Wilson Tennis Racket Maker Amer Sports to File for US IPO
Amer Sports, the Finnish maker of Wilson tennis rackets, is reportedly preparing to file for an initial public offering (IPO) in the United States. The company is said to be planning to list its shares on the Nasdaq exchange in the fourth quarter of 2023.
Amer Sports is one of the world’s leading sports equipment companies, with a portfolio of brands that includes Wilson, Salomon, Atomic, Arc’teryx, and Suunto. The company has been owned by a consortium of Chinese and European investors since 2018, when it was acquired from the Finnish government.
Background of Amer Sports
Amer Sports was founded in 1950 as a joint venture between the Finnish government and the Finnish sporting goods company, Kone. The company was initially focused on producing sporting goods for the Finnish market, but it quickly expanded into international markets.
In the 1970s, Amer Sports began to focus on the production of tennis rackets, and in the 1980s, it acquired the Wilson brand. Wilson is now one of the most recognizable brands in the tennis industry, and Amer Sports has become one of the world’s leading manufacturers of tennis equipment.
Amer Sports’ Expansion
In the 1990s, Amer Sports began to expand its portfolio of brands, acquiring Salomon, Atomic, Arc’teryx, and Suunto. These acquisitions allowed the company to diversify its product offering and become a leader in the outdoor and winter sports markets.
In 2018, Amer Sports was acquired by a consortium of Chinese and European investors. The acquisition was seen as a way for the company to expand its presence in the Chinese market, as well as to access new capital for further expansion.
Amer Sports’ Financial Performance
Amer Sports has seen strong financial performance in recent years. In 2020, the company reported revenue of €2.9 billion, up from €2.7 billion in 2019. The company’s net income also increased from €162 million in 2019 to €182 million in 2020.
The company’s strong financial performance has been driven by its focus on innovation and product development. In 2020, the company launched several new products, including the Wilson Clash 100 tennis racket and the Salomon X-Alp ski boot.
Amer Sports’ IPO Plans
Amer Sports is now reportedly preparing to file for an IPO in the United States. The company is said to be planning to list its shares on the Nasdaq exchange in the fourth quarter of 2023.
The IPO is expected to value the company at around €5 billion. The proceeds from the offering will be used to fund further expansion and acquisitions.
Amer Sports’ Future Outlook
Amer Sports is well-positioned for future growth. The company has a strong portfolio of brands and a proven track record of innovation and product development.
The company is also well-positioned to capitalize on the growing demand for sports equipment in the Chinese market. With the proceeds from the IPO, the company will be able to further expand its presence in the Chinese market and continue to develop new products.
Conclusion
Amer Sports is a leading sports equipment company with a portfolio of brands that includes Wilson, Salomon, Atomic, Arc’teryx, and Suunto. The company is reportedly preparing to file for an IPO in the United States, and the proceeds from the offering will be used to fund further expansion and acquisitions. With a strong portfolio of brands and a proven track record of innovation and product development, Amer Sports is well-positioned for future growth.