Madshus has a new owner. The historic Norwegian ski brand is being acquired by ConsilTech, the Czech industrial group behind ski brand Kästle, in a deal announced today that also brings a familiar face to the top of the company.

Torstein Myklebostad, who spent the last decade as CEO of ski binding manufacturer Rottefella, will take over as CEO of Madshus and become a part-owner of the brand. The agreement has been signed, and the transaction is expected to close within the coming weeks.

ConsilTech is no stranger to rescuing heritage ski brands. The company previously acquired Kästle when the Austrian brand was in difficulty, rebuilt it into a competitive operation, and today runs a professional racing team. Madshus production will now benefit from that infrastructure, with part of the manufacturing previously based in China already relocated to Kästle’s factory in Nové Město, Czech Republic. Production at the Biri facility in Norway, which had been halted for several months, restarted just before this summer.

Also Read: From crisis to comeback at Madshus

Myklebostad was candid about the challenges ahead. “The cross-country ski market has been very challenging in the years since Covid, with weak results across the entire industry. Madshus is no exception, and going forward it will be important to ensure competitiveness and adapt the company to a market that is roughly half the size it was just a few years ago,” he said. He also pointed to marathon skiing as a reason for optimism, citing growing participation in events such as Birkebeinerrennet and Vasaloppet.

Madshus had been part of Elevate Outdoor Collective (EOC) before the sale. EOC CEO Josee Larocque welcomed the outcome, expressing confidence that the new owners have the skiing credentials and industrial know-how to take the brand forward.

Fredrik Kjellberg, who has served as Madshus CEO, will not be moving to the new ownership structure. He is instead joining EOC in a new role as Chief Marketing Officer.

The press release can be found HERE.

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