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Latour acquires SyxthSense Ltd, a U.K. based provider of sensor technology for building automation

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Investment AB Latour (publ) has, through its Finnish subsidiary Produal Oy, acquired SyxthSense Ltd, a United Kingdom-based company in advanced sensor technology for measurement and control in building automation solutions. The acquisition further widens Produal’s product offering towards the building automation segment and expands the group’s geographical reach with SyxthSense having a strong base in the UK.

SyxthSense is based in Topsham, Exeter United Kingdom. The company’s product range includes a holistic offering of field devices and room controllers for building automation. The company had an annual revenue of approximately 2 mGBP in 2018.

“I am delighted to welcome the whole SyxthSense team to Produal group”, says Anselmi Immonen, CEO of Produal. “We have co-operated already for many years and are convinced about their high product quality and customer-driven approach. This acquisition is an important step in our ambition to grow on the international market for building automation and creates a strong presence in the UK, which is one of the largest building automation markets in Europe.”

“We see Produal and Bemsiq as perfect long-term owners for SyxthSense” says Mr. Dene Matthews, marketing director of SyxthSense and one of the founders of the company. “We all look forward to continue developing and growing SyxthSense under the new ownership and alongside the other companies in the Produal group.”

Göteborg, September 3, 2019

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Anselmi Immonen, CEO Produal Oy, +358 50 9118068

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 57 billion. The wholly-owned industrial operations had an annual turnover of about SEK 12 billion in 2018.

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CapMan Real Estate acquires modern office property in Oslo from KLP

September 3, 2019

CapMan Real Estate Press release                                                      3 September 2019 at 9.00 a.m. EEST

CapMan Real Estate acquires modern office property in Oslo from KLP

CapMan Nordic Real Estate II fund has acquired Brynsalléen 2, a modern office property located in Helsfyr/Bryn, Greater Oslo.

Brynsalléen 2 is a 17,600 sqm office property located in Helsfyr/Bryn, one of the main office submarkets in Oslo. The property benefits from great access to public transport as well as the E6 motorway and Oslo circle road ring 3. The 10-storey property developed in 1999 is fully occupied by Atea who have announced a future relocation in 2020.

“We are very excited about the purchase of this property. The entire Helsfyr/Bryn area is going through a significant revitalisation and we see an excellent value add opportunity to upgrade the property for new tenants following Atea’s departure,” comments Magnus Berglund, Investment Director at CapMan Real Estate.

Brynsalléen 2 is the fourteenth acquisition of the €425 million Nordic Real Estate II fund raised in 2017. The focus of the fund is to invest mainly in office, retail and residential properties located in established submarkets of major Nordic cities.

CapMan Real Estate includes 38 dedicated professionals in the field of investment, asset management and property management. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:
Magnus Berglund, Investment Director, CapMan Real Estate, tel. +46 70 786 68 08

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg.

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Teamleader acquires software company Yadera: “a perfect match”

Fortino Capital

Today, we are proud: proud to announce that the Belgian software company Yadera is now under the wings of our portfolio company Teamleader! With this acquisition, they welcome a fine team with outstanding software into the Teamleader family.

Since 2012, Teamleader has been committed to simplifying the work of small and medium-sized companies. This acquisition strengthens the position of Teamleader as the all-in-one solution for SMEs.

“A perfect match”

The current Teamleader offering – a simple tool that combines CRM, project management and invoicing – is aimed at small service companies, such as construction professionals and a wide range of agencies. Yadera’s software describes itself as ‘Professional Services Automation’ and simplifies the daily work of medium-sized companies, such as creative agencies, marketing agencies, consultancy and IT companies. A great combination!

“We can now grow with customers who are expanding their business and getting bigger.”

Read more about this acquisition on Teamleader’s Blog.

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CPS Performance Materials Group Acquires GEO Specialty Chemicals

Arsenal Capital Partners
September 3, 2019

BOUND BROOK, NEW JERSEY, September 3, 2019 – CPS Performance Materials (“CPS”), a diversified specialty chemicals manufacturer of performance polymers, fine chemical and chemical illumination solutions, announced today the acquisition of GEO Specialty Chemicals (“GEO”).  CPS is a portfolio company of Arsenal Capital Partners (“Arsenal”).  The terms of the acquisition were not disclosed. 

GEO is a diverse supplier of specialty chemicals and materials to the coatings, adhesives, medical, water treatment and construction markets.  The company operates in three divisions – Paints & Coatings, Water Treatment and Specialty & Construction – with leading positions in its primary chemistries from 19 production sites in the U.S. and Europe. 

In the recent past, GEO has undertaken a number of expansions to increase its presence in the attractive markets of materials for contact lenses, additives for oil and gas drilling, and municipal and industrial water treatment.  This builds upon GEO’s already strong position in methacrylate chemistry where it is a leading supplier to the global coatings and adhesives markets.  GEO is also the largest U.S. producer of glycine, a key amino acid used in a variety of nutrition and personal care products. 

Jeremy Steinfink, President and CEO of CPS, said, “GEO significantly adds to the scale of CPS and positions us well in a number of growing end markets.  Our strategy will focus on investing in GEO’s businesses which complement many of CPS’s existing positions in attractive end markets such as CASE additives, specialty chemicals for pharma and medical uses, nutrition, personal care and a wide range of industrial applications.  We see opportunities to expand across the portfolio where we can leverage our chemical expertise and continue to be a reliable commerical partner.”

Ken Ghazey, CEO of GEO who will join the Board of Directors of CPS, said, “CPS is a great fit for our employees and business partners.  I look forward to working with Arsenal and the CPS team to continue to build the platform.”

Sal Gagliardo, an Operating Partner of Arsenal and the Chairman of CPS, commented, “The addition of GEO to CPS builds on our strategy to expand the breadth of our specialty chemicals platform with highly complementary capabilities and resources.  The acquisition strengthens CPS’s technology offerings to both GEO’s and CPS’s customers and positions CPS for significant growth.  We are delighted to have the GEO team join CPS.”

The Valence Group acted as financial advisor to Arsenal and CPS.

About GEO Specialty Chemicals

Founded in 1993, GEO has grown through strategic acquisition and commitment to niche markets to become a leading supplier of specialty chemicals.  GEO currently manufactures over 300 products for a broad customer base of more than 1,000.  GEO markets include: water treatment; coating and resin additives; specialty acrylic monomers; consumer additives; plus a broad range of dispersants, surfactants, and other additives for the concrete admixtures, synthetic rubber polymerization, gypsum processing and oil well drilling markets.  Visit http://www.geosc.com.

About CPS Performance Materials

CPS Performance Materials is a diversified specialty chemicals manufacturer of coatings additives, pharmaceutical intermediates and API’s, chemical illumination solutions, performance polymers, and fine chemicals and intermediates.  For more information visit: www.cpsperformancematerials.com.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies.  Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed 45 platform investments, and achieved 30 realizations.  Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 million to $500 million of initial enterprise value.  The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add.  For more information, visit www.arsenalcapital.com.

Arsenal

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Investor AB supports intention to list EQT AB

Investor

2019-09-02 07:31

Today EQT has announced its intention to strengthen its balance sheet by listing EQT AB on Nasdaq Stockholm. Investor supports this decision.

Investor was one of the founders of EQT in 1994 and has since its inception been an important sponsor of EQT’s funds. EQT has grown considerably during these 25 years and is today a leading manager of private equity and infrastructure funds with a total of 19 active funds and EUR 40 billion in assets under management.

“We support the intention to list EQT AB. A listing will provide further opportunities for EQT to grow and develop its successful business model built on industrial value creation. We will remain a long-term owner as we see attractive return potential”, says Johan Forssell, President and CEO of Investor.

Following EQT’s announcement of its intention to strengthen its balance sheet on September 10, 2018, Investor has participated in the restructuring of EQT AB. As a result of the restructuring, the relationship between Investor and EQT has been simplified.

Following the restructuring, EQT AB’s assets and revenues have increased and EQT AB is entitled to 100 percent of management fees and 35 percent of carried interest in future funds. In addition, Investor has increased its ownership from 19 to 23 percent. Investor will also have the option to invest up to 3 percent in future funds on a carry free basis and continue to be entitled to a certain share of carried interest in funds that Investor previously has invested in as sponsor. The previous sponsor agreement between EQT and Investor has been dissolved. It was a time-limited sponsor undertaking by Investor to invest in raised funds in exchange for a certain carried interest participation.

As EQT has communicated today, the ambition is to secure a free float in EQT AB of approximately 20 percent. In order to facilitate this, Investor will together with partners on a pro rata basis sell a limited share of its ownership in EQT AB in conjunction with the listing.

Investors’ engagement in EQT is long-term. The total engagement will remain a separate business area.

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Johan Hjertonsson assumes the position as CEO of Latour

Latour logo

In accordance with a previously published decision, Johan Hjertonsson assumed the position of President and CEO of Investment AB Latour (publ) on September 1, 2019. The decision was previously published through immediate publication on October 26, 2017.

Göteborg, September 2, 2019

INVESTMENT AB LATOUR (PUBL)
Olle Nordström
Chairman

For further information, please contact:
Olle Nordström, Chairman, +46 709 40 70 83

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 57 billion. The wholly-owned industrial operations has an annual turnover of about SEK 12 billion.  

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Latour acquires Custom LeatherCraft Mfg. LLC.

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Investment AB Latour has, through its fully owned subsidiary Hultafors Group AB, signed an agreement to acquire Custom LeatherCraft Mfg. LLC (“CLC”) based in Los Angeles, CA, USA. The completion of the transaction is expected to take place during the month of September, subject to customary closing conditions, including regulatory approval.

CLC is an industry leading designer, developer and marketer of work gear (e.g. tool belts and softside tool carriers), personal protective equipment (e.g. kneepads and gloves), and outdoor gear. The Company was founded in 1983 and products are marketed under the CLC brand in the U.S. and the Kuny’s Leather brand in Canada. Net sales amounted to 53 MUSD in 2018 with a profitability well in line with Hultafors Group. The company has around 60 employees.

The acquisition is part of Hultafors Group’s strategy to strengthen its presence in N. America and to broaden its portfolio within attractive product categories. Through the acquisition Hultafors Group will strengthen its sales and marketing capabilities in N. America as well as reinforcing the relationships with key customers within the distribution channel.

“We are excited about this acquisition as we believe that CLC will be a substantial piece of the puzzle in realizing our N. American strategy. CLC has an unparalleled track record in product excellence, quality and innovation within its categories, making the company very well suited to be part of the Hultafors Group” says Ole Kristian Jødahl, CEO at Hultafors Group AB.

“Hultafors Group will be an excellent company for CLC to partner with given its existing product portfolio of leading brands, its strong reputation among professional users and its existing customer footprint”, says Ron Pickens, CEO of CLC.

As an effect of the acquisition the net debt (excl. IFRS 16) of Investment AB Latour is expected to increase by just over 1.0 billion SEK compared to the net debt level at the end of June 2019 as communicated in the Interim report April – June 2019.

Göteborg, August 31, 2019

INVESTMENT AB LATOUR (PUBL)
Jan Svensson, CEO

For further information, please contact:
Ole Kristian Jødahl, CEO Hultafors Group AB, +47 900 88 305
Jens Eriksson, Director, M&A and Strategy Hultafors Group AB, +46 702 114 601

Hultafors Group is one of Europe’s largest companies to supply workwear, footwear, head protection, hand tools and ladders for professional users. The products are developed, manufactured and marketed as their own brands, which are available through leading distributors in about 40 markets, with emphasis on Europe and North America. Hultafors Group has more than 800 employees and an annual turnover of more than SEK 2.6 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 57 billion. The wholly-owned industrial operations had an annual turnover of about SEK 12 billion in 2018.

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CapMan Buyout’s exit from Komas Oy has been completed

August 30, 2019

CapMan Buyout Press Release
30 August 2019 at 3.45 p.m. EEST

CapMan Buyout’s exit from Komas Oy has been completed

Componenta Corporation has today closed the acquisition of Komas Oy from funds managed by CapMan, as announced on 16 May 2019. The arrangement has obtained all necessary approvals from authorities. According to the arrangement, the entire purchase price was paid with shares of the Componenta Corporation, which is listed on Nasdaq Helsinki.

Komas is a manufacturer of machined components, forged blanks, hydraulic pipes and plate cuttings. Componenta is an international technology company that specialises in supplying cast and machined components to its global customers, who are manufacturers of vehicles, machines and equipment.

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Please visit www.capman.com for more information.

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AURELIUS acquires Belgian building materials merchants YouBuild & MPRO from GRAFTON

Aurelius Capital

  • Leading building materials merchant group in Belgium in fragmented market
  • Transaction highlights the successful start of AURELIUS Benelux office
  • AURELIUS reconfirmed as leading investor for corporate spin-offs and complex carve-outs

Munich/Amsterdam, August 30, 2019– AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) (“AURELIUS”) has entered into a conditional agreement to acquire the Belgium-based heavyside building materials merchant activities from Grafton Group Plc (“Grafton”).Headquartered in Brussels, the combination of MPRO and YouBuild is one of the largest building materials merchant groups in Belgium. Today, the combined businesses achieve revenues of close to EUR 100m across its network of 16 stores employingc. 240 full-time employees. The transaction is expected to complete later this year and is conditional on carving-out the freehold property from the trading entities and on receiving approval from the Belgian Competition Authority.

Both MPRO and YouBuild are strong brands, each with a solid reputation as generalist suppliers of a broad range of high-quality heavy construction products with a high service level, resulting in strong customer appreciation and loyalty. The portfolio of stores is strategically located in the attractive regions of West Flanders, Brussels and Hainaut, and forms a robust platform for further build-up via a continued focus on increased customer proximity and service.

Following the acquisition, AURELIUS will support the management team with the execution of the separation from Grafton, after which the focus moves to the further integration of MPRO’s and YouBuild’s operations & footprint, as well as the exploration of growth opportunities in the fragmented market.

“Winning the competitive process for MPRO and YouBuild so soon after opening the Amsterdam office is a fantastic, prompt payoff to AURELIUS’ decision to step up its local presence in the Benelux market” said Gilles van Kooten, Country Manager AURELIUS Benelux.

“The transaction once again proves that our industry-leading experience in carve-out situations is highly appreciated by corporate sellers. We expect MPRO and YouBuild to significantly benefit from the attention they will receive under the AURELIUS umbrella” added Dirk Markus, Group CEO of AURELIUS.

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CVC Credit to support Paragon Partners’ acquisition of Pro Optik Group

Pro Optik is Germany’s third largest optician chain with a network of 145 stores, selling 400,000+ spectacles per year

CVC Credit Partners is pleased to announce that it has underwritten a unitranche for Paragon Partners’ management buyout of Pro Optik Group, in partnership with Hannibal Zemariam, Pro Optik’s Managing Director.

Formed in 1987, Pro Optik Group is Germany’s third largest optician chain with a network of 145 stores. The business operates a number of fully owned stores and also a successful partnership model with joint ventures and franchise partners. Its product range includes both branded designer frames as well as private label frames in combination with high-quality lenses, selling around 400,000 spectacles per year. The company also sells contact lenses and has recently added hearing aids to its offering.

Marco Attolini, Managing Partner and Christian Bettinger, Principal of Paragon Partners, commented: “We are delighted to have completed the acquisition of Pro Optik and are very happy to have secured the support of CVC Credit. Their understanding of the market and the vision for the growth of the business ensured that the transaction could be completed in a smooth and timely manner.”

Neale Broadhead, Head of European Private Debt in CVC Credit Partners’ European Private Debt business, added: “Pro Optik is a leading player in a steadily growing market, which is supported by stable underlying socioeconomic factors. It has a strong financial profile, a stable business model and multiple levers for growth. We look forward to supporting both Paragon and Pro Optik in their mutual objective to develop the business organically, through roll-out of the hearing-aid strategy, and potential M&A.”

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