At what enterprise value was KUBUS SPORTS acquired in 2023?

You can find the full valuation details of KUBUS SPORTS on mynth capital. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.0x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of KUBUS SPORTS when it was acquired by TRANSFORMATION CAPITAL?

The exact EV/EBITDA multiple for KUBUS SPORTS is available on mynth capital. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.0x. Join our community for free to access full valuation data and industry trends.

When was KUBUS SPORTS acquired by TRANSFORMATION CAPITAL?

KUBUS SPORTS was acquired by TRANSFORMATION CAPITAL in 2023.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the KUBUS SPORTS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the KUBUS SPORTS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.oaklins.com/nl/en/deals/108998/

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Home Database Retail & ConsumerKUBUS SPORTS

05/2023

TRANSFORMATION CAPITAL takes majority stake in KUBUS SPORTS

NETHERLANDS Consumer Products / Sport REV 1m EUR - 100m EUR

Context

This growth equity transaction represents the entry of Transformation Capital as the majority institutional shareholder of Kubus Sports, partnering with long-standing CEO and co-owner Alex Cretier to transition the business from a regional brand aggregator into a scalable global house of premium sporting brands. The transaction is executed immediately following Kubus Sports' transformative acquisition of US-based watersports pioneer Naish earlier in 2026, an expansion that elevated the target's international profile but required sophisticated institutional backing to manage the resulting multi-jurisdictional integration and working capital requirements. Prior to this partnership, Kubus Sports successfully achieved a year-round operational model, yet reached a capital and operational ceiling where further expansion into the North American and Asia-Pacific markets required broader corporate infrastructure and scalable financing lines. Post-acquisition priorities will focus on finalizing the industrial and supply chain integration of the Naish brand, modernizing the group’s digital B2B procurement interfaces, extending the core product architectures into high-margin soft goods and accessories, and executing a targeted M&A playbook to consolidate complementary niche hardware sports brands under the unified Kubus distribution platform.

KUBUS SPORTS, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Kubus Sports operates as a vertically integrated brand manager, developer, and wholesale distributor of premium niche sporting goods and technical equipment, maintaining an all-season product portfolio across watersports, winter sports, field hockey, and padel. The company mitigates institutional seasonal demand volatility by balancing its product mix between summer disciplines (kiteboarding, windsurfing, wingsurfing, and foiling via proprietary brands like Naish, STX, and Prolimit) and winter or team sports (skiing, snowboarding, and hockey via brands like Brabo, Princess, Elan, and Nitro). Its capital-light financial architecture is driven by keeping core R&D, industrial design, and global brand positioning in-house, while outsourcing large-scale manufacturing to a diversified network of specialized third-party contract manufacturers, primarily located in high-efficiency Asian production hubs. Revenue generation is sustained through programmatic bulk B2B sales to international specialty retailers, multi-door sporting goods chains, and global e-commerce platforms, governed by strict seasonal pre-order cycles that lock in wholesale volumes months before shipping. Product velocity and market share are closely tied to technical product lifecycles and shifting consumer adoption curves in high-margin action sports, requiring high inventory turnover efficiency and tightly managed warehouse logistics within its centralized European fulfillment infrastructure.

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2022

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REFERENCES

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of KUBUS SPORTS by TRANSFORMATION CAPITAL are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: kubus sports

Acquirer: transformation capital