IK sells remaining shares in Actic Group

IK will sell 6,647,078 shares, which equates to a stake of 41.81%. After the sale, the IK 2007 fund will no longer own any shares in the company.

This represents a value of SEK 265.9m, based on the share price of SEK 40 at the time of publication.

Cornerstone investor Athanase Industrial Partner will increase its holding in Actic from around 7.9% to 15.4%.

SEB acted as sole bookrunner in the transaction.

The IK 2007 fund held a final close on €1.675bn in October 2007. An IK spokesperson told unquote" the GP currently has holdings in German measuring and processing technology company Schenck Procress, the sale of which to Blackstone was announced earlier in September and is pending completion; and Dutch engineered solutions provider Doedijns International.

Previous funding
Actic first came under private equity ownership in November 2007, when FSN Capital acquired a 70% stake in the business, then called Nautilus, with equity from its FSN Capital II fund.

IK then acquired the company in a July 2012 SBO, tapping its 2007-vintage €1.675bn Industri Kapital 2007 fund.

In April 2017, IK announced the listing of Actic on Nasdaq Stockholm in an IPO valuing the company's free float at SEK 803m.

Athanase, Swedbank Robur and the AP4 agreed to cornerstone the IPO, acquiring shares totalling approximately 31% of the total number of shares placed in the flotation – or 19% of the company's total number of shares.

Company
Headquartered in Solna, Actic is an operator of fitness clubs in Sweden, Norway, Germany, Finland and Austria.

The company was founded in 1981 and currently operates 166 facilities across its five markets. It employs 703 people and had net revenues of SEK 802m in 2016.

People
IK Investment Partners – Kristian Carlsson Kemppinen (partner).
Actic Group – Christer Zaar (CEO).

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