PRIVATE equity firm Equistone Partners Europe has bought a majority stake in German motorcycle clothing and accessories brand Polo Motorrad.
The firm was put up for sale by the previous main owner, Paragon Partners, along with Tempus Capital and SM Investment. Under Equistone’s ownership, Polo plans on expanding its network in both Germany, where it has 82 stores, and Switzerland, where it has seven.
The sale follows difficult times for the multi-channel retailer, which was reorganised after its insolvency in 2011. Its turnaround included new management and a streamlining of its brands, and the firm posted revenues of €114m (£86m) for the year to September 2014.
Dirk Schekerka, of Equistone Partners Europe in Germany, said: “We are pleased to have invested in an established, medium-sized company that shows high growth potential in an attractive market from a solid founding.”