• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Buyouts

EQT sells AutoStore to THL

  • Katharine Hidalgo
  • Katharine Hidalgo
  • 20 June 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

EQT Partners has agreed to sell robotics and software provider AutoStore to Thomas H Lee Partners (THL).

The deal values the company at €1.6bn, according to a report by Unquote sister publication Mergermarket.

Members of the company's management team will retain a minority stake in the company and EQT will also retain a 10% holding. THL will take a seat on the board in addition to EQT, which will also continue to have a representative on the board.

AutoStore

  • DEAL:

    SBO

  • VALUE:

    €1.6bn

  • LOCATION:

    Nedre Vats

  • SECTOR:

    Industrial machinery

  • FOUNDED:

    1996

  • VENDOR:

    EQT Partners

  • RETURNS:

    >3x (est)

During EQT's holding period, the company expanded internationally, opening US headquarters, and launched a new line of robotics called Black Line. The company has quadrupled revenues and doubled its employee base, according to a statement.

AutoStore was an EQT VII portfolio company, which was 88% deployed as of December 2018. The fund has already exited its investments in PIAB and partially exited from Bilfinger Real Estate Services.

AutoStore is expected to generate revenues of NOK 2bn in 2019.

Previous funding
EQT acquired a majority stake in AutoStore in 2016 using its €6.75bn EQT VII vehicle. The deal valued the company at around €500m, representing an EBITDA multiple of 18.8x, according to Unquote Data. The vendors were minority shareholders and Jakob Hatteland Holding, which held 67% of shares and retained 9% following the deal.

Company
Headquartered in Nedre Vats, Norway, AutoStore is a robotics and software company providing automation technology to warehouses and distribution facilities in more than 28 countries. It counts Puma, Best-Buy and Boozt as clients. Founded in 1996, the company operates offices in the US, the UK, Germany, Poland and France.

People
EQT Partners – Anders Misund (partner).
Thomas H Lee Partners – Jim Carlisle (managing director).
AutoStore – Karl Johan Lier (CEO, president).

Advisers
Equity – Morgan Stanley (M&A); Kirkland & Ellis (legal); PwC (financial due diligence, tax); Marsh (insurance due diligence).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyouts
  • Nordics
  • Industrials
  • EQT
  • US
  • Norway
  • Secondary buyout
  • Morgan Stanley
  • PwC
  • Kirkland & Ellis

More on Buyouts

Clinical trials and biotechnology
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023
Ice cream
Exponent divests ‘significant' stake in Meadow to Canadian investor

Since 2018, GP has diversified food ingredients company's focus beyond commodity dairy

  • Exits
  • 22 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013