Buksesnedkeren sold to Change

Change Capital Partners, the retail and consumer industries-focused London private equity firm headed by former Marks and Spencer plc chief Luc Vandevelde, said Tuesday it had agreed to buy Danish wholesale leisurewear company Buksesnedkeren ApS from its founding Knud Lind Hansen family. The transaction price is €38 million ($47 million), according to a source close to the situation. Change Capital is reportedly paying €15 million in cash, and the remainder of the purchase price will be provided as debt arranged by Danske Bank A/S. Buksesnedkeren designs the H2O and Signal apparel brands that generate sales of €150 million.