O. Mustad & Son AS
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O. Mustad & Son AS - overview
Established
1877
Location
-, -, Norway
Primary Industry
Consumer Products
About
O. Mustad & Son AS is a Norwegian company dedicated to the manufacture and distribution of high-quality fishing products, including hooks, lures, and accessories for anglers globally. Established in 1877 in Norway, O. Mustad & Son AS specializes in producing fishing-related products.
The company was acquired by Verdane Capital in May 2017, marking a significant strategic shift in its ownership. Currently, it operates from its headquarters in Gjovik, Norway. The CEO, Kenni Riise, leads the firm as it continues to evolve to meet anglers' needs. O.
Mustad & Son AS specializes in the manufacturing and distribution of fishing-related products, primarily focusing on hooks, lures, and fishing accessories. Their core offerings include a wide range of hooks, such as the UltraNor series, which is designed to meet the diverse needs of anglers by providing strength and reliability. In addition to hooks, the company offers a variety of lures tailored for different fishing techniques, alongside bags and tools designed to enhance the overall fishing experience. Mustad's products are utilized by recreational and professional anglers across various geographical markets, including North America, Europe, and Asia-Pacific regions.
The company aims to address the challenges faced by anglers, providing durable and effective fishing gear to enhance their chances of successful catches. In 2023, O. Mustad & Son AS reported a revenue of USD 37. 23 mn, with an EBITDA of USD 95,259.
1. The company generates revenue through a multi-faceted business model that encompasses both direct-to-consumer sales and partnerships with retailers and wholesalers. The transaction structure typically involves customers purchasing individual products or bulk orders through retail channels, serving both casual fishing enthusiasts and commercial operations. Through initiatives such as Mustad Rewards, the company fosters repeat business and customer loyalty.
O. Mustad & Son AS is focused on expanding its product lines, with upcoming launches of new fishing accessories designed to enhance user experience. Additionally, the company aims to penetrate new geographic markets in Asia-Pacific and South America by the end of 2024, leveraging recent investments to support these initiatives. Following the acquisition by Verdane Capital in May 2017, Mustad plans to utilize funding to enhance product innovation and market expansion.
Current Investors
Verdane
Primary Industry
Consumer Products
Sub Industries
Recreational Hobbies & Sporting Goods, Clothing, Accessories
Website
www.mustad-fishing.com
Verticals
Manufacturing
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
O. Mustad & Son AS - timeline of key events
O. Mustad & Son AS - financials
| Fiscal Year Ended | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 103,637,000 | 267,523,000 | 232,522,000 | 223,995,000 | 247,139,000 | 295,586,000 | 314,664,000 | 310,023,000 | 323,827,000 | 333,351,000 | 374,469,000 | 453,011,000 | - | - | - |
| % Revenue Growth (YoY) | - | 158.1% | (13.1%) | (3.7%) | 10.3% | 19.6% | 6.5% | (1.5%) | 4.5% | 2.9% | 12.3% | 21.0% | - | - | - |
| EBITDA (USD) | (30,822,000) | (28,115,000) | (6,901,000) | 5,631,000 | 19,704,000 | 27,098,000 | 36,138,000 | 33,282,000 | 28,026,000 | 11,244,000 | 35,302,000 | 49,621,000 | - | - | - |
| Operating Income (USD) | (43,129,000) | (41,617,000) | (18,578,000) | (8,519,000) | 9,424,000 | 17,044,000 | 26,887,000 | 24,389,000 | 18,840,000 | 1,295,000 | 23,813,000 | 38,088,000 | - | - | - |
| Operating Margin | (41.6%) | (15.6%) | (8.0%) | (3.8%) | 3.8% | 5.8% | 8.5% | 7.9% | 5.8% | 0.4% | 6.4% | 8.4% | - | - | - |
| % EBITDA Margin | (29.7%) | (10.5%) | (3.0%) | 2.5% | 8.0% | 9.2% | 11.5% | 10.7% | 8.7% | 3.4% | 9.4% | 11.0% | - | - | - |
| NET Income (USD) | (38,602,000) | (13,549,000) | (19,830,000) | (5,380,000) | 20,451,000 | 15,734,000 | 11,601,000 | 9,445,000 | 12,268,000 | (4,671,000) | 14,207,000 | 27,802,000 | - | - | - |
| % Net Margin | (37.2%) | (5.1%) | (8.5%) | (2.4%) | 8.3% | 5.3% | 3.7% | 3.0% | 3.8% | (1.4%) | 3.8% | 6.1% | - | - | - |
O. Mustad & Son AS - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | TUF-Line | - | ||||||||
| Buyout | Completed | O. Mustad & Son AS | - |
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O. Mustad & Son AS - employee data
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