Herrmans sells the majority shareholding package to Sponsor Capital.

Herrmans, a Pietarsaari (Jakobstad), Finland-based manufacturer of bicycles components, announced getting into an agreement to sell its major ownership package to Sponsor Capital.

Financial details remained undisclosed. All previous owners will continue as significant shareholders and CEO Tom Nordström together with his management team, as well as Elo Mutual Pension Insurance Company will also become new shareholders.

Herrmans Group, led by CEO Tom Nordström, develops, produces and markets light solutions for heavy duty vehicles and bicycle components. The company has a strong tradition of manufacturing and marketing products since 1959. The products are sold to OEMs and aftermarket worldwide. Total turnover in 2018 is approx. €57M ($65M) and the number of employees is approx. 270.