Transaction: Divestments
Date: March 2014
Deal value: EUR 23.6 million
Process: Private auction
Industry: Retail

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Divestment of The Original Group

FIH Partners advised IC Companys, one of the leading apparel groups in Scandinavia, on group value creation strategy, the carve-out and divestment of the mid-market brands InWear, Matinique, Part Two and Soaked in Luxury as well as the Companys multibrand retail concept, together 'The Original Group'. In combination with the sale, FIH PARTNERS has advised IC Companys regarding payment in DK Company shares.

IC Companys is a leading player in the Nordic apparel market and owns brands such as Peak Performance, Tiger of Sweden and By Malene Birger. In 2013/14 the Group realised revenue of DKK 3.3 billion and EBIT of 195 million.

The divestment allows IC Companys to exclusively focus on the attractive 'Premium' segment where the brands realised an average growth rate of 8% over the last three financial years and 8.2% EBIT margin in 2012/13.

The acquirer, DK Company, is a Danish multibrand apparel group focusing on the mid-market and fast-fashion segment. The Company realised revenue of DKK 1.6 billion and EBIT of DKK 99 million.

FIH Partners acted as exclusive financial advisor to IC Companys on the structured divestment process leading to the sale of The Original Group.