Private equity company Ratos makes 100 million dollar exit.

• China to become biggest private equity player

Swedish venture capital firm Ratos has agreed to sell the wholly owned subsidiary Haglöfs, one of the leading outdoor brands in Europe, to Japanese company Asics for 1 billion kronor (133 million dollar).

Asics, a world-leading performance footwear company with 5,350 employees, bought the Swedish brand in a move to expand abroad.

“Haglöfs is very similar to us in terms of manufacturing skill and attitude,” Asics spokesman Toshiyuki Sano, told Bloomberg. “We want to expand globally, and this will strengthen our business.”

The net exit gain for Ratos, that bought the company in 2001 from Atle, is almost 765 million, making up an average annual return of approximately 30 percent.

Avesta-based Haglöft, that makes and sells high-quality equipment for an active outdoor life such as backpacks, sleeping bags, clothes and footwear, is represented in 18 countries and employs 120 people.

Since Ratos became the owner of Haglöfs the company has progressed from being a leading player in the Nordic region to one of the leading outdoor brands in Europe. Haglöfs' sales have grown from 195 million kronor in 2001 to 590 million in 2009.

"Now when Haglöfs is ready for the next stage in its international expansion, we see it as natural for an industrial player such as Asics to take over as owner. Our assessment is that Asics will be able to provide Haglöfs with the best support for its continued growth outside Europe," Ratos's CEO Arne Karlsson said in a statement.