EQT to sell Dunlop Protective Footwear
- The EQT Mid Market Europe fund has agreed to sell Dunlop to Gilde Equity Management
- During EQT's ownership, Dunlop has enhanced its US go-to-market approach, cemented its sustainability credentials, and made substantial investments in its digital platform
EQT is pleased to announce that the EQT Mid Market Europe fund (“EQT”) has agreed to sell its majority stake in Dunlop Protective Footwear (“Dunlop or the “Company”) to Gilde Equity Management (“GEM”). Dunlop is a leading global manufacturer of protective wellington boots, sold via distributors to mainly professional customers. Financial details have not been disclosed.
Headquartered in Raalte, the Netherlands, Dunlop serves professionals in the Agriculture & Fishery, Food Processing, Functional Leisure, Industry, and Oil, Gas & Mining sectors. Dunlop's high-performance boots guard workers from slips, trips and falls, while providing comfort and functionality in harsh operating environments. With over 400 employees and production sites in the Netherlands, Portugal, and the US, Dunlop serves customers in over 50 countries.
EQT acquired Dunlop in June 2018. During EQT’s ownership, Dunlop has enhanced its go-to-market approach in the US, cemented its sustainability credentials, and made substantial investments in its digital platform. The Company has also significantly expanded its e-commerce business (both directly and indirectly) and achieved EcoVadis Gold for the 3rd year in a row.
Floris van Halder, Managing Director within the EQT Private Equity advisory team, said: “Dunlop is a true example of innovation and sustainability leadership, empowering the doers and makers of the world to get their job done safely. We want to thank the management team and all the employees of Dunlop for their commitment and hard work over the past years.”
Maurice Hansté, CEO of Dunlop, said, “We would like to thank EQT for supporting us as responsible owners and helping us navigate the uncertain market environment over the last few years. Together, we have further professionalized Dunlop, enhanced our US go-to-market approach, and expanded our e-commerce platform. Today, we are well-equipped to continue on our growth journey with our new owners and dedicated colleagues. We look forward to continue working with our distribution partners and suppliers to deliver high-quality, safe, durable, and comfortable products to the end-customers.”
The transaction is subject to customary conditions and approvals.
Contact
EQT Press Office, press@eqtpartners.com
About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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About Dunlop Protective Footwear
Dunlop Protective Footwear is the global leader in high-performance safety boots for professionals. As a trusted name in the personal protective equipment industry, Dunlop sets the standard for safety, durability and comfort. With proprietary manufacturing technology and a globally recognized brand, Dunlop delivers premium-quality safety boots that workers rely on every day. Dunlop is globally active in over 50 countries and has production facilities in the Netherlands, Portugal, and the US.
More info: https://www.dunlopboots.com/
About Gilde Equity Management
Gilde Equity Management is an independent private equity firm that invests in mid-sized and large companies that are rooted in the Benelux and have strong international growth aspirations. Founded in 1982, the firm draws on its extensive network and expertise to support companies in realizing their full potential. Gilde Equity Management manages over EUR 2.0 billion in assets.
More info: https://www.gembenelux.com/en/
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