Investment AB Latour has, through its subsidiary Hultafors Group AB, signed an agreement to acquire Johnson Level & Tool Mfg. Co., Inc., (“Johnson”) based in Wisconsin in the United States. Closing will take place with immediate effect.

Johnson is a well-recognized provider of layout and measuring tools, being a market leader in several channels of distribution. Net sales amounted to c:a 36 MUSD in 2017 with a profitability well in line with Latour’s financial targets. The company has 70 employees.

The acquisition is part of Hultafors Group’s strategy to strengthen its presence in North America. Through the acquisition Hultafors Group will gain access to a wide network of distribution points in relevant sales channels in the United States, as well as a complete portfolio of levels, lasers and other construction measuring, marking and layout tools.

“We are excited and honored to be given the opportunity to inherit this company, which the Johnson family has built up and developed over many, many years. Johnson brings a strong portfolio of products and customer relationships that I believe will make a significant contribution to Hultafors Group going forward”, says Ole Kristian Jødahl, CEO at Hultafors Group AB.

“Hultafors Group is a company which we have known for 30 years and we believe the long-term perspective and commitment that characterizes Hultafors Group will form an excellent foundation for further developing Johnson as a company for many years to come”, say Bill and Bob Johnson, previous owners of Johnson.

As an effect of the acquisition the net debt of Investment AB Latour is expected to increase to almost SEK 5,0 billion.

Göteborg, April 30, 2018

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 offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike. Through its various brands Hultafors Group is represented in 40 countries and has over 11,000 point of sales. Hultafors Group has 700 employees and an annual turnover of about SEK 1.9 billion.

Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 50 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.

3i Group plc (“3i”) today announces that Weener Plastics Group (“WP”), a leading manufacturer of innovative plastic packaging products for fast moving consumer goods companies in which 3i invested in June 2015, is acquiring Proenfar, a Colombia-based manufacturer of pharmaceutical and cosmetics plastic packaging solutions for the Latin American market.

This acquisition fits WP’s strategy of strengthening its geographic footprint, adding new innovative products to its existing portfolio and increasing its market share in strategic product categories such as deodorant packaging as well as entering new end markets, i.e. pharmaceutical.

The combined business will make WP a leading player in Latin America with revenues in excess of €90m in the region, through expanding its existing Mexican operations and adding new manufacturing sites in Colombia and Argentina, as well as a number of regional sales offices.

Proenfar, which employs more than 1,600 staff, was founded in 1946 and is a manufacturer of value-added packaging solutions for the pharmaceutical and cosmetic end markets. The company has four production sites and seven sales offices across Latin America. It serves clients across 20 countries and approximately 30% of its revenues are exports. The company’s services cover the entire value chain from project management and concept development, through tool building and testing, to production and filling.

Ulf von Haacke, 3i Managing Director and Head of Industrial, 3i Private Equity, commented:

“Proenfar fits perfectly into WP’s strategy of strengthening its emerging markets presence, growing in strategic product categories and adding innovative products. By acquiring Proenfar, WP will become a leading player in the Latin American dispensing products market and Proenfar will diversify WP’s current end market exposure through the addition of high margin pharma packaging.”

Roel Zeevat, Chief Executive Officer of WP, said:

“I am delighted by the acquisition of Proenfar which expands our offering into new geographies and products. The company is a leading player in the Latin American plastic dispensing packaging market and is very focused on innovation, with 40 R&D employees dedicated to launching new products and improvements, which will benefit our customers. We look forward to working with our new colleagues at Proenfar to drive further growth in our business.”

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IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK Small Cap II Fund together with Management and the founders has reached an agreement to acquire Bahr Modultechnik GmbH (“Bahr” or “the Company”), a leading manufacturer of modular positioning systems. Financial terms of the transaction are not disclosed, and the completion of the transaction is subject to regulatory approvals.

Founded in 1990 by the brothers Frank and Dirk Bahr, Bahr Modultechnik focuses on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products. Accurate and robust positioning systems are required in a wide variety of industries from mechanical engineering to medical technology. The Company’s unique linear positioning systems are sold in more than 20 countries around the globe.

The investment marks the first acquisition of IK’s recently raised IK Small Cap II Fund which closed at its hard cap of EUR 550 million in February 2018. Bahr represents the core characteristics that IK looks for in a business including: (i) highly sophisticated product offering at industry leading quality and performance levels, (ii) strong customer retention with >90% of sales related to recurring and repeating loyal customers, (iii) capable management team and (iv) track record of long-term and sustainable profitability and growth.

Bahr is a market leading family-owned business, led by founder Dirk Bahr who will continue to manage the business day-to-day alongside Cihan Halavurt (Head of Sales and Strategy). IK will work with Dirk and Cihan to accelerate the Company’s organic growth strategy and will continue to invest in its operations, route-to-market and product development.

Frank Bahr, Founder, said:

”We are very proud of the Company’s development and to have found the right partner in IK for the years to come. This is a natural time for a change in ownership structure.”

Dirk Bahr, Founder, commented:

”Innovation has always been at the heart of our business as we seek to provide our customers with practical solutions using the highest quality materials and technology. In IK we have found a partner who shares our mind-set. We look forward to working together with their experienced team to continuously develop the Company and its market positioning.”

Nils Pohlmann, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund said:

“We are delighted to be working with the management team to build on the great achievements of the Bahr family, who has successfully established Bahr as one of the most innovative industrial companies for linear positioning systems. IK has a strong track record of successful investments in industrial companies and also in managing succession situations. We look forward to supporting the Company’s expansion.”

The acquisition of Bahr represents IK’s sixth small cap investment in DACH and first investment in the newly established IK Small Cap II Fund.

For further questions, please contact:

IK Investment Partners
Nils Pohlmann, Partner
Phone: +49 40 369 88 50

Mikaela Hedborg, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

Bahr Modultechnik
www.bahr-modultechnik.de
Phone: +49 5722 99 33 0

About Bahr Modultechnik GmbH
Bahr is an expert partner for sophisticated and practice-oriented customized linear technology, which is sold in more than 20 countries throughout the world. Depending on the individual requirements, Bahr’s systems are provided with spindle drive, toothed rack drive, belt drive or a different drive concept. Bahr is certified according to the standards of DIN EN 9001 and 14001 – for first-in-class quality. For more information, visit www.bahr-modultechnik.de

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 115 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

March 26, 2018 Amsterdam – On 22 March, Gilde Buy Out Partners joined Esdec as a new shareholder. Esdec develops, produces and delivers professional mounting systems for solar panels. The fast growth and the innovative characteristics of Esdec, have fuelled Gilde’s ambition to play an important role in supporting the existing management team in realizing the company’s growth ambitions. With this transaction the shares of investors Holland Venture and Dolfin Capital will be acquired by Gilde.

With its innovative mounting systems, Esdec is playing a key role in addressing the growing demand for solar energy. In 2017 the production of solar energy grew with an impressive 40%. The focus on innovation did not go unnoticed as Esdec won the Solar Innovation Award 2017 and it was nominated as FD Gazellen 2017.

Innovation

Investing in innovation is key for Esdec. “The continuous quest for smarter, better and faster solutions for our customers is our main driver, every single day.”, according to Stijn Vos, CEO and shareholder of Esdec. To maintain the position as market leader, the innovation engine continues to run at full speed. Esdec again introduced a new range of products this month, has strengthened its management team with a director Technology and Innovation, has extended its R&D team from 2 FTE to 10 FTE and has started construction of its 1000m2 innovation centre. Overall, the number of employees has tripled in two years. Vos added to this: “Together with Holland Venture and Dolfin Capital we have strengthened our market position significantly since 2015. I am grateful for their contribution which has brought Esdec to the point where it is ready for the next growth phase with Gilde.”

“Esdec stands out due to its strong product portfolio and fast growth. We are impressed with what the management team has achieved in recent years, together with Dolfin and Holland Venture, as well as by innovations currently being developed. We see numerous possibilities to further accelerate growth in this next phase for the company, together with the management, in both the EU and in the USA, and both organically as well as through acquisitions.”, according to Maurits Boomsma, Partner at Gilde Buy Out Partners.

International sales

In a rapidly growing market which initially was driven by subsidies and now has really opened up due to a decrease in solar energy costs, Esdec focuses on key markets: Benelux, France, the Nordics and USA. In the EU and USA, it has recently hired multiple international sales managers. “Under the leadership of Stijn Vos, Esdec has accomplished a lot. This is apparent in the significant expansion of the (R&D) team, the international expansion that was realized and the move to a new facility, four times the size as the old one. The company is now ready to seize the enormous growth potential in the market. We wish the new shareholder Gilde the best of luck with this next step!” says Hubert Verbeek, Managing Partner Holland Venture. Read more at: http://gilde.com/news/2018/innovation-efforts-pay-off-gilde-buy-out-partners-invests-in-esdec

On March 8th Anders Invest completed her tenth investment by acquiring a 50% stake in Mosman Stainless Steel in Haaksbergen (NL). The shares in this rapidly growing company were bought from the two directors and shareholders Rob Brinkert and Cees van Noort. Rob and Cees will continue to be associated with the company for the long term as directors.  

Mosman is active worldwide in the production and sales of heat exchangers for bulk solids. The heat exchangers are used in a wide range of production processes, in particular for the cooling and drying of plastic, sugar and fertilizers. The company designs and produces the heat exchangers themselves and developed a laser welding machine to weld the cooling plates, so-called pillow-plates. Mosman has a broad, international customer portfolio and counts large multinationals amongst its clientele. Hereby a link to the corporate video and the website of the company. In addition to the heat exchangers, Mosman has been a relevant regional player in the field of stainless steel metal processing since 1879. 

The company has achieved a solid market position over the past five years and sees sufficient opportunities to further expand this position. Due to the increasing attention for energy consumption of production processes and the desired high quality and consistency of the output, heat exchangers are being used in an increasing number of production processes. Anders Invest has a lot of admiration for the performances that are delivered and looks forward to the cooperation.

Graphite Capital supports Beck & Pollitzer’s acquisition of Clarkson Industrial Inc. Graphite Capital’s portfolio company Beck & Pollitzer has acquired Clarkson Industrial Inc, a major provider of installation services based in South Carolina. The combination of Beck & Pollitzer’s existing US operation and Clarkson creates a strong platform for further growth in the group’s machinery installation and relocation services throughout the North American market.