Phoenix Equity Partners (“Phoenix”) is pleased to announce that it has agreed the sale of Musto, the British specialist sailing and country apparel brand, to Helly Hansen, a leading technical outdoor brand. The transaction value was not disclosed.

Musto is the British brand of choice for professional yachtsmen and world-class dinghy sailors. Granted two British Royal Warrants and an official supplier to the British National Sailing Team, Musto leverages its British roots and sailing heritage to create high quality, cutting edge technical products that enjoy a hard-earned reputation for innovation and performance.

Through the acquisition of Musto, Helly Hansen will become the global leader in professional sailing apparel, complementing its existing leadership position in professional skiing apparel and enhancing its presence in the UK outdoor market. Helly Hansen will invest in Musto’s international growth ambitions as well as deepen its technological and sourcing capabilities. Peter Smith, CEO of Musto, will continue to lead the business.

Hugh Lenon, Chairman of Phoenix and of Musto, said: “Phoenix has been a long-term supporter and admirer of the Musto brand. We are delighted that Peter and his team have found a new owner that will continue to support the brand’s development, particularly in international markets. We wish Musto and Helly Hansen every success as they embark together on the next phase of Musto’s growth.”