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Oakley Capital Investments Ltd Monday said that Fund II has agreed to acquire North Sails Europe A/S and North Sails A/S, the exclusive licensee and distributor for North Sails sailing technology and products in Europe and New Zealand.

In a statement, the AIM-listed private equity company, which was established as a feeder to Oakley Capital Private Equity LP (Fund I) and OCPE II Master LP (Fund II), said the acquisition is expected to complete on June 30. The deal adds to Fund II’s acquisition of US-based North Technology Group in March.

“We are so pleased that North Sails North America and North Sails Europe are finally one. This common ownership and management will allow the North Sails Group to better pool its valuable resources and talent from a worldwide team of sailmaking experts,” North Technology Group Chief Executive Tom Whidden said in a statement. More.