Nordhaven advised Balmuir’s founders on the sale to Luhta

8 may 2019

Nordhaven Corporate Finance advised luxury brand Balmuir and its founders in the sale of the company to Polap-Team Oy, the parent company of the largest Nordic apparel company L-Fashion Group who, among others, owns the Luhta and Icepeak brands. The transaction included all of the shares in the company.

“It was a pleasure to work with Nordhaven. With their help, we were able to find Balmuir the best new owner that can support the company’s growth strategy and strengthen its international operations. When you are selling your life’s work, it is crucial that the advisor is wholeheartedly and professionally giving their best in supporting you and achieving the best possible outcome for you” says Heidi Jaara, Managing Director of Balmuir.

Marju Simpanen, Associate Partner at Nordhaven, says: “We are delighted to have worked as the trusted advisor for Balmuir and its founders to find the best new home for the company’s future journey.”

Timo Lappalainen, Partner at Nordhaven, continues: “The transaction represents a continuation in our long-standing presence in Nordic consumer sector deals. Balmuir has all the attractions of a modern consumer transaction opportunity – differentiated luxury brand, significantly growing online sales, and own retail presence also outside Finland.”

Balmuir is a rapidly growing lifestyle and fashion brand offering fashion accessories and interior decoration items made from the finest natural materials. Each Balmuir product is a token of fine craftsmanship and designed to bring joy for years. The company’s average growth rate has been in excess of 30% during the past five years. In the financial year ended March 2019, Balmuir generated revenues of 8.3 million euros.


For further information, please contact:

Marju Simpanen, +358 40 541 6983,

Timo Lappalainen, +358 40 503 2139,

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