Canadian hockey equipment maker CCM to be bought by Swedish private equity firm

Private equity firm Altor announced on Wednesday that it has reached an agreement to acquire a majority stake in CCM Hockey, a renowned Canadian brand with a 125-year history specializing in sports equipment and apparel.

Private equity firms are increasingly turning their attention to the rapidly growing sports sector, where partnerships with major leagues that attract large audiences create loyal customer bases. In August, NFL owners approved allowing private equity firms to purchase up to a 10 percent stake in any team, joining other leagues like the NBA and MLB, which also permit limited investment from these funds.

This shift is positioning the sports industry, including companies producing sporting goods, to attract more outside capital and interest from investment firms.

Founded in Montreal in 1899, CCM Hockey is a well-established name in the ice hockey world, with its products used by top players such as Auston Matthews, Sidney Crosby, and Connor McDavid. In 2004, Reebok acquired CCM, and two years later, Adidas bought Reebok. In 2017, Adidas sold CCM to Birch Hill Equity Partners for $110 million USD.

CCM now operates in more than 40 countries and is a key provider for NHL and Professional Women's Hockey League players.

The partnership with Stockholm-based Altor, which invests in several consumer brands, aims to drive CCM's growth in existing and new markets, products, and segments, according to both companies. The deal is expected to close by year-end.

This news follows the announcement earlier in the week that Fairfax Financial Holdings' affiliates will acquire a controlling interest in Bauer Hockey, CCM’s rival. While the value of that transaction was not disclosed, it was revealed that Fairfax will take over the equity stake previously held by Montreal-based Sagard Holdings.

Fairfax and Sagard purchased Bauer out of bankruptcy in 2017 for $575 million.