Investcorp exits Georg Jensen

Fiskars, the buyer, is a Finnish group of design brands for indoor and outdoor use.

  • Georg Jensen is a Danish design house
  • Investcorp acquired Georg Jensen in 2012
  • Investcorp upgraded Georg Jensen’s digital capabilities during the ownership period

Investcorp announced that it has agreed to sell its majority stake in Georg Jensen, a Danish design brand, to Fiskars Group.

The transaction will be paid in cash and financed with debt. Enterprise value of €151.5 million represents EV/EBITDA (LTM) multiples of 9.5x on a stand-alone basis and 4.7x with cost synergies, net of integration costs, according to Fiskars.

In 2022, Georg Jensen’s net sales were €158.1 million and EBIT was €14.9 million.

Based in Copenhagen, Georg Jensen is a Danish design house founded in 1904 by a silversmith of the same name.

During the ownership period, Investcorp focused on product innovation, upgrading digital capabilities, expanding into new markets and adjacent categories, and realising operational efficiencies, according to a press statement.

Fiskars Group, founded in 1649, is a group of design brands. The Helsinki-based company’s brands include Fiskars, Gerber, Iittala, Royal Copenhagen, Moomin by Arabia, Waterford and Wedgwood.

“Our investment in Georg Jensen demonstrates our ability to support premium brands in their efforts to grow into new geographies, develop new digital distribution and significantly professionalise and strengthen operations to cater for growth,” said Jose Pfeifer, head of private equity, Europe at Investcorp. “We are delighted to have seen the business perform strongly during and after the Covid 19 pandemic and to have prepared it for the next chapter of its journey.”

Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore.