Silva is acquired by Verdane, paving way for increased growth and digital expansion

Verdane, the Northern European specialist growth equity investor, has announced its acquisition of Silva. The acquisition was made from Karnell, a Nordic private equity investment firm that has owned Silva since 2011. The new ownership represents an opportunity for Silva to accelerate its growth and digitalization.

Founded in 1933 in Sweden, Silva is a world-renowned manufacturer of high-quality compasses, headlamps, and sports equipment, selling products mainly through a network of retailers and distributors with a large geographical reach and through the own website. Silva has a strong brand identity and heritage within the niche outdoor sports equipment sector.

The team at Silva have taken the company through an impressive transformation journey over the past five years. A new brand platform, which underlines the company history and heritage, has been implemented, a new production setup and new suppliers have been signed, and a new assortment strategy focusing on three core categories - navigation, lighting, and carry - have catered for a more commercial and competitive assortment. Finally, direct sales to end consumers have been launched in Silva’s four domestic markets Sweden, Norway, UK, and Germany. All these improvements have also led to a more solid and profitable business.

The company has seen robust trading momentum in 2021, with several trends supporting its long-term growth. Verdane will use its e-commerce expertise to expand Silva’s digital channels and support its product expansion into existing geographies. In addition, Verdane will collaborate with Silva to further integrate sustainability into its customer value proposition.

“Over the past few years, we have built a solid growth platform powered by Silva’s market-leading assortment, strong supplier network and heritage brand. The results of those efforts are already becoming apparent in a positive sales trend that we expect to accelerate further. We would like to express our warmest gratitude to our former owners Karnell and the Board of directors for their committed support. With Verdane as our new owners, we are bringing on board new resources and industry-recognized expertise to further accelerate our growth, our digital expansion, and our innovative product development to become the best possible partner to our customers. Expect to see more from Silva in the coming years”, says Richard Jägrud, CEO at Silva.

“Silva is at an exciting inflexion point in its development, and the team has consistently impressed us with their commitment to product excellence building on over 85 years of market leadership. With online demand for outdoor lifestyle equipment growing quickly, we believe Silva has a strong position from which it can grow its business. We look forward to deploying our e-commerce and sustainability knowhow from 40 other digital consumer investments to grow Silva’s market presence and continue building its digital business,” comments Per Nordlander, Partner at Verdane.

About Verdane

Verdane is a specialist growth equity investment firm that partners with sustainable, tech-enabled Northern European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes; the Digital Consumer, Software Everywhere and Sustainable Society. Verdane funds hold more than €3bn in total commitments and have made over 120 investments in fast-growing businesses since 2003. Verdane’s team of over 70 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled businesses in Northern Europe.

More info: www.verdane.com
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