The Industri Kapital 1994 fund and the current management of Cramo AB have reached an agreement in principle with the Dutch company Geveke N.V. and a Dutch institutional investor regarding the sale of all shares in Addum Intressenter AB, the holding company for Cramo.
Following numerous Addum divestitures, Cramo is the last remaining division within Addum. The acquisition was made by Industri Kapital in March 1996 from Securum AB. Cramo is the market leader in Sweden, and one of the major players in Norway, Denmark, Finland and Poland, in business-to-business rental of equipment. In 1999 Cramo reported a turnover of 1,300 million SEK and a profit after financial items of 165 million SEK. The company employs approximately 600 people.
Geveke N.V. is a service industry enterprise that specialises in the purchasing, marketing, distribution, maintenance and rental of a wide range of goods and equipment. Geveke has approximately 3000 employees and had a turnover of approximately 1 billion EUR in 1999.
Industri Kapital is a leading European private equity firm with equity capital under management in excess of 2 billion EUR. Since 1989, 35 investments have been made in European companies in various industries. The fund investors are mainly well-known Nordic, European and North American institutional investors.
For more information please contact:
Björn Savén, CEO, Industri Kapital, +46 8 678 95 00
Gunnar Glifberg, CEO, Cramo AB, + 46 8 623 54 00