International clothing brands, FIVEUNITS, 2nd ONE, and Plaîn Denim strengthen their international expansion plans with the majority sale to Danish private equity fund, Finance Zealand and management team.
Clearwater International advised founder and owner, Carit Løvdal, on the majority sale to Danish private equity fund, Finance Zealand, Norwegian partner Frode Strømman, and CEO Thomas Nissen. Carit Løvdal will stay with the company and continue supporting the ongoing business development.
Established in 2008, FIVEUNITS is the largest brand in the company and is a contemporary and premium womenswear brand focused exclusively on jeans and trousers. High quality fabrics, great fit, and an attractive quality/price ratio are key success factors.
The company has shown impressive growth rates and has extensive sales coverage across Europe, with Norway and Denmark being its largest markets. With the new owners on board, the company is expected to expand further in both new and existing markets to realise its international potential.
The Clearwater International team was led by Partner Andreas Lauth and Director Simon Bang Mikkelsen with support from Senior Associate Maria Malmborg Christensen.
Simon Bang Mikkelsen, Director, Clearwater International commented: “This is our 10th Danish Consumer transaction in just 15 months and it confirms the strong interest from strategic and financial investors in the sector. With the new ownership structure, including both the management team and Finance Zealand, the path is set for the company to continue its international growth.”