XXL adds more investment from Altor, which becomes a major investor in the company.

XXL, an Oslo, Norway-based retailer of sports goodds across Scandinavia, announced that one of its investors, Altor Funds, consolidated its ownership position in the company.

The deal involves a capital addition of NOK 77.4M ($9.1M) and a secondary transaction between Altor's Altor Invest 5 AS and Altor Invest 6 AS and othe investors in the company. Altor Invest 5 AS and Altor Invest 6 AS are indirect subsidiaries of Altor Fund IV, a fund in the Altor family of funds.

Following the transactions, Altor will own 10% of the shares, based on which it has requested a representative on the Board of Directors of the Company. Dolphin Management AS owns 22.75% and will remain a large shareholder in the Company.

XXL, founded in 2001, is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. The company opened its first store in central Oslo in 2001 and online store in 2002. XXL is listed on the Oslo Stock Exchange.