Major Stake Sale in Sportswear Giant Amer Sports by FountainVest Partners
A leading Asian private equity firm, FountainVest Partners, is initiating a substantial divestiture by offering approximately half of its ownership in Amer Sports Inc., a prominent designer of high-performance sportswear and equipment. The shares are priced between $37.20 and $37.73, aiming to raise up to $1.32 billion.
Details of the Share Offering
FountainVest Partners, an early investor in Amer Sports, is set to sell 35 million shares. This major financial move follows the firm’s participation in a $5.2 billion acquisition of Amer Sports back in 2019, highlighting a strategic progression in their investment journey.
Impact on Amer Sports’ Market Performance
Post-announcement, Amer Sports’ shares experienced a slight decrease of 0.9%, settling at $37.40 in after-market trading. Despite this minor drop, the shares have seen an impressive growth, almost tripling since their initial public offering at $1.6 billion last year.
The Future of FountainVest’s Investment
Before this sale, FountainVest held 69.1 million shares, representing 12.5% of Amer Sports. This sale will approximately halve their stake to about 6.2%. Additionally, a 60-day lock-up agreement will restrict further sales, stabilizing the market post-transaction.
Broader Investment Consortium
The original acquisition consortium not only included FountainVest but also featured major players like Anta Sports Products Ltd., Chip Wilson of Lululemon Athletica Inc., and Tencent Holdings Ltd., showcasing a robust backing by leading global firms.
Leadership in the Transaction
Global financial giants, Goldman Sachs Group Inc. and Bank of America Corp., are spearheading this significant transaction, which is expected to be priced later today.
