Timex Group takes 51% stake in Daniel Wellington

Written By Keven Chen

Timex Group has acquired a 51 percent majority stake in Swedish watch and jewellery brand Daniel Wellington. Financial terms were not disclosed.

Transaction snapshot

  • Deal value: N/A

  • Deal multiples: N/A

  • Deal type: Majority stake acquisition (51%), executed via conversion of Timex’s 2022 convertible loan and purchases of both new shares and existing shares from founder Filip Tysander.

  • Investors: Timex Group

Daniel Wellington will keep its headquarters in Stockholm. The company was founded in 2011 by Filip Tysander.

The parties first linked up in October 2022 through a strategic partnership that included Timex providing a convertible loan to Daniel Wellington. That loan has now been converted to equity as part of the transaction.

Recent trading metrics were reported in Swedish media. Daniel Wellington posted EBITDA of SEK 31 million ($5.0m) last year. Revenue for the year was SEK 830 million ($134.2m).

Founder Filip Tysander said Timex is the right partner to take the brand into its next growth phase.

Keven Chen
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