Specialist clothing business Hansen Protection is now under the control of IK Investment Partners after being sold by its existing backer for an undisclosed amount.

Norway-headquartered Hansen Protection manufactures specialist survival suits for extreme weather conditions as well as for personal protection.

Montagu Private Equity first became involved with the company when it led a management buy-out (MBO) in February 2011. Under its ownership, Hansen Protection has invested in its infrastructure and facilities and expanded through a Canadian joint venture.

Terie Gorm, CEO of Hansen Protection, comments, ‘Montagu has been a valuable partner to our business since the MBO and has given significant support to the growth and development of Hansen Protection.

‘[IK Investment Partners] have an impressive track record in the Nordics and are well placed to offer us both local and industry expertise as well as a commitment to realise further growth opportunities in new business areas outside the North Sea.’

Hansen Protection is forecasting ‘strong growth’ in the North Sea region and says its product range and brand strength will present opportunities in the future.

More on Montagu Private Equity:

• Montagu buys Host Europe
• €2.5 billion fundraising closed by Montagu
• Webfusion in private equity buy-out

Exiting partner Montagu Private Equity has a large and diverse portfolio including high street consumer electricals business Maplin, which it bought from Graphite Capital in 2004 through a secondary buy-out

Montagu Private Equity director Anthony Greensmith says that the partnership has been ‘very productive’.

He adds, ‘The business is exceptionally well managed and provides mission-critical products to its customers.