- 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
STOCKHOLM, Sept. 24, 2024 /PRNewswire/ -- 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
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