FSN in SEK 347m Troax exit

The sale comes seven months after the GP floated Troax on the Stockholm stock exchange, where the company achieved a market cap of SEK 1.535bn.

FSN's share sale sees it divest its final 18% stake in the company at a price of SEK 96 per share, up SEK 30 per share on the listing price of SEK 66.

Previous funding
The exit brings to a close FSN's ownership of Troax, which began following an SBO from Swedish GP Accent Equity in December 2012, made through the GP's €375m FSN Capital III fund.

Accent had acquired Troax from the Segulah-owned Gunnebo industrial group in November 2010. In October this year, Accent again carved out a Gunnebo subsidiary when it bought Nordic Traction.

Company
Headquartered in Hillerstorp, Troax is a metal mesh panel producer for the robotics, material handling, logistics and property protection sectors.

Founded in 1955, the group generated revenues of €90m in 2014, with an EBITDA of €18m, and employs 400 people.

People
Peter Möller is a partner at FSN.

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• FSN Capital
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