IK-backed SVT buys AIK Flammadur

AIK was acquired with SVT's own financials as well as an acquisition line provided by SEB.

SVT acquired the company because of its complementary product portfolio and network of distributors, it said in a statement. It also hopes to benefit from AIK's existing customer network in the shipping industry.

Previous funding
IK acquired SVT from the company's management and backers SüdBG and Capiton in June 2015. The secondary buyout was the first investment made with its IK Small Cap I Fund and comes seven years after Capiton and SüdBG invested in the Seevetal-based company.

The debt package was provided by SEB Frankfurt, according to sources close to the deal. When announcing the SBO, IK said it plans to consolidate SVT's market position and support German and international growth by expanding the group's product portfolio and service offering. The acquisition of AIK is the first step in that direction.

Company
Founded in 1890 and based in Kassel, AIK develops and manufactures fire prevention components. Its products are used in public buildings, industry, energy supply, aircraft, oil platforms, power plants, high speed trains and football stadiums. AIK originated from the AEG Group, but has been in private ownership since 1993. It generated a turnover of €6m in 2015. 

Founded in 1969 in Seevetal, SVT produces passive fire protection and restoration management products. The business has a network of 22 branches in Germany and a local presence in Poland and Russia. It employs 322 people and generated €87m in sales in 2015.

People
IK Investment Partners – Anders Petersson (partner).
SVT Group – Steffen Gerdau (CEO).
AIK Flammadur Brandschutz – Jörg Hansen (CEO).

Advisers
Acquirer – Renzenbrink & Partners (legal); Ebner & Stolz (financial due diligence, tax).

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• Topics
• Portfolio management
• DACH
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• Germany
• IK Investment Partners