
Polaris acquires majority stake in Sealing System
Scandinavian mid-market GP Polaris has acquired a majority stake in Sealing System, a Danish supplier and production of packaging and palletizing lines, according to a statement.
The parties have agreed not to disclose the purchase price, according the same statement.
As part of the deal, Ib Nykjær, a board professional, will join the board of directors as chair. Nykjær was previously CEO of SFK Leblanc, a Danish meat processing equipment specialist, and Tetra Pak Hoyer Equipment, a processing equipment brand for ice cream handling.
The company has generated average annual revenue growth of 25% since 2019 and reported revenue of more than DKK 200m (EUR 26.8m) in 2022 with EBITDA of DKK 20m (EUR 2.7m), it said.
The market for Sealing System's solutions is expected to grow in the coming years, particularly in Denmark and a number of other European markets where more companies are focused on establishing automated production to simplify their supply chain, increase efficiency and mitigate higher salary costs, it said.
The GP is currently deploying equity via Polaris V, which raised EUR 690m early last year, as reported. The strategy seeks Danish and Swedish mid-market companies, focusing on consumer, industrials, services, healthcare, technology and financial services.
Company
Based in Grindsted, Denmark, Sealing System was established in 1998 and offers solutions to automate manufacturing lines. The company has around 155 employees at its facilities in Denmark, Norway and Belgium.
People
Sealing System – Rolf Tange (CEO and co-founder); Kjeld Østergaard Jensen (sales director and co-founder); Ib Nykjær (chairman).
Polaris – Allan Bach Pedersen (partner).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Czech Republic-headquartered family office is targeting DACH and CEE region deals
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds