Game On: Amer Sports Prepares For Wall Street Debut With $1 Billion IPO

The sporting goods world gears up for a major shakeup as Amer Sports, the Finnish powerhouse behind iconic brands like Wilson, Salomon, and Atomic, filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE). This bold move aims to raise up to $1 billion, potentially valuing the company at a staggering $10 billion and marking a significant moment for both Amer Sports and the global sporting goods industry.

They say 'Amer Sports is a global group of iconic sports and outdoor brands, including Arc’teryx, Salomon, Wilson, Peak Performance, and Atomic. Our brands are creators of exceptional apparel, footwear, equipment, protective gear, and accessories that we believe give our consumers the confidence and comfort to excel. With over 10,800 employees globally, Amer Sports’ purpose is to elevate the world through sport and to inspire people to lead better, healthier lives. Our vision is to be the global leader in premium sports and outdoor brands. With corporate offices in Helsinki, Munich, Kraków, and Shanghai, we have operations in 41 countries and our products are sold in 100+ countries. Our revenue in 2022 was $3.5 billion.'

"This is a transformational moment for Amer Sports," declared James Prosser, president and CEO of Amer Sports. "By accessing the vibrant US capital markets, we will gain resources to fuel our ambitious growth plans, solidify our leadership position in the global sporting goods industry, and unlock exciting new opportunities for our passionate teams and dedicated athletes."

Amer Sports boasts a robust portfolio of premium brands, each a leader in its respective field. From Wilson's dominance in racquet sports to Salomon's cutting-edge winter gear and Atomic's high-performance skis, the company has carved a niche for itself among discerning athletes and casual enthusiasts alike. This brand strength, coupled with its consistent growth trajectory - revenue soared 20% year-over-year in the past two years - has investors buzzing with anticipation.

Analysts are forecasting a strong reception for the IPO, citing growing demand for premium sporting goods fueled by increased outdoor activities and health-conscious lifestyles. Amer Sports' focus on innovation, sustainability, and direct-to-consumer initiatives further bolsters its appeal in today's market.

However, some experts caution about potential headwinds. The sporting goods industry faces stiff competition from established players and nimble startups. Macroeconomic uncertainties and inflationary pressures could also impact consumer spending.

Undeterred, Amer Sports remains confident in its future. The company plans to leverage the IPO proceeds to expand its online presence, invest in research and development, and potentially acquire complementary brands. Prosser assures investors that Amer Sports is "laser-focused on delivering value to shareholders while remaining true to our mission of inspiring a world in love with sport."

Amer went private in 2019, after a consortium led by China's Anta Sports (2020.HK) acquired it in a deal that valued it at more than $5 billion. The consortium included ANTA Sports, FountainVest Partners, Anamered Investments, and Tencent. Amer Sports shares were valued at 4.6 billion euros, 40 percent over their average market value. Under the terms of the offer, Amer Sports remained a separate business entity, while Anta Sports provide R&D and production resources required for expansion on the Chinese market. Anta Sports is China’s largest sportswear manufacturer. Chip Wilson, the founder of Lululemon Athletica, owns about one-fifth of Amer Sports. Amer Sports was among the largest companies on the Helsinki Stock Exchange, with a market capitalization of approximately 4 billion euros.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. Amer Sports has applied to list its ordinary shares on the New York Stock Exchange under the symbol “AS”.

Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the proposed offering. Citigroup, UBS Investment Bank, Baird, BNP Paribas, CICC, CLSA, Evercore ISI, TD Cowen, Wells Fargo Securities, Deutsche Bank Securities and HSBC will act as bookrunners for the proposed offering. Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank and Tigress Financial Partners will act as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus, which forms a part of the Registration Statement. Copies of the Registration Statement and the preliminary prospectus included therein relating to the proposed offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at prospectus-ny@ny.email.gs.com; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attn: Prospectus Department, by telephone at 800-294-1322 or by email at dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

The Amer Sports IPO represents a pivotal moment not just for the company, but for the entire sporting goods industry. Whether this bold move translates into a smooth victory lap or an uphill battle remains to be seen. One thing is certain: the game for Amer Sports is just beginning, and Wall Street is watching with bated breath.