Segulah exits Øglænd Industrier via trade sale

The transaction saw the GP alongside minority investors wholly sell their stakes in the business to Liechtenstein-based, family-owned corporate Hilti. Øglænd's founder, Gunnstein Austigard, will reinvest in the business and will continue to lead the firm alongside the management team.

Previous funding
The GP acquired a controlling stake in the business for around NOK 1bn from the Norwegian families Hoff, Austigard and Øglænd in March 2014, drawing capital from its Segulah IV fund. As part of the deal, the company's founder retained a significant minority holding in the business through the investment vehicle Futurum Utvikling.

In a statement, the company said its EBITDA increased from NOK 131m in 2014 to NOK 249m in 2016.

Company
Headquartered in Klepp, Norway, Øglænd manufactures support tools, cable trays and ladders used in the oil and gas, infrastructure, ship-building, wind power, water treatment and clean rooms industries. The business was founded in 1977 and currently employs 400 people across its three production plants in Norway, Malaysia and China and its sales subsidiaries located in 14 countries globally.

According to a statement, the business posted a NOK 1.48bn turnover and NOK 349m EBITDA in 2016.

People
Øglænd Industrier – Geir Austigard (CEO).
Segulah – Marcus Planting-Bergloo (partner).

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