Spex Holding is acquiring all the shares of two Norwegian wholesale distribution companies, Beach Mountain and Response Nordic. As reported by the Norwegian Sports Industry Association, Invest42, until now the sole owner of Beach Mountain, is becoming a co-owner of Spex. Both Beach Mountain and Response Nordic, which is already owned by Spex, will retain their respective chef executives, Odd Arne Steffensen and Are Pedersen, but both will be housed at Spex’ headquarters in Trondheim. Beach Mountain has been distributing the Haibike, GT, Winora, Woom, Babboe, efinity and Eddy Merckx bicycle brands. The company employs 15 people and had annual revenues for 2019 of 122 million Norwegian kroner (€11.0m-$12.9m). Response Nordic’s portfolio includes GoPro, Goal Zero, Volcom, Nitro and Armada for the Nordic markets and GoPro and Goal Zero also for Belgium, the Netherlands and Luxembourg. It employs 30 and had annual revenues in 2019 of NOK 480 million (€43.4m-$50.9m). All jobs are to be preserved. According to Steffensen, the merger will in fact only expand the sales and support teams. Once the changes take effect, the acquired companies will have 33 employees in Trondheim and three in Oslo, with branch offices in Sweden, Denmark, the Netherlands and Belgium.

Topics