Clearlake Capital portfolio company Alkegen completes majority investment in Luyang Energy Savings Material CO.

Clearlake

Alkegen acquires controlling ownership in leading Chinese specialty materials platform

BUFFALO, N.Y. and SANTA MONICA, C.A. – June 28, 2022 – Alkegen, one of the largest specialty materials platforms in the world that provides high performance materials used in advanced applications such as filtration media, battery technologies, high temperature insulation and fire protection, announced today that it has successfully completed a tender offering resulting in Alkegen obtaining a controlling ownership interest in Luyang Energy-Saving Materials Co. Ltd. (“Luyang” or the “Company”), a Shenzhen A-share listed platform headquartered in Yuquan, Shandong province, China.

Luyang produces energy-saving materials in the fields of ceramic fibers, soluble fibers, alumina fibers, and other high temperature insulating materials, and has been partnered with Alkegen since 2015.

“From the very start of our partnership with Luyang seven years ago, we have been continuously impressed by the Company’s management team and their ability to deliver on financial and commercial performance targets” said John Dandolph, President and Chief Executive Officer of Alkegen. “With this increased investment, we plan to leverage Luyang as our platform in Asia to extend and cross-sell many of Alkegen’s other products and technologies that are core to the strategic direction of our global economy. These include systems that are defining our collective future such as filtration media, battery technologies, electric vehicle products, and specialty insulation materials. We are excited to continue investing in Luyang and deploying the Company’s resources to help our customers live greener, breathe easier, and go further than ever before.”

“This transaction marks another milestone in Alkegen’s journey toward becoming the global leader in advanced materials focused on lowering energy usage, reducing emissions and pioneering innovative solutions for the future of attractive high growth industries such as lithium-ion batteries and advanced filtration,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner and Managing Director, at Clearlake.

“We couldn’t be more excited to sponsor John and the Alkegen team in this complex, transformative transaction that we believe will create meaningful value for customers and stakeholders globally, and is a great example of Clearlake’s O.P.S.® value creation playbook in action,” added Nate Mejías, Principal at Clearlake.

About Alkegen

Alkegen creates high performance specialty materials used in advanced applications including electric vehicles, energy storage, filtration, fire protection and high temperature insulation, among many others. Alkegen’s products are designed with the ultimate goal of saving energy, reducing pollution, and improving safety for people, buildings and equipment by delivering on our mission of helping the world breathe easier, live greener and go further than ever before. Alkegen has 75 manufacturing facilities operating in 12 countries with 9,000+ employees globally. More information is available at www.alkegen.com.

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

Media Contacts:

 

Kristen Weiss

Alkegen

kweiss@alkegen.com

352.424.3169

 

Jennifer Hurson

Clearlake

jhurson@lambert.com

845.507.0571

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Ratos carries out major investment in new platform – acquires majority stake in Knightec

Ratos

Ratos has signed an agreement to acquire 70% of the consulting company Knightec, thereby entering into a partnership with co-founder and CEO Dimitris Gioulekas. Over the past 12 months, Knightec had sales of SEK 941m, with adjusted EBITA of SEK 140m. The cash-free, debt-free purchase price for 100% of the company (enterprise value) amounts to SEK 1,625m, corresponding to a multiple of 11.6 (EV/EBITA).

Knightec was founded in 2003 and has experienced strong growth ever since, mainly generated organically but also through strategic acquisitions. The company stands out thanks to its rapid rate of change and industry-leading profitability. Through its unique customer offerings and strong community involvement, Knightec has established a strong market position in technology, design and digitalisation of products and services.

“I am impressed by Knightec’s development in recent years, and Ratos is proud to have been entrusted to enter into a partnership with CEO and co-founder Dimitris Gioulekas and thereby contribute to the company’s continued growth. Knightec currently holds a strong position in the market and is an excellent start to our focus on this sector, which will be an important area for Ratos going forward. Through this acquisition, we will gain exposure to the growing consultancy industry, where we already have solid experience,” says Jonas Wiström, President and CEO, Ratos.

“Knightec will remain a driving force in the digital transformation towards sustainable products and services. Our ability to establish partnerships with key customers and partners has been crucial to our success. This partnership with Ratos will create excellent opportunities to continue investing in new areas in order to strengthen our market position and continue to deliver industry-leading growth and profitability,” says Dimitris Gioulekas, co-founder and CEO, Knightec.

With over 800 employees across Sweden, Knightec specialises in advanced projects that straddle technology, design and digitalisation. Its customers include large corporations with a leading position in various sectors, such as automotive, pharmaceutical, medical technology, finance, telecom, media and security.

Financing and impact on Ratos
The acquisition was financed with Ratos’s own funds and bank financing. For the Ratos Group, the acquisition corresponds to a pro forma increase in sales of just over 4% and an increase of 7% in adjusted EBITA for LTM May 2022. The Ratos Group’s leverage in April 2022 amounted to 0.8x EBITDA and will increase pro forma to 1.4x EBITDA. The CEO and other key employees of Knightec will make a reinvestment in conjunction with the transaction, with their holding amounting to approximately 30% of the shares in the company. After a certain period of time and at the earliest in full after five years, both these key employees and Ratos have a customary right to demand that Ratos acquire the shares at market value.

The acquisition of Knightec is conditional on customary competition clearance.

Press briefing
Representatives of the media are welcome to a press briefing at 09.45 a.m. CEST at Ratos’s office, Sturegatan 10 in Stockholm. Participants will be Jonas Wiström, President and CEO at Ratos and Dimitris Gioulekas, CEO at Knightec. It is also possible to participate digitally via Teams. Mandatory registration, contact VP communication Josefine Uppling, +46 76 114 54 21 or e-mail josefine.uppling@ratos.com.

For further information and media contact:
Jonas Wiström, President and CEO, Ratos, +46 76 114 54 21
Dimitris Gioulekas, CEO, Knightec, +46 70 569 96 88
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

This is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 a.m. CEST on 16 June 2022.

About Ratos
Ratos is a business group consisting of 14 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 25 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Gimv takes a significant interest in Picot, an industrial group active in the production of gates & fencing and provider of fencing solutions

GIMV

Topic: Investment

Gimv acquires an interest of approximately 30% in Picot, which was born out of the French market leader Dirickx and is expanding in France and other regions in Europe. With Gimv joining alongside the current shareholders and management, the strategy of internal growth and acquisitions will be continued with a view to building market leadership in Europe.

Picot (Congrier – Fr, www.dirickx.fr) produces fencing and gates, distributes its products through various channels to the private and corporate markets, and is also active in the installation of fencing solutions. In the French market, Picot is the market leader and has several production units; internationally, the group has branches mainly in Sweden, Poland, the Netherlands and Italy. At the end of 2021, Picot had a turnover of EUR 212m and employed 926 people.

The renewed strategy around French Dirickx was set in motion in 2017 with the acquisition of the company by Robur Capital together with co-investor Telesco. The company has now doubled in size by broadening its product range, tapping new geographical markets and making a whole series of selective acquisitions. With the entry of Gimv, Picot wishes to continue and strengthen this strategy in France and in several European countries.

Wim Deblauwe, CEO of Picot, says: “Since 2017 Picot group has grown from a strong player mainly in France to a European position, through a sophisticated strategy of product innovation, customer focus and targeted acquisitions. We are ready to push through to the position of European market leader and are extremely pleased to find a partner in Gimv who endorses our industrial vision and can help us with the further expansion of Picot.”

Eric de La Vigne, Principal Smart Industries, comments: “Picot is a model of industrial dynamism that we are thrilled to accompany. As a minority investor, we are perfectly in line with the path mapped out by the existing shareholders and are strengthening the foundation with them and the management in particular.”

Tom Van de Voorde, Managing Partner of Smart Industries team, added: “The industrial and technical knowledge, together with the customer focus of the entire company, drives the Picot group forward and shows that industrial companies with the right vision have a bright future. In addition, the will to continue the roll-up in the sector, supported by a stronger capital base, makes the growth potential of this investment very attractive.”

This new investment becomes part of Gimv’s Smart Industries platform, aimed at companies providing B2B products and services, based on value creation through engineering and technology.

 

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Nordstjernan invests in engcon, the world’s leading manufacturer of tiltrotators

Nordstjernan

Nordstjernan has made a commitment to invest in the industrial company engcon. engcon is the world’s leading manufacturer of tiltrotators with a global market share of approximately 45 percent. The company was founded in 1990 with the ambition to change the world of digging through product innovation and focus on end-users. engcon develops innovative value-creating and sustainable solutions that contribute to increased resource efficiency, safety and profitability.

During the 12-month period ended March 31, 2022, engcon’s revenues amounted to SEK 1,571 million and adjusted operating profit to SEK 351 million, corresponding to an adjusted operating margin of 22.3 percent.

Nordstjernan’s investment amounts to approximately SEK 350 million, corresponding to 5 percent of the company’s shares, and will be carried out in connection with the listing of engcon on Nasdaq Stockholm.

“I am excited that Nordstjernan, as a long-term actor, has chosen to invest in engcon in connection with the listing and look forward to continue to develop the company with their support,” says Stig Engström, founder and main owner of engcon.

“Nordstjernan have been following engcon for a long time and are now very pleased to invest in the company in connection with its listing. Within our Industry sector, Nordstjernan’s strategy is to invest in well-managed industrial companies with long-term global growth potential. We can see that engcon fits in very well with this and look forward to supporting the company over the long term,” says Nordstjernan’s CEO Peter Hofvenstam.

Peter Hofvenstam
President and CEO
Nordstjernan AB

 

 

 

Questions will be answered by:

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.

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Audax Private Equity Announces Strategic Investment in Thermogenics

Audax Group
JUN 02, 2022

Audax Private Equity (“Audax”) today announced it has acquired Thermogenics, Inc. (“Thermogenics” or the “Company”), a leading North American provider of boiler service & maintenance, equipment sales and rentals, from Ironbridge Equity Partners and certain other minority investors. Financial terms of the transaction were not disclosed. Thermogenics represents the first investment by Audax’ Origins Fund I.

Headquartered in Ontario with operations in Canada and the US, Thermogenics specializes in providing complete boiler lifecycle solutions to a diverse set of commercial and industrial customers and end markets. To complement its service-driven business model, the Company designs and manufacturers differentiated, energy efficient boilers with proprietary coil-tube technology, and provides best-in-class parts and maintenance services through its highly-trained team of technicians.

Ross Garland, CEO of Thermogenics, commented, “We are thrilled to be partnering with Audax as we enter an exciting new chapter in our history. This investment will help Thermogenics accelerate growth and expand its boiler product and service offerings to customers. Partnering with Audax will only enhance our ability to continue doing what we do best – providing trusted solutions to our clients.”
“We are excited to partner with Ross and the rest of the Thermogenics management team to accelerate the growth of the Company and build upon their success as a best-in-class provider of boiler solutions,” said Greg Smith, Managing Director at Audax Private Equity.

“Led by a world-class management team, Thermogenics has developed an excellent reputation within the industry as the premier provider of coil-tube boiler products, parts and services,” said Don Bramley, Managing Director at Audax Private Equity. “We believe Thermogenics’ high-quality product and service offerings and loyal customer base complement our portfolio of industry leading companies.”

Solomon Partners served as financial advisor to Audax and KeyBanc Capital Markets served as financial advisor to Thermogenics. Kirkland & Ellis and Blakes served as legal counsel to Audax and Davies served as legal counsel to Thermogenics.

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Gimv further invests in industrial automation and becomes majority owner of workpiece carrier specialist Variotech

Topic: Investment

Variotech is Germany’s leading manufacturer of innovative workpiece carriers, which are primarily used in fully automated manufacturing processes for transporting and handling components of various forms and sizes. The company’s customized products predominantly comprise reusable, exceptionally durable workpiece carriers that are manufactured almost exclusively from recycled materials by thermoforming.

Established in 1998, Variotech (www.variotech.de), which is headquartered in Nordhorn/Lower Saxony, has developed into a successful automation technology specialist in recent years. Variotech’s products are not just critical for transportation within or between sites, but are in particular supporting automated operations during optimised production processes by using individual geometries. Sensitive workpieces such as PCBs or electrical sensors can be safely stored, transported, and precisely positioned. High packing density, stability, torsion resistance and electrostatic discharge are just some of the system’s key attributes and product benefits.

Variotech is characterised by high innovative strength, agility and manufacturing penetration. During product development, the experts ensure close collaboration  with its customers in order to find the perfect interaction between the workpiece, the carrier and robotics. Variotech supplies customers from a broad range of industries, such as the automotive industry, electronics, semiconductor technology, and medical technology but also household technology and consumer goods. In addition to the continued growth in the European home market, the company defined an ambitious expansion strategy for  North America with its recently established subsidiary in Indianapolis.

Variotech’s products are a key component in production automation and allow the increasing use of robotics, as such enabling for the re-shoring of industrial production in Europe. By primarily using recycled materials, combined with the durability of its products, the company also supports environmentally-conscious manufacturing processes – two major production development trends for which Variotech is exceptionally well positioned.

“With our offering of workpiece carriers specifically developed to ensure the highest quality standards, we believe we are perfectly positioned in a flourishing market environment with significant earnings potential”, notes Variotech’s CEO Benedikt Fleig, who  re-invests alongside Gimv as co-investor. “We have shown strong growth in the past and, with our new site in Indianapolis, have laid the foundation for a successful expansion of our business activities in North America. With Gimv, we have found a strong partner to continue our successful journey by executing on the wide range of opportunities in Germany and abroad. Gimv won the day in a multi-stage process and we have no doubt that we have made an outstanding choice for a successful future.”

“With Variotech we are delighted to have a fantastic new addition to our Smart Industries portfolio and we are proud having convinced with our partnership offering and our well-balanced, hands-on approach”, explains Ronald Bartel, Head of Gimv Germany and responsible for the Smart Industries investment platform at the company’s German office in Munich. “Together with the management and the entire team we want to implement our growth plans without delay and leverage Variotech’s top-class performance as a customer-oriented enabler for sophisticated and technically perfected automation.”

The sellers of Variotech consist of a group of investors. The parties agreed not to disclose the remaining details of the transaction.

 

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Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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IK Partners to sell 2Connect to Rivean Capital

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap II Fund (“IK SC II”) has reached an agreement to sell 2Connect (“the Company”) to Rivean Capital alongside management who will be reinvesting. Financial terms of the transaction are not disclosed.

2Connect designs, develops and produces innovative and customised interconnection solutions for original equipment manufacturers (“OEMs”) and original design manufacturers (“ODMs”) globally.

Founded in 2000, the Company prides itself on setting new standards for interconnection solutions by designing high-quality and cost-effective units in partnership with its long-term client base. 2Connect employs over 450 people across its headquarters in Waalwijk, the Netherlands and three manufacturing sites in Romania and Germany. Their market reach spans over 40 countries.

IK invested in 2Connect in November 2018 and since then, the Company has more than doubled its revenues, completed two add-on acquisitions in both Germany and the Netherlands, expanded internationally and showed strong capability to scale its operations.

Mark van den Heuvel, CEO of 2Connect, commented: “We are delighted to have enjoyed a successful partnership with IK, which has seen 2Connect grow beyond all expectations and deliver on its strategic goals as a business and for our customers. Having expanded our footprint internationally we are delighted to welcome Rivean Capital on board for the next stage of the journey.”

Sander van Vreumingen, Partner at IK and Advisor to the IK SC II Fund, added: “It has been a pleasure working with the team at 2Connect for the past three years. The business is uniquely placed to capitalise on continued positive megatrends driving growth of automation and digitisation, increasing demand for sensors and advanced connectors. We are proud of everything we have achieved together and wish them well as they continue with a new partner.”

Tom Muizers, Senior Partner at Rivean Capital, said: “We are truly impressed with 2Connect’s track record of consistent growth, its entrepreneurial management team as well as its ability to maintain high standards for demanding customers while scaling up the business operationally. We are excited to join Mark and the team to build on this momentum and support them in the Company’s next phase of development and growth.”

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

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Gimv invests in Variass, a specialized developer and producer of electronic and mechatronic products and systems

GIMV

Topic: Investment

Gimv acquires a majority stake in Variass, a leading partner of international OEM customers for the development and production of electronics and complete systems. With this transaction, Gimv strengthens its position in the growing market for electronic products, in which it is active since 2020 with Applied Micro Electronics (“AME”).

Variass (Veendam – NL, www.variass.nl) was founded in 1989 and has developed into a leading supplier of technology intensive electronic solutions under the management of Henk Smid. The company focuses on the “high-mix, low-volume, high-complexity” segment and supports customers in product development, industrialization, (serial) production, logistics and lifecycle management. The added value of Variass lies in the specific technological expertise, extensive production- and compliance capabilities and the high degree of reliability, quality and flexibility. As a result, the company has become a strong partner for some forty OEM customers in the medical and industrial segments and defense & security. The company has approximately 140 employees and realised a turnover of c. EUR 45 million.

Due to the increasing electrification of society, the demand for electronic modules and products will continue to grow. With its expertise to combine and integrate development and production, Variass, like AME, is uniquely positioned to find solutions to the complex challenges of its customers. With the support of Gimv, and a mutual strategic-operational collaboration with AME, Variass aims to achieve a substantial acceleration in growth and further increase the added value for its customers. The complementarity of the two companies in terms of technology and production capacities is an important component in this.

Henk Smid, founder and CEO of Variass, states: “Gimv is for us the right partner for a successful future as they underwrite our strategy and business operations. It is a wonderful opportunity to strengthen our position by starting a partnership with AME whilst guaranteeing the continuity of Variass. We have strong complementarities in the field of Development & Operational Excellence, which will benefit the customers of AME and Variass. We work with the same production platform, enabling us to offer our customer even better continuity in a strongly changing market by producing from multiple locations.”

Boris Wirtz, Partner Gimv Smart Industries, indicates: “We are very impressed with the strong development that Variass has gone through and the long-term partnerships that the company has built with its customers. With Henk’s leadership and his focus on continuous improvement, a mature organization has emerged with a strong focus on financial and operational efficiency through the application of smart automation. We are pleased to have been able to further strengthen our position in the electronics market with Variass and look forward to further strengthen the position of Variass and AME and the added value for customers through targeted collaboration.”

Tom Van de Voorde, Managing Partner Gimv and Head Smart Industries, adds: “With Variass and AME, Gimv is well-positioned to benefit from the further electrification of our society in the coming years and to support high-tech industrial customers with their products. The ambition of both companies and the crucial contribution they make to the world of tomorrow are in line with the strategy of the Smart Industries platform. We very much look forward to realise our growth ambitions together with the team.”

This new investment will be part of Gimv’s Smart Industries platform, aimed at companies that provide B2B products and services, based on value creation through innovation and intelligent technology.

The transaction is subject to customary closing conditions, including approval from the competition authorities. No further financial details will be disclosed.

 

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Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Active Capital Company invests in German machine building company LIEB

ActiveCapital

The new phase for the family business enables succession and continues growth in the semiconductor industry

Active Capital Company (ACC) acquired the shares of Werner Lieb GmbH & Co KG (LIEB). LIEB is a German machine building company and a specialist in developing and manufacturing automation solutions with a focus on the semiconductor industry. With this next platform investment, ACC is expanding its portfolio in Germany whilst leveraging on its hands-on investment approach and strong track record in investing in machine building companies.

Expand and internationalise offering for the semiconductor industry

Hartwig Ostermeyer, partner at ACC: “We believe that LIEB has an excellent position to grow with the increasing demand for chip production capacity, especially in Europe. LIEB is standing for more than 60 years of highest German machine building expertise and has built an excellent reputation and customer base in the semiconductor industry in recent years”. ACC sees huge potential in further innovation and internationalisation. “LIEB has an impressive innovation pipeline, and we will invest in commercialisation and offering these solutions to an international customer base.

Secure company succession of family-owned SME

Steffen Lieb, previous co-shareholder of Lieb: ”We started this process to sort out a succession plan and have found not only a trustworthy new shareholder but a true partner, who will actively support LIEB in realising its strategic ambitions.” His brother and previous co-shareholder Michael Lieb added: “We have been impressed by the technical expertise, the entrepreneurship and active approach and we are convinced that ACC is the right partner for our family-heritage.

About LIEB

LIEB, based in Rödental, Germany, was founded in 1955 by Werner Lieb, the grandfather of the current managing partners Steffen and Michael Lieb. After the sudden death of the company founder in 1982, the company was continued by his son, Dieter Lieb, until 2006. At the beginning of 2007, he transferred the management of the company to his two sons. Core competence is to engineer and produce specialised automation machinery increasing efficiency and quality in high precision production processes. In recent years the company has specialised in automation solutions for the semiconductor industry and these machines are used by leading chip manufacturers worldwide. www.werner-lieb.de

About Active Capital Company

ACC is an independent hands-on private equity investor focused on small and medium sized enterprises in the Netherlands and Germany. ACC invests in companies active in the sectors Industry, Technical Wholesale and Business Services with revenues between € 10m and € 100m. Through a highly entrepreneurial and active approach, ACC maximises the long-term value of its investments by supporting management in the execution of value enhancing projects and providing access to its extensive partner network. ACC currently invests from its fourth fund and started its German operations in 2019 with the investment in and successful transformation of SchahlLED. ACC has offices in Amsterdam and Munich. www.activecapitalcompany.com

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Ferd acquires 33 percent of the diagnostics company Aidian

Nordstjernan

The Finnish company Aidian develops, manufactures and sells instruments and tests that are used in such fields as primary care to provide quick and accurate test results. Aidian’s range of tests addresses several global health problems, such as antimicrobial resistance (AMR), diabetes and colorectal cancer. Aidian has tests that are intended to reduce unnecessary prescriptions of antibiotics, which is a driver behind the growing threat from AMR and antibiotic-resistant bacteria.
“Finnish company Aidian has built up a leading, global position in point-of-care diagnostics. The company’s instruments and tests are a key part of meeting global health-related challenges. Together with the majority shareholder Nordstjernan we want to develop the company further, with the aim of continuing to build up a leading player in point-of-care diagnostics”, says Morten Borge, CEO of Ferd.
Earlier this year, the Swedish family-controlled investment company Nordstjernan announced that it had acquired 100 percent of the shares in Aidian. Ferd is now purchasing 33 percent of the shares, thus becoming a part-owner of Aidian.
“We are very pleased to have Ferd as a partner in Aidian’s further development and growth journey. Nordstjernan and Ferd share many similarities in that we are family-controlled companies that both apply a long-term approach to our investments. We both also see great potential in the healthcare sector”, says Peter Hofvenstam, CEO of Nordstjernan.
The parties have agreed not to disclose the conditions of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB
Questions will be answered by:
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.


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