IK buys SVT Group from SüdBG and Capiton

According to unquote" sources, the secondary buyout was the first investment made with IK's yet-to-be-announced small-cap fund and will see the GP take over seven years after Capiton and SüdBG invested in the Seevetal-based company.

The deal was the result of an auction process.

IK's investment is the GP's second foray into the fire protection industry, having previously owned Minimax Viking for eight years, exiting the business to ICG and Kirkbi for €1.37bn in June 2014.

The GP plans to consolidate SVT's market position and support German and international growth by expanding the group's product portfolio and service offering.

Since its first MBO in 2008, SVT has grown its revenue from €67m to €80m and increased its headcount from 240 to 322.

Debt
A debt package was provided by SEB Frankfurt, according to sources close to the deal.

Previous funding
Capiton acquired SVT in an MBO in August 2008, with debt provided by Deutsche Bank.

Company
SVT is a provider of preventative and passive fire protection services, as well as post-fire damage management.

Headquartered in Germany, the company also has a local presence in Poland and Russia. It employs 322 people and generated €80m in sales in 2014.

People
Partner Anders Petersson led the deal for IK. Christoph Karbenk is a partner at Capiton. Steffen Gerdau is the CEO of SVT.

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