 Rapala's core business is fishing tackle and it manufactures and distributes lures, hooks and accessories.
Rapala is an undisputed market leader in hard-bodied lures, metal lures, treble hooks and fillet knives. The company also distributes other hunting and fishing products, which fit well into Rapala's distribution network in the Nordic countries and smooth the seasonality of the fishing tackle business. Rapala's established strengths are: a unique manufacturing, sourcing and R&D platform including the world's largest lure factories in Europe and China, a leading global distribution network in the fishing tackle industry and a strong brand portfolio.
Transaction
While at DB Capital Partners, members of the TDR team led the buyout together with management in 1995. They recapitalised the business in 1997 and led a successful IPO in 1998, when Rapala Normark Oy was listed on the Helsinki Stock Exchange.
Investment Overview
The team strongly believed that Rapala's brands and size could be leveraged to take advantage of the consolidation among the retailers. As owners, the team supported Rapala to extend the product line beyond fishing tackles to reduce the seasonality and looked to rationalise the manufacturing cost base. Both of these improvements resulted in very strong EBITDA growth.
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