Bahrain’s Investcorp buys sports gear maker POC for $65m - Gulf Business
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Bahrain’s Investcorp buys sports gear maker POC for $65m

Bahrain’s Investcorp buys sports gear maker POC for $65m

Investcorp’s latest deal complements other companies in its portfolio that have similar interests

Bahrain-based Investcorp announced that it has acquired POC, a manufacturer of specialist gear such as skiing and cycling helmets and other sports accessories.

Investcorp bought POC from outdoor equipment maker Black Diamond for a total value of $65m, a statement said.

Established in Sweden, POC’s product line includes helmets, body armor, goggles, eyewear, gloves and other gear, which are currently sold across 27 countries.

Investcorp’s acquisition of POC also complements its other companies such as Dianese, which is known for its protection accessories for motorcyclists and for sports. The company added that synergies between the two companies will be explored in the future.

Aside from Dianese, Investcorp also has stakes in consumer sports businesses such as Riva Boats, Helly Hansen and AGV.

“POC is one of the fastest growing, dynamic and innovative companies in the sports gear and protection sectors,” said Investcorp’s co-chief executive Mohammed Al-Shroogi.

“Its cross generational reach, intrinsic focus on technical innovation and commitment to safety, make it the perfect fit for our portfolio. Leveraging our sector expertise, experience of working with high quality brands and industry connections, we believe Investcorp is well placed to further support POC’s already impressive growth trajectory.”

Investcorp, which reported a 13 per cent growth in profits in 2014, has been actively acquiring targets and diversifying its portfolio.

Earlier this year, the Bahrain-based private equity house acquired a Saudi-based testing services firm NDT Corrosion Control for an undisclosed sum. Investcorp has also made a number of acquisitions this year in partnership with Bahrain’s sovereign wealth fund Mumtalakat.

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