Carlsquare advised oceansapart on the sale to Altor
Rise Up Fashion GmbH, the legal entity owning the brand „oceansapart #soulful clothing“, has signed an agreement with Altor Fund V (“Altor”) to build the 1st global non-competitive activewear brand.
Altor acquires a majority stake in oceansapart and enters into a partnership with the owners, founders and management to support the continued growth of the company and the brand. The founders Susanna Wagner and Paul Engelmann will keep their roles and remain significant shareholders alongside the current shareholders and Altor.
Founded in 2018, oceansapart is a uniquely positioned, non-competitive activewear apparel company serving a growing community that is focused on inclusivity and diversity rather than just on sports performance. The activewear designs include leggings, bras, hoodies and activewear accessories targeting mainly female Gen Y and Gen Z customers. Headquartered in Berlin, the company’s core market is the GSA region with recent entries into France, Italy, Poland, and Spain. Its success is centred around clear product design, as well as digital and influencer led marketing, driven by a powerful analytics platform. The company more than quadrupled its revenues in 2020 and has continued to grow in 2021.
“Our vision is to become a global activewear brand for the new generation. We are delighted to have Altor come on board as a new majority owner and long-term partner and are excited to expand our digital marketing channels and drive our internationalisation,” say co-founders Paul Engelmann (CEO) and Susanna Wagner (CPO).
“The investment in oceansapart builds on Altor’s successful investment track-record in the consumer apparel and direct-to-consumer market. Altor has recently gone public with RevolutionRace, the online direct-to-consumer outdoor sports apparel company, on the Nasdaq Stockholm stock exchange. We have invested across a broad range of direct-to-consumer and sportswear apparel brands, including Helly Hansen, Rossignol, iDeal of Sweden or Network of Design. The whole Altor team is excited about this investment and partnering with such a fast growing and dynamic company,” says Klas Johansson, Partner and Head of Altor DACH.
“Focusing on inclusivity, oceansapart is a uniquely positioned direct-to-consumer athleisure company. Its profitable growth track-record is truly impressive – having expanded into five countries within its first four years. We are excited to partner with the founders on their continued internationalisation journey,” says Giovanna Maag, Partner at Altor’s Zurich office.
The completion of this transaction remains subject to review and approval from relevant authorities.
Carlsquare acted as the exclusive financial advisor to oceansapart.