Clearwater International Denmark advises Firtal Group on its sale to Matas

Clearwater International Denmark has advised Firtal Group ApS (Firtal), the owner of a portfolio of e-commerce stores and brands within the health and wellbeing space, on its sale to Matas A/S (Matas).

Firtal is a leading digital retailer of own branded and third-party products operating primarily within selected niche e-commerce verticals. Firtal has successfully developed a culture of embracing innovation and entrepreneurship through the development of its talented staff, allowing the business to become champions within digital retailing. Firtal operates nine different niche e-commerce stores, the largest being, a renowned leading Danish player within the online market for wellbeing products.

Matas is a large health and beauty retailer in Denmark offering a distinctive one-stop retail concept which provides a broad range of health, beauty, household and personal care products. The Matas chain comprises of approximately 280 stores in Denmark, as well as an online store.

The Clearwater International team consisted of Partner Jakob Tolstrup Kristensen supported by Partner Per Surland and Senior Associate Mads Højdahl Kristensen.

“ We are thrilled with this investment from such a strong partner with over 70 years of industry experience. We have no doubt that combined with Firtal’s agility and innovation, this partnership will further strengthen our position within digital retail and drive future business growth.

It has been a pleasure working with Clearwater and from the outset we were confident that we’d get the best results having them – not only by our side, but at the forefront. With a strong understanding of our business and the ability to comprehend the complexity of the digital ecosystem surrounding our e-commerce stores and brands, the team were able to draw out the key figures and business values. Jesper and I have a clear understanding of the fundamentals of our business, but the Clearwater team were able to “get it down on paper” and explain it, portraying our company in the best light. The process has been insightful and at times hectic, but Clearwater were able to provide pragmatic solutions to the challenges that occurred. The team’s involvement allowed us to focus on where to spend our energy. Without question I would recommend Clearwater to any business looking for growth options and outstanding results.”

Mikkel Harken Salling, Co-Owner and Co-CEO, Firtal Group

“ Firtal has a fantastic history of entrepreneurship and innovation combined with a strong digital retail strategy, and the acquisition by Matas will allow this business to continue its successful growth path. The online retail market has experienced rapid growth in comparison to the offline retail market, primarily attributed to availability, selection and convenience for the consumers, and therefore we expect to see continued high level of M&A activity in this space.”

Jakob Tolstrup Kristensen, Partner, Clearwater International Denmark