Industri Kapital announces the successful closing of the Industri Kapital 2007 Fund with final commitments of EUR 1,675,000,000
Industri Kapital (IK), a leading mid-market private equity firm focused on investing in the Nordic region and in Continental Europe, is pleased to announce that it has closed its sixth fund, the Industri Kapital 2007 Fund, with total commitments of EUR 1.675 billion, more than double the previous fund, the Industri Kapital 2004 Fund.
The Industri Kapital 2007 Fund received strong support from both existing and new investors. The fund’s investors include endowments and pension funds, insurance companies and funds-of-funds located in UK, Continental Europe, Scandinavia and North America. These include Pantheon Ventures, Standard Life, HarbourVest, bcIMC, Skandia, SVG, Partners Group, Länsförsäkringar, Varma, Metlife, NYSTRS, Tapiola and AIG.
The Industri Kapital 2007 Fund will continue to execute the same industrial development strategy successfully deployed in prior IK funds. With a strong operational focus and approach of adding value to portfolio companies, the fund will make majority investments in high-quality, market-leading, medium-sized companies in growing and mature industries in the Nordic region and Continental Europe. The Industri Kapital 2007 Fund will target companies where IK, in partnership with management, has identified specific growth opportunities and can use its longstanding industrial knowledge, experience and network, to accelerate growth and create value both organically and through acquisitions.
IK is focused on investments in the Benelux, Denmark, Finland, France, Germany, Norway and Sweden. Over the last 12 months IK has made 4 investments and 10 realisations generating approximately EUR 1.8 billion for investors.
IK has delivered several highly successful exits during the fundraising including:
• DYWIDAG-Systems International (DSI), the global market leader in the development, manufacture and supply of post-tensioning and geotechnical systems to the construction and mining industries, based in Germany.
• CEVA Santé Animale, the 10th largest veterinary laboratory worldwide, based in France.
• Prevesta, Sweden’s leading producer of prefabricated houses with the brands Myresjöhus and SmålandsVillan.
IK has also made a number of investments during the fundraising including:
• Magotteaux, a leading global supplier of grinding media and castings used in the cement, mining, aggregate and dredging industries as well as by utility companies based in Belgium.
• Moventas, a leading independent manufacturer of industrial and wind turbine gears as well as provider of gear maintenance and service based in Finland.
“We are very pleased with the high level of support we have received from our existing investors who have chosen to continue to invest with us, making it possible to allocate the Industri Kapital 2007 Fund in just 3 months. We are also grateful for the vote of confidence shown by the new investors who have joined our fund. We will remain focused on our strategy and firmly believe that this strategy will allow us to continue delivering strong returns to our investors. With the new fund, IK is well equipped to continue to play a leading role in the European private equity market”, says Björn Savén, Chairman and Chief Executive, IK.
UBS acted as global placing agent and SJ Berwin was legal counsel to the Industri Kapital 2007 Fund.
This press release is not an offer of securities for sale in the United States or any other jurisdiction and interests in the Fund may not be offered or sold in the United States or any other jurisdictions save in accordance with applicable law.
Mads Ryum Larsen, Partner
Phone: +44 207 304 4306
Charlotte Laveson, Communication Manager
Phone: + 46 8 678 95 51