The Norwegian investment company Salvesen & Thams, with co-investors, has agreed to acquire Mylna Gruppen AS, Scandinavia’s largest supplier of fitness equipment to the professional and consumer markets. Salvesen & Thams will become the majority owner of the Mylna Group.
The Mylna Group sells fitness equipment to sports retailers, gyms and consumers in Norway, Sweden and Denmark for approximately NOK 500 million a year through its subsidiaries Mylna Sport, Treningspartner, X-Life and Abilica Online. The group has 89 employees and is headquartered in Mjoendalen, Norway. Approximately 50 percent of Mylna’s revenue comes from the Norwegian market, while Denmark and Sweden account for the rest.
In a press release, the new owners stated that their ambition for Mylna Group is to develop the company further and enable it to take an even stronger position in the Nordic market. Thomas Weman, one of the founders and CCO of the Mylna Group, reinvests significantly in the company and will stay on board in his position. The chair of the board of the group, Nina Olufsen, characterized the transfer of ownership as “a value-adding solution for both buyer and seller.”
The completion of the transaction is subject to approval by the Norwegian Competition Authority.
