Ergon's SVT Group buys Odice

Odice's shareholders will reinvest in the group following the acquisition, according to a statement.

The deal also comprises Odice's Norway-based subsidiary, Securo, which produces fire protection for ventilated facades.

The acquisition is intended to expand SVT's product portfolio, as well as its R&D and technical capabilities.

The combined companies will report revenues of around €200m and will employ 870 employees. The company generated revenues of €114m and EBITDA of €13m in 2017, at the time of its acquisition by Ergon. Odice expanded its presence in Germany in February 2018 via the acquisition of market peer Rolf Kuhn, which was supported by Ergon and senior debt from SEB, Unicredit and BKB.

Ergon acquired SVT via Ergon Capital III in an SBO from IK Investment Partners in November 2017. Ergon invested via Ergon Capital Partners III, which held a final close in 2010 on €775m.

Company
Founded in 1983 and headquartered in Marly, Odice manufactures fire protection products, seals and thermal insulation materials for fire doors. It has 70 employees and serves customers in 40 countries.

People
Odice – Christophe Guidez (CEO).
Securo – Frode Resve (CEO).
SVT Group – Steffen Gerdau (CEO).
Ergon Capital – Wolfgang de Limburg (managing partner); Nils Lüssem (partner).

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• Topics
• Portfolio management
• DACH
• Industrials
• Build-up
• Germany
• France
• Ergon Capital Partners