December 2018 – KJK Fund III acquires 50% ownership in Tahe Outdoors OÜ.
KJK Fund III made its first investment by acquiring a 50% stake in Tahe Outdoors in a capital increase transaction finalized in December 2018. Tahe is an Estonian company manufacturing and distributing high-quality watersports equipment. Main products are kayaks, canoes and paddling equipment – the company offers a wide selection from high-end custom-made products to budget models.
Tahe operates with 5 brands of watersport equipment and it has 3 factories located in Estonia, Germany and France with 130 employees. The Company’s sales network covers more than 35 countries worldwide. Over 95% of the sales are generated from outside of Estonia.
The funds injected by KJK will be used foremost to acquire a leading watersports equipment manufacturer, BIC Sport, headquartered in France. BIC Sport is one of the leading Stand Up Paddleboard manufacturers globally. The company has utilized its technological manufacturing skills for over twenty years producing watersports equipment including SUP, surf and windsurf boards and kayaks. Tahe closed the acquisition of BIC at the end of December 2018.
By taking over BIC Sports Tahe will create the second largest water sports equipment producer in Europe, the expected consolidated 2019 turnover for the Group is EUR 42 million and EBITDA more than EUR 5 million.