PARIS, France and NASHIK, India, January 18^th, 2022 – Exxelia, a leading designer and manufacturer of high-performance passive components and sub-systems, announces that it has completed the majority acquisition of Alcon Electronics on December 29^th, 2021. Alcon is a leading Indian designer and manufacturer of catalog and custom-designed film & aluminum electrolytic capacitors, specifically serving the renewable energy, induction heating equipment, medical imaging, power generation, and railways end markets.

Established in 1977 in Nashik, India, Alcon Electronics offers a wide range of film and screw terminal aluminum electrolytic capacitors for power electronic applications. Through continuous innovation and a focus on R&D, Alcon meets the evolving customized requirements and high-quality standards of its products and enjoys long-standing relationships with both Indian and international clients.

Since inception, Alcon has heavily invested in its state-of-the art facility in Nashik, India, becoming a niche-market leader in the country and competing with large international players.

With this partnership, Exxelia will benefit from the unique engineering capabilities of Alcon centered around testing & instrumentation equipment, leveraging it extensively within the group.

Paul Maisonnier, Chief Executive Officer of Exxelia, said: “We are excited to have Alcon join the Exxelia family! Alcon is an established, niche-market leader with great technology, very talented and committed teams and deep business and technical knowledge. Thanks to Alcon, we significantly strengthen our film and electrolytic product portfolio, and we gain a foothold in India which will allow us to better seize opportunities in this booming region and support our French customers with regards to their offset obligations”.

Siddharth Sachdev, Managing Director and Chief Executive Officer of Alcon Electronics, added: “Alcon is delighted to be a part of Exxelia, a people-centric passive component group focused on high reliability products for professional markets. We found ourselves sharing common values and vision and we believe that this combination enhances the capabilities of both groups to serve our combined customer base in film & aluminum electrolytic capacitors both in India and globally.”

KPMG India acted as the exclusive financial advisor to the shareholders of Alcon Electronics and Lincoln International acted as the exclusive financial advisor to Exxelia, for this transaction. On the legal side, Pioneer Legal, India acted as the legal advisors to Alcon Electronics and BTG Legal, India acted as the legal advisors to Exxelia.

Marie EVRARD
Marketing & Communication
Tel : +33 (0)1 49 23 10 66
marie.evrard@exxelia.com

Nordstjernan’s wholly owned subsidiary Rosti has acquired 100 percent of the shares in the US company Plastic Components, Inc. (“PCI”). The acquisition of PCI strengthens Rosti’s global position in plastic injection molding and creates a platform for continued growth in North America.

Rosti develops and manufactures injection-molded plastic components. The company’s offering includes container closures and lids for the food industry as well as manufacturing of components and complete products for selected consumer and industrial sectors. The company has manufacturing operations in China, Malaysia, Poland, Romania, the UK, Sweden, Turkey and Germany. Rosti had sales of approximately EUR 323 million in 2020.

PCI offers plastic injection molding in North America, with long-standing business relationships with a diverse customer base. The company – which boasts a high degree of innovation, with state-of-the-art production facilities in Germantown, Wisconsin, Clearfield, Utah and Cary, North Carolina – was sold by MPE Partners and a number of minority investors. The parties have agreed keep the full terms and conditions of the transaction confidential.

“Through the acquisition of PCI, Rosti is establishing a global footprint in plastic injection molding. This add-on acquisition is aligned with Nordstjernan’s focus on building leading international industrial companies,” says Nordstjernan’s CEO Peter Hofvenstam.

“M&A is an important part of Rosti’s growth strategy. We actively look for high-quality companies that can add new areas of expertise, geographic markets and customer segments. Through the acquisition of PCI, we are broadening Rosti’s customer base and creating an important platform for continued growth in the US. This will benefit our new and existing customers,” says Rosti’s Chairman Eric Persson.

Rosti is part of Nordstjernan’s Industry sector, which accounts for approximately one-fifth of Nordstjernan’s net asset value. In the Industry sector, Nordstjernan invests in industrial companies with an established business and which have long-term global growth potential.

Peter Hofvenstam

President and CEO

Nordstjernan AB
For more information, visit

Peter Hofvenstam, CEO, Nordstjernan

E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan

Telephone: +46 70 636 74 17

E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

Westpack, a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market, has partnered with Adelis Equity Partners (“Adelis”) for its next growth phase. Management will hold a significant ownership together with Adelis.

Westpack is a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market. The company’s customers are small, medium and large brand companies, as well as online and physical retailers.

Headquartered in Holstebro, Denmark, Westpack employs approx. 180 people, of which 150 are employed in Denmark and 30 people are employed in Asia. Westpack’s well diversified sourcing setup coupled with its own production in Denmark enables the company to serve its many customers with various types of packaging solutions. In recent years, Westpack has also seen a rapid growth in its B2B eCommerce business where customers place their own orders by adding their own logo to Westpack’s wide product assortment. The company has expanded its market presence throughout Europe in both its brand business and its online B2B business.

”Westpack is a market leader in a very fragmented market in Europe. The company has demonstrated that its business model creates great value for its customers. Westpack has outgrown the market for many consecutive years in both existing markets and by entering new markets, nevertheless the company’s market potential is still great,” says Martin Welna at Adelis.

“We see brand owners and retailers focusing more on ESG, reliability and flexibility in supply as well as design and development capabilities. Westpack has proven to be on the forefront on all of these parameters compared to competitors. The company’s value proposition is highly appreciated by its customers and the company has an outstanding customer satisfaction score. We are very excited about supporting this company in its continued growth,” Martin Welna at Adelis continues.

CEO at Westpack, Morten Dalsgaard, who continues as CEO and shareholder, is very satisfied with getting Adelis on board: ”With Adelis as new majority owner, we now have a great platform for continuing our international growth. With Adelis on the team, we will continue with our growth ambitions in our online business as well as expand our highly efficient production capacity in Denmark. These two elements, coupled with our strong and agile sourcing setup in Asia and Eastern Europe, are the cornerstones in our business model, which has demonstrated double-digit growth rates in recent years.”

“Adelis has shown a solid track-record of partnering with companies and actively contributing with a successful development, both in terms of organic growth and via add-on acquisitions. When it comes to add-on acquisitions, this is something we would like to take a closer look at. Adelis is very experienced in this field, and many of their portfolio companies have carried out successful add-on acquisitions. Westpack operates in a very fragmented market, so this is another good reason why our new majority owner is Adelis,” Morten Dalsgaard continues.

Adelis will become majority owner in Westpack, while management and key employees have invested a significant ownership stake in Westpack. Together, the parties expect to continue investing in an ambitious growth plan.

For further information:

Martin Welna, Adelis Equity Partners, +45 21 99 67 57, martin.welna@adelisequity.com

Joel Russ, Adelis Equity Partners, +46 73 543 30 68, joel.russ@adelisequity.com

Morten Dalgaard, CEO, Westpack, +45 41 71 75 81, mda@westpack.com

About Westpack A/S

Westpack design, develop, manufactures and sells special packaging and display solutions to more than 22.000 jeweler, watch- and glass retailers across Europe. Furthermore, Westpack provides tailormade solutions to more than 300 jewelry, watch and glass brands globally. The company is head quartered in Holstebro with its administration, sales and production. In Denmark, the company employs 150 people. Furthermore, Westpack has its own sourcing setup in China and Indonesia, where the company employs 30 people. Westpack was founded in Holstebro in 1953.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 30 platform investments and more than 120 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

Westpack, a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market, has partnered with Adelis Equity Partners (“Adelis”) for its next growth phase. Management will hold a significant ownership together with Adelis.

Westpack is a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market. The company’s customers are small, medium and large brand companies, as well as online and physical retailers.

Headquartered in Holstebro, Denmark, Westpack employs approx. 180 people, of which 150 are employed in Denmark and 30 people are employed in Asia. Westpack’s well diversified sourcing setup coupled with its own production in Denmark enables the company to serve its many customers with various types of packaging solutions. In recent years, Westpack has also seen a rapid growth in its B2B eCommerce business where customers place their own orders by adding their own logo to Westpack’s wide product assortment. The company has expanded its market presence throughout Europe in both its brand business and its online B2B business.

”Westpack is a market leader in a very fragmented market in Europe. The company has demonstrated that its business model creates great value for its customers. Westpack has outgrown the market for many consecutive years in both existing markets and by entering new markets, nevertheless the company’s market potential is still great,” says Martin Welna at Adelis.

“We see brand owners and retailers focusing more on ESG, reliability and flexibility in supply as well as design and development capabilities. Westpack has proven to be on the forefront on all of these parameters compared to competitors. The company’s value proposition is highly appreciated by its customers and the company has an outstanding customer satisfaction score. We are very excited about supporting this company in its continued growth,” Martin Welna at Adelis continues.

CEO at Westpack, Morten Dalsgaard, who continues as CEO and shareholder, is very satisfied with getting Adelis on board: ”With Adelis as new majority owner, we now have a great platform for continuing our international growth. With Adelis on the team, we will continue with our growth ambitions in our online business as well as expand our highly efficient production capacity in Denmark. These two elements, coupled with our strong and agile sourcing setup in Asia and Eastern Europe, are the cornerstones in our business model, which has demonstrated double-digit growth rates in recent years.”

“Adelis has shown a solid track-record of partnering with companies and actively contributing with a successful development, both in terms of organic growth and via add-on acquisitions. When it comes to add-on acquisitions, this is something we would like to take a closer look at. Adelis is very experienced in this field, and many of their portfolio companies have carried out successful add-on acquisitions. Westpack operates in a very fragmented market, so this is another good reason why our new majority owner is Adelis,” Morten Dalsgaard continues.

Adelis will become majority owner in Westpack, while management and key employees have invested a significant ownership stake in Westpack. Together, the parties expect to continue investing in an ambitious growth plan.

For further information:

Martin Welna, Adelis Equity Partners, +45 21 99 67 57, martin.welna@adelisequity.com

Joel Russ, Adelis Equity Partners, +46 73 543 30 68, joel.russ@adelisequity.com

Morten Dalgaard, CEO, Westpack, +45 41 71 75 81, mda@westpack.com

About Westpack A/S

Westpack design, develop, manufactures and sells special packaging and display solutions to more than 22.000 jeweler, watch- and glass retailers across Europe. Furthermore, Westpack provides tailormade solutions to more than 300 jewelry, watch and glass brands globally. The company is head quartered in Holstebro with its administration, sales and production. In Denmark, the company employs 150 people. Furthermore, Westpack has its own sourcing setup in China and Indonesia, where the company employs 30 people. Westpack was founded in Holstebro in 1953.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 30 platform investments and more than 120 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

LOS ANGELES, Dec. 20, 2021 /PRNewswire/ — Aurora Capital Partners (“Aurora”), a leading middle-market private equity firm, today announced that it has acquired Spray-Tek, LLC (“Spray-Tek” or “The Company”), North America’s leading provider of specialized spray drying and ingredient processing solutions. Terms of the transaction were not disclosed.

Founded in 1980, Spray-Tek is the largest independent provider of specialty spray drying and ingredient processing solutions, principally serving the food and beverage, personal and home care, and pharmaceutical and nutraceutical end markets. The Company is trusted by its global, blue-chip customers to produce a variety of distinctive and complex flavors, fragrances, and ingredients for many of the world’s most recognizable brands. Spray-Tek operates facilities in New Jersey and Pennsylvania and is on track to open a new state-of-the-art facility in Beloit, Wisconsin in early 2022. The Company leverages its proprietary dryer technology, deep process knowhow, and culture of operational excellence to offer the market’s broadest range of technical capabilities and spray-drying capacity.

“David and his team have built a tremendous platform, and we are thrilled to partner with them as the Company continues to accelerate its growth,” said Randy Moser, Partner at Aurora.  “The Company’s relentless focus on quality, process innovation, and customer service has allowed it to become the market leader in an attractive, high-growth industry where there are significant opportunities for both organic and inorganic investment.”

“Spray-Tek is an excellent fit for Aurora’s investment mandate,” said Mark Rosenbaum, Partner at Aurora.  “We are excited to resource the many growth initiatives that David and his team have identified, which will allow Spray-Tek to solve even more of its customers’ pain points.  We thank David and his team for selecting us as his partners and look forward to capitalizing on the momentum they have built over the last several years.”

“Aurora shares our customer-first approach, with an unwavering commitment to delivering world-class quality and service,” said David A. Brand, President and CEO of Spray-Tek. “Their exceptional track record of working with management teams to accelerate growth makes Aurora the ideal partner for Spray-Tek.  With Aurora’s strategic and financial support, we will be able to increase our drying capacity and expand our portfolio of service offerings to best meet our customers’ needs as they continue to innovate and grow their own product portfolios.”

This transaction marks the sixth investment from Aurora Equity Partners VI, which was activated in September 2020. It follows several recent Aurora investments within the broader Industrial Technologies sector, including Cold Chain Technologies, Inhance Technologies, and Pace Analytical Services.

KeyBanc Capital Markets acted as exclusive financial advisor and McDermott Will & Emery LLP served as legal advisor to Spray-Tek on the transaction. Piper Sandler & Co. served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora. Neuberger Berman Private Debt client funds provided debt financing for the transaction.

About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.

About Spray-Tek, LLC
Spray-Tek, LLC is the leading independent provider of specialty spray drying and ingredient processing solutions to the food and beverage, nutritional, pharmaceutical, nutraceutical, beauty & personal care, household products and soft chemical industries. The company was founded in Middlesex, NJ in 1980 and opened its Bethlehem, PA facility in 2002. Spray-Tek offers a wide breadth of spray drying and related ingredient processing capabilities, serving as an integral supplier and partner to its blue-chip customers.  Learn more about Spray-Tek and its capabilities here: www.Spray-Tek.com.

Aurora Media Contacts

Taylor Ingraham / Fred Schweinfurth
ASC Advisors
203-992-1230
tingraham@ascadvisors.com / fschweinfurth@ascadvisors.com

SOURCE Aurora Capital Partners

After the recently announced acquisition of Therma, Francks continues its Norwegian expansion through the acquisition of Invent AS in Bergen. Invent will together with Therma get a market leading position in Bergen. Invent has a long history and broad competence primarily in cooling and ventilation. The current owners will continue to develop the company in collaboration with Francks. Invent has a turnover of ca. NOK 35m.

 “We are very pleased that Invent – with its high competence and experience – has chosen to join Francks. Invent and Therma Bergen will form a strong team and get a market leading position in Bergen. Invent is a well-established family business with strong local roots that shares our vision and our values. It is very exciting to continue the future journey together when we now further expand our platform in Norway”, says Tomas Berggren, CEO of Francks Kylindustri.

“We are excited to be part of Francks and their expansion in Norway. Through our joint expertise, we will develop our offering in design, installation, and service to provide a stronger customer value proposition. Together with Francks and Therma, we look forward to leverage our joint base of expertise, experience and synergies to accelerate our growth in the expansive Bergen region” says Andreas Berg Peschina, CEO of Invent AS.

Francks Kylindustri is the leading Swedish provider of industrial and commercial refrigeration solutions with 28 offices across Sweden, from Malmö in the south to Luleå in the north.

For further information, please visit www.francksref.com or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

Tomas Berggren, CEO, Francks Kylindustri Sweden AB
+46 70 540 50 42, tomas.berggren@francksref.com