
Consilium sponsor Nordic Capital to distribute IMs next month
Nordic Capital is expected to distribute information memoranda (IMs) for the sale of Swedish safety and security systems company Consilium Safety Group in September, two sources familiar with the situation said.
The IMs are expected to be sent out in the second week of September, one of the sources said, adding that the sponsor had shared teasers with potential buyers in May.
The process had originally been planned to mainly target strategic buyers, but Nordic Capital has decided to go wider and invite sponsors too, one of the sources said. Infrastructure investors are also showing interest in the asset, the other source said.
Consilium, which produces safety technologies for the marine, oil and gas, transport and building industries, is expected to attract good interest given its strong financial performance and the resilient nature of the sector, the sources and two bankers tracking the situation said.
The company’s FY23 revenue is forecast at around SEK 2.3bn (EUR 205.3m), with around SEK 600m EBITDA, as reported by this news service in March. It turned over EUR 150m in FY21, according to the company’s website.
Citi is advising Nordic Capital on the potential sale, as reported.
Nordic Capital acquired then-listed Consilium’s Marine & Safety business in December 2019 for an enterprise value of SEK 3bn (EUR 287m). As part of the deal, the sponsor also acquired the Consilium brand, as per the announcement. At that time, the business generated SEK 1.5bn annual revenues with SEK 240m EBITDA (LTM as per September 2019) and had approximately 850 employees.
Founded in 1912, Consilium offers products including fire- and gas-detection systems, and solutions for safety management and emission monitoring. It also offers digital services that help monitor safety systems in place. It has more than 900 employees across 27 offices and has representation in 55 countries, according to its website.
Nordic Capital and Consilium declined to comment.
Latest News
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
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
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
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