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Press Release


Industri Kapital finalises sale of Kongsberg Automotive to FSN Capital

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The Industri Kapital 1997 Fund has finalised the sale of its 77 per cent interest in Kongsberg Automotive to FSN Capital. BancBoston Capital is retaining its 15 per cent interest, and will accordingly participate in the continued development of the company.

Kongsberg Automotive has a leading position in the global market as a manufacture of niche products for the automotive industry. Leading customers include Cadillac, Citröen, DAF, Jaguar, MAN, Mercedes, Opel, Peugot, Porsche, Renault, Saab, Scania, Toyota, and Volvo. The company is organised in three in three business areas:

* Gearshift systems: focused on passenger cars with automatic transmissions

* Seat comfort: primarily embraces heated seats and head rests

* Truck systems: main emphasis on clutch actuation, gearshift systems and stabilising rods, as well as a number of other components produced to customer specifications.

FSN Capital, a Nordic private equity fund that invests in medium-sized Nordic companies (annual turnover between NOK 500 to 1,500 million). FSN Capital’s equity fund has committed capital of NOK 450 million.

Industri Kapital is a leading European private equity firm with equity capital under management in excess of EUR 3 billion. Since 1989, 43 investments have been made in European companies in various industries. The fund investors are generally large Nordic, European and American institutional investors such as pension funds, investment and insurance companies.

Further information from:
Mads Ryum Larsen, Director, Industri Kapital, tel: +44 20 7304 43 00

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