The Industri Kapital 1994 Fund has today sold its entire holding of 14,662,848 shares in Nobia AB to a range of Swedish and international institutional investors. The sale corresponds to 25.4 per cent of the total number of shares and votes in Nobia.
Through today’s sale, Industri Kapital exits one of its most successful investments to date. Industri Kapital acquired Nobia from Stora AB in 1996. Since then, the company has developed from being a loss making manufacturer of kitchens, doors and windows into Europe’s leading kitchen company with sales of €1 billion. Operating profit (EBITA) reached €68 million in 2003.
The transformation of Nobia has seen the emergence of a clear market leader in the fragmented European kitchen industry. The company has gone through an industrial change process including a complete turn-around and a successful acquisitions-led expansion. The company now capitalises on its market leading position, and benefits from synergies arising from the combination of original and acquired businesses.
“The Nobia investment is a good example of how buy-outs can work. A clear vision of where the company and the industry were heading formed the basis. A focused strategy was executed by a very strong management supported by a dedicated owner. For Industri Kapital and its investors, this has been an exciting and rewarding journey”, says Björn Savén, Chief Executive of Industri Kapital.
Industri Kapital 1994 Limited,
Acting as agent or general partner to the investors in the Industri Kapital 1994 Fund
3rd Floor, Charles Bisson House,
30-32 New Street, St. Helier,
Jersey JE2 3RA Channel Islands
For further information, please contact:
Anne Holm Rannaleet, Information Director, Industri Kapital, +46-8-678 95 50
Sarah Gestetner, Director, Citigate Dewe Rogerson, +44 207 638 9571
Industri Kapital is a leading European private equity firm with Nordic roots, managing more than 3.5 billion euro in fund commitments from Nordic, European and international institutional investors. Since 1989, Industri Kapital has acquired 47 European companies. The current portfolio encompasses 25 companies with a total turnover exceeding 10 billion euro.
This announcement is not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither Industri Kapital nor Nobia AB intend to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada or Japan. It may be unlawful to distribute this announcement in certain other jurisdictions. The information in this announcement does not constitute an offer of securities for sale in Canada, Japan or Australia.