Following a strategic reorientation during the 1980s, Aritmos transformed from a Swedish food company into an international sports and leisure group. In 1993, the Aritmos group consisted primarily of:

All the companies possessed strong brand names in the sports and leisure sector, but due to accelerating losses, Aritmos saw its share price drop more than 50% in twelve months. A lack of operational and strategic direction was obvious. Proventus conducted a comprehensive analysis of the group and concluded that significant values could be generated by streamlining and strategically restructuring operations.

Proventus acquired 44% of Aritmos in February 1993, in a block trade combining simultaneous market purchases. Proventus took the first step towards reversing the negative earnings trend of Aritmos by appointing a new president and CEO. Proventus and the company’s new management team initiated a comprehensive restructuring program and installed new management in the subsidiaries. Business concepts were redefined and individual strategic plans were formulated with the aim of reversing the negative trends and building platforms for future growth in all subsidiaries. By 1994, all but one of the subsidiaries had returned to profitability; a year later, all of them were profitable.

Following the turnaround, two of the subsidiaries, Monark and Stiga, were merged. The new entity, Monark Stiga, as well as Abu Garcia, were spun-off to the shareholders and listed separately on the Stockholm Stock Exchange. Following the spin-off, Proventus acquired 100% of the remaining Aritmos properties, then consisting of Puma, Etonic and Tretorn. Subsequently, their holdings in Monark Stiga and Abu Garcia were sold in two separate transactions. Monark Stiga was sold to a Swedish entrepreneur in the industry and Abu Garcia to a US industrial buyer. In 1996, after further operational improvements, Etonic was also sold to a US industrial buyer.