FSN Capital V has, together with management, acquired a majority stake in the Rameder Group, the European market leader in the distribution of towbars and related products. This partnership marks FSN Capital Funds’ first platform investment in Germany.

Founded in 1996, Rameder is today Europe’s leading distributor of towbars, bike carriers and roof racks. Based in the German town of Leutenberg and with offices in Ingolstadt (DE), Lille (FR) and Prague (CZ), the 200 employees at Rameder manage online shops in over ten countries (including kupplung.de in Germany), selling around 300,000 towbars each year throughout Europe. In addition, the Company operates 16 assembly points making them one of the largest professional towbar installation service providers in Germany. In recent years, Rameder has succeeded in making strategically important acquisitions both in Germany and abroad, with the acquisitions of Bertelshofer (DE) in 2012, France Attelage (FR) in 2017 and ELSA (CZ) in 2018. Combined with robust organic growth, these acquisitions have resulted in strong topline development. Today Rameder generates approximately €70m in revenue.

Focusing on organic and acquisition-driven growth
After two decades of successfully investing in Scandinavia, in early 2018 FSN Capital Partners, acting as investment adviser to the FSN Capital Funds, opened an office in Munich and hired a team of professionals to advise the FSN Capital Funds on investments in the DACH region. The team, led by partners Robin Mürer, Justin Kent and Patrice Jabet, focuses on growth-oriented, mid-sized companies that have a strong value proposition and a clear market-leading position, where the FSN Funds see a clear potential to support management teams to achieve their growth strategies by providing both capital and know-how. The FSN team will seek to support FSN Capital V and Rameder’s management to achieve its strategic goals to boost turnover further in the core markets of Germany and Austria, expand its assembly network, and foster greater international growth by way of acquisitions and strategic partnerships.

Expanding market leadership
“Rameder is an exceptionally well positioned company with a clear value proposition for its customers. We look forward to supporting the Rameder team to further solidify its leadership position in its core markets, while continuing to expand internationally in a sustainable and responsible manner” says Justin Kent, partner at FSN Capital Partners in Munich.

“We are delighted to have found the ideal partner in FSN for the next stage of our development and we look forward to working with the FSN team to continue Rameder’s success story. FSN Capital Funds’ outstanding track record partnering with growing companies and their managers, combined with its strong focus on values, was a key aspect of our decision to partner with FSN”, say Dirk Schöler and Stefan Bertelshofer, Co-CEOs of Rameder Group.

Six successful investments in 2018
2018 has been a highly successful year for the FSN Capital Funds. Thus far, FSN Capital Funds have acquired the Norwegian road safety and road infrastructure solutions provider Saferoad the Norwegian equipment supplier for the aquaculture and fishery sectors Mørenot and the Swedish retailer of limited-edition trainers Sneakersnstuff. In addition, FSN Capital Funds have assumed a controlling interest in a new IT outsourcing business group that was created by the joint acquisitions of Swedish companies OITP, Zetup and Dicom. Key add-on acquisitions have also been successfully completed for the portfolio companies Holmbergs, which acquired the Austrian company Fasching Safety Belts, and Fitness World, which acquired the Swiss fitness chain basefit.

The team at FSN Capital Partners responsible for advising on the transaction is composed of Justin Kent, Eskil Koffeld and Clemens Plainer. FSN Capital V was also advised by Hengeler Mueller (legal), Bain (commercial), Alvarez & Marsal (financial), PwC (tax & ESG), eccelerate (e-commerce), JLT (insurance), capitalmind (debt advisory) and mcf (M&A).

The transaction is still subject to regulatory approval with closing of the transaction scheduled for January. The details of the transaction will not be disclosed.

Munich, November 27, 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has completed the acquisition of VAG, the Mannheim-based manufacturer of water and waste water valves from U.S.-based Rexnord.

As a globally active company, VAG is one of the leading suppliers of valves for water treatment and distribution, waste water management, dams, power stations and the energy industry. With approx. 1,200 employees, VAG generated sales of almost EUR 200 million in its 2017/18 financial year. VAG is known and appreciated throughout the world for its market-leading know-how in product development and bears the quality seal “Engineering made in Germany.” The company has six production facilities in Germany, the Czech Republic, China, India, South Africa and the United States, as well as 14 own sales offices that sell VAG’s products and services in more than 100 countries of the world. VAG operates both in the global project business and in the production and distribution of standard applications.

Zevenaar – Funds advised by Gilde Buy Out Partners (“Gilde”) today announced the acquisition of De Kinkelder Beheer B.V. (‘Kinkelder’), together with management. The terms of the agreement have not been disclosed.   Kinkelder, which has been a family business since its foundation in 1945, specialises in the production, development and sale of high-quality industrial circular saw blades for the steel industry and is the global leader in this market.

Kinkelder produces blades in 3 locations in Europe and the US, from which it exports to over 70 countries. The company has an unmatched reputation for high quality & service and a continuous focus on innovation. Under the ownership of the De Kinkelder family, the company has displayed a strong growth track record, both organically and through focused acquisitions. Kinkelder’s management has found a valuable partner in Gilde, with a wealth of experience in successfully supporting mid-market companies during their next growth phase. Jointly, Gilde and Kinkelder management are eager to continue to build on the success of the company and further grow its business. Read more at: http://gilde.com/news/2018/gilde-buy-out-partners-and-management-acquire-kinkelder

Investment AB Latour (publ) has signed an agreement to divest its entire shareholding in Diamorph, a total of 14,923,571 shares which corresponds to 28.2 per cent of the capital. The transaction is carried out in connection with the UK-based Epiris Fund II’s acquisition of all the shares in Diamorph. Epiris has a long history of successful investments and we consider Epiris to be an owner that secures the future development of Diamorph.

Latour has been a shareholder in Diamorph since 2012. The divestment is a consequence of a decision supported by more than 90 per cent of the company’s shareholders. The purchase price for Latour’s share of the transaction amounts to SEK 290 m. Latour’s total in investment in Diamorph is SEK 164 m. The transaction will be completed in January 2019, subject to certain conditions that has to be fulfilled before that.

Göteborg, 20 November, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Anders Mörck, CFO Latour, +46 706 46 52 11

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 ten substantial holdings with a market value of about SEK 51 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.

Eurazeo PME, Eurazeo’s division specializing in medium-sized companies, has received a firm offer to
purchase all of its interest in Vignal Lighting Group from EMZ Partners. Thus, Eurazeo PME has entered into
exclusive negotiations with the Private Equity firm until January 2019. The divestment project will soon be
subject to consultation with the relevant staff representative institutions.
Eurazeo PME acquired a majority stake in Vignal Lighting Group, global leader in lighting for on and off-road
specialty vehicles, in February 2014, working together with Jean-Louis Coutin and the company’s
management team to the transformation of the Group. The transaction, should it occur, would allow
Eurazeo PME to make €119M proceeds from the sale, including the 2016 repayment of the bonds for €27M,
representing a multiple of 2.8x its initial investment.

With Eurazeo PME as its majority shareholder, Vignal has conducted its significant transformation from an
European player in signaling for trucks and trailers to the global leader in lighting for on-road and off-road
specialty vehicles. The acquisition and integration of ABL Lights (2014) and CEA (2016) have supported the
group to offer a comprehensive and complementary product ranges on diversified end-markets (trucks,
construction, mining, handling, agriculture) and geographies (Europe, Americas, Asia) both in OEM and
aftermarket segments. Since 2014, the group has sped up its international expansion, benefitting from
significant cross-selling between product ranges and set-up of a direct presence in the US and in Asia.
Supported by Eurazeo PME, the group has invested in its industrialization across the three continents, with
in particular a new 11,500 sqm industrial and R&D center in Corbas and the opening of a new plant in China.
The group’s turnover more than doubled over the period from €47M in 2013 to €106M in 2017.
Pierre Meignen, Managing Director and Member of Eurazeo PME’s Management Board, declared: “With
the management of Vignal Lighting Group, we have had, since our acquisition, great ambitions to transform
the company in France and internationally. Thanks to the quality of its managers and employees, Vignal
Lighting Group fully respects its strategic roadmap by combining organic growth with external growth,
allowing for a significant expansion of its product range as well as expansion into new markets.”

About Vignal Lighting Group
Vignal Lighting Group is specialized in designing, manufacturing and marketing of lighting and signaling products and systems for industrial and commercial vehicles. It is the result of the combination in 2014 of Vignal Systems and ABL Lights. Both companies gained over time an international recognition in their respective fields thanks to innovative and high-quality products. In 2016, Vignal Lighting Group extends once again its product ranges with the acquisition of the company CEA SA based in Rancate, Switzerland, specialized in beacons and safety products for special vehicles especially in the agricultural field. Vignal Lighting Group also has production sites in the United States and China. With a staff of c. 500 persons, Vignal Lighting Group generated in 2017 a turnover of higher than €106M.
The R&D centers are located in France in the industrial areas of Lyon and Caen and in Rancate, Switzerland.

About Eurazeo PME
A subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs
with a value of under €250 million. As a long-term professional shareholder, it provides its investments with all the
financial, human and organizational resources necessary for long-term change, and supports those companies in its
portfolio in implementing sustainable and therefore responsible growth. This commitment is formalized and deployed through a CSR (Corporate Social Responsibility) policy.

Eurazeo PME achieved a consolidated turnover of €1.1 billion in 2017 and supports the development of the following
companies: 2RH, Dessange International, Léon de Bruxelles, Péters Surgical, Vignal Lighting Group, Redspher, the MK
Direct Group, Orolia, Smile, In’Tech Medical and Vitaprotech. These companies are solidly established within their
market and driven by experienced management teams.