BDC buys KHG from Procuritas

The agreement, which was signed on 26 September, is subject to clearance by the competition authorities in Norway and Austria. The transaction is expected to close in November 2013.

KGH's management will remain with the business, and will also continue to be shareholders in the new group structure.

Procuritas acquired KHG in 2007 via Procuritas Capital Investors III. During Procuritas holding period, KHG expanded geographically, added new service lines and doubled its revenues to close to SEK 500m.

BDC plans to continue developing the company's pan-European operations in current and new markets, and establish strategic outsourcing relationships.

BDC operates in France, the Nordic region and the UK with offices in Paris, Stockholm and London. It is part of Bridgepoint, which invests in businesses valued between €200m and €1bn across Europe.

Company
Founded in 1963 and based in Gothenburg, Sweden, KHG is a customs services provider with offices at major ports and borders in Europe including Sweden, Norway, Denmark, Belgium, the Netherlands, Germany, Austria. It also partners  with local experts in other European countries. The company employs 600 people.

People
Johan Dahlfors, partner at BDC and responsible for investment activities in the Nordic region, led the deal. Vidar Gundersen is the CEO of KGH. Halvar Jonzon is chairman of KGH's board of directors.

Advisers
Equity - Navigo Partners (Corporate finance).
Vendor - SEB Corporate Finance (Corporate finance).
Company - SEB Corporate Finance (Corporate finance).

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