French private equity firm PAI is apparently in talks with A.S. Adventure's owner, Lion Capital, to discuss a possible sale of the outdoor chain. The company was for sale last year, but in the end, the owner decided to go for an IPO instead of a complete sale.
No IPO after all
Now it seems the sale will go through: De Tijd writes that, according to several sources, the PAI talks are in an advanced stage. A.S. Adventure's possible new owner is one of Europe's largest private equity firms and it already owns lingerie chain Hunkemöller for instance. It also has a stake in another Belgian company, ADB, an airport lighting specialist.
Lion Capital owns 85 % of Belgian company A.S. Adventure, while its former CEO and founder Emiel Lathouwers owns 10 % and the board 5 %. The chain managed a record 360 million euro turnover in 2013.