EQT has announced the sale of its majority stake in Dunlop Protective Footwear to Gilde Equity Management (GEM). Dunlop, a global leader in the manufacturing of protective wellington boots, is known for its strong presence in various professional sectors. Financial terms of the transaction have not been disclosed.
Founded in Raalte, Netherlands, Dunlop serves a diverse array of industries, including Agriculture & Fishery, Food Processing, Functional Leisure, Industry, and Oil, Gas & Mining. The company is committed to safeguarding workers with its high-performance footwear, designed to prevent slips, trips, and falls while ensuring comfort and functionality in demanding work environments. With over 400 employees and production facilities in the Netherlands, Portugal, and the US, Dunlop distributes its products to customers in more than 50 countries worldwide.
EQT acquired Dunlop in June 2018. During its ownership, EQT focused on enhancing Dunlop’s market strategy in the US, bolstering its sustainability efforts, and investing in digital advancements. Notably, Dunlop has expanded its e-commerce capabilities significantly, achieving EcoVadis Gold certification for sustainability for three consecutive years.
Floris van Halder, Managing Director within the EQT Private Equity advisory team, expressed gratitude to Dunlop’s management and employees for their dedication and hard work. He noted that Dunlop exemplifies innovation and leadership in sustainability, empowering professionals to perform their duties safely. “Dunlop is a true example of innovation and sustainability leadership,” he said.
Maurice Hansté, CEO of Dunlop, thanked EQT for its support in navigating the challenging market landscape over recent years. He highlighted the company’s achievements, including the professionalisation of operations, improvements in the US market approach, and the expansion of the e-commerce platform. Hansté stated, “Today, we are well-equipped to continue on our growth journey with our new owners and dedicated colleagues.”
The transaction is still subject to customary conditions and approvals, marking a new chapter for Dunlop Protective Footwear as it transitions to new ownership. With Gilde Equity Management at the helm, Dunlop aims to further its mission of providing high-quality, safe, durable, and comfortable products to its customers. The company looks forward to strengthening its partnerships with distribution channels and suppliers in the pursuit of continued growth.
As the market for protective footwear evolves, Dunlop is poised to leverage its established reputation and innovative approaches to meet the demands of an increasingly safety-conscious workforce. This strategic move is expected to enhance Dunlop’s market position and open up new opportunities for expansion in the competitive landscape of protective apparel.
