Industry News
Madshus, the world’s oldest continuously operating ski manufacturer, has a new owner. The 120-year-old Norwegian cross-country ski brand has been acquired by Czech industrial company ConsilTech Holding, the owner of Austrian ski brand Kästle. Former Rottefella CEO Torstein Myklebostad will become Madshus’ new CEO and part-owner as the company begins a new chapter focused on rebuilding competitiveness and strengthening its position in the Nordic ski market.
Elevate Outdoor Collective (EOC), which previously owned Madshus alongside brands including K2, Line, and Full Tilt, announced the agreement on August 3, 2026. The transaction is expected to be completed in the coming weeks.
“Madshus is one of the most recognized brands in cross-country skiing, and our goal is to ensure the continued success of the brand,” Myklebostad said in a press release. “With the new ownership, Madshus will continue to have owners who really know skiing and manufacturing. We are deeply committed to the sport of skiing, and together we will ensure that Madshus remains the preferred choice for cross-country skiing enthusiasts and recreational skiers worldwide.”
The acquisition comes after a challenging period for the Norwegian manufacturer. Founded in 1906 in Biri, Norway, Madshus has produced skis for more than a century and has been a fixture in Nordic skiing, with equipment used by generations of recreational skiers and Olympic champions. However, like much of the cross-country ski industry, the company struggled after the COVID-era outdoor boom faded. In January 2026, Madshus announced a temporary production halt at its Biri factory and furloughed 29 of its 66 employees as it worked through excess inventory, weak demand, and difficult market conditions.
“There is no secret that it has been a tough period in the sports industry since the pandemic, and especially in the ski industry,” former CEO Fredrik Kjellberg told Norwegian ski publication Langrenn.com at the time. “We have had three snow-poor winters in our most important market in Norway and Sweden.”
After several months of restructuring, Madshus resumed production at Biri earlier this year, with all furloughed employees returning to work. The company said the pause allowed it to reduce inventory and better align production with market demand.
Now, under new ownership, Madshus will become part of a group with direct experience rebuilding traditional ski brands.
ConsilTech acquired Kästle when the Austrian ski manufacturer was struggling and worked to restore the brand through renewed product development, expanded production capabilities, and investment in racing. Kästle now operates a professional racing program featuring several elite athletes, including Olympic gold medalist Ester Ledecká and Switzerland’s Jasmine Flury.
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That infrastructure will also support Madshus. Part of Madshus’ production that was previously based in China has already been transferred to Kästle’s high-tech factory in Nové Město, Czech Republic, one of Europe’s most important Nordic skiing regions and host of annual Biathlon World Cup competitions. Production at the historic Biri factory will continue, with skis ordered for the upcoming winter season currently being manufactured.
The cross-country ski market remains challenging. According to Myklebostad, the industry today is roughly half the size it was several years ago, making efficiency and competitiveness essential. “The market for cross-country skis has been very demanding in the years after Covid, with weak results across the industry,” Myklebostad said. “Madshus is no exception, and going forward it will be important to ensure competitiveness and adapt the company to a market that is about half the size of a few years ago.”
However, he also sees reasons for optimism. Participation in major long-distance races such as Norway’s Birkebeinerrennet and Sweden’s Vasaloppet continues to grow, showing that interest in Nordic skiing remains strong.
Madshus has also continued investing in innovation. Its SkateX system, a new boot and binding platform designed specifically for skate skiing, has attracted attention from elite athletes and the World Cup community as the company looks to compete in an evolving market.
For EOC, the sale represents a transition to new ownership better aligned with Madshus’ heritage. “We are very pleased that Madshus is moving forward with an owner who has roots in skiing and ski manufacturing, and with a leader who has solid experience and a true passion for the sport,” EOC CEO Josee Larocque said. “Madshus is a brand with a very special history, and the new ownership will be a good home for Madshus.”
Former Madshus CEO Fredrik Kjellberg will move into a new role as Chief Marketing Officer at Elevate Outdoor Collective. “It has been a privilege to lead Madshus through a period of major change,” Kjellberg said. “Handing over the leadership to Torstein, who has in-depth knowledge of the ski industry, gives me great confidence in the path forward for Madshus.”
For a brand that has survived two world wars, changing ski technology, and more than a century of shifting winter conditions, the new ownership and restored production will hopefully mark the turning point in its most recent struggles.
