companies.


17. Portugal Ventures


Portugal Ventures is a venture capital firm based in Porto, Portugal, founded in 2012. The firm specializes in investing in startups with global ambitions, primarily located in Portugal. They provide capital and strategic support to help these startups grow and scale their operations. Portugal Ventures focuses on innovative projects across various sectors, including technology and health. Among their notable transactions, they invested in Algrave Sun Boat Trips, which is involved in water-based activities, indicating a potential interest in the water sports sector. However, their other investments, such as Friday and Polyanswer, are more aligned with technology and undefined sectors, suggesting a broader investment strategy that may not prioritize water sports gear specifically.


18. Venrex

  • Website: venrex.partners
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2002
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: venrex

Venrex is a venture capital firm based in London, England, founded in 2002. The firm specializes in early-stage investments in technology-enabled businesses within consumer industries, providing both funding and strategic support to help these businesses thrive in competitive markets. Venrex has made notable investments in companies relevant to the water sports gear sector, such as Jöttnar, which raised a total of $1,714,070 in seed funding across two rounds in 2017 and 2018, focusing on outdoor and water sports apparel. Additionally, they invested in Amphibio, which has raised funds in both pre-seed and seed rounds, suggesting a focus on innovative products that may include water sports gear. Their diverse portfolio and strategic approach position them as a significant player in the consumer goods market, including water sports gear.


19. Lagercrantz Group AB

  • Website: lagercrantz.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 6
  • LinkedIn: lagercrantz

Lagercrantz Group AB is a technology group based in Stockholm, Sweden, founded in 2001. The company operates approximately 80 subsidiaries that focus on niche markets, providing specialized technical solutions across various sectors. Their business model emphasizes both acquisitions and organic growth, primarily catering to business customers seeking tailored technology solutions. In recent years, Lagercrantz has made several strategic acquisitions that highlight their interest in water-related industries. Notably, they acquired Waterproof Diving International AB, a company specializing in diving gear, which aligns closely with water sports. Additionally, their acquisition of Tebul Oy, a Finnish manufacturer of watertight electric sliding doors for ships, and Proagria Miljø A/S, a water flow control company in the aquaculture segment, further illustrates their commitment to expanding their portfolio in water-related markets. These transactions indicate that Lagercrantz Group is not only focused on technology solutions but is also actively investing in sectors that support water sports and marine activities.



Water Sports Gear Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
Frasers GroupLondon, England, United Kingdom (UK)10001+198220
LdcLondon, England, United Kingdom (UK)51-200198115
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
VerdaneOslo, Oslo, Norway51-20019857
BgfLondon, England, United Kingdom (UK)51-200201153
MontaguLondon, England, United Kingdom (UK)51-20019682
MobeusLondon, England, United Kingdom (UK)11-5020120
Kima VenturesParis, Île-De-France, France1-10201050
Parques ReunidosMadrid, Madrid, Spain10001+19670
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
KatapultOslo, Oslo, Norway11-5020178
PermiraLondon, England, United Kingdom (UK)501-100019858
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
Enterprise InvestorsWarsaw, Masovian Voivodeship, Poland51-20019901
WellstreetStockholm, Stockholm, Sweden1-1020163
Portugal VenturesPorto, Porto, Portugal11-5020126
VenrexLondon, England, United Kingdom (UK)11-50200211
Lagercrantz Group ABStockholm, Stockholm, Sweden1001-500020016


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