Nord Kapital sells Rapp to MacGregor for €16m

According to Rapp Marine, the enterprise value of the acquisition was approximately €16m.

The deal marks the end of Nord Kapital’s five-year ownership, during which it developed the firm’s global distribution of winches and related equipment for fishing and research vessels.

A number of Rapp Marine’s projects were developed and delivered in cooperation with MacGregor, making the acquisition a natural step for the firm, according to Nord Kapital.

With the additional capital, the firm intends to expand its product offering in MacGregor’s fishing segment.

Previous funding
In November 2012, Nord Kapital acquired an 80% stake in Rapp Marine via its Nord II Fund for an undisclosed amount, according to unquote" data.

Company
Established in 1907, Rapp Marine designs, develops and markets machinery and equipment for the marine and offshore oil industries in Norway and internationally.

Headquartered in Bodø, Norway, the firm employs a staff of 120 in its main locations in Norway, the US and the UK.

It expects a turnover of €40m in 2017, of which approximately 30% is related to its services. According to Rapp Marine, its EBIT margin is on the same level as MacGregor's current profitability.

People
Nord Kapitalforvaltning – Bjørn Hesthamar (managing partner).
Rapp Marine – Terje Arnesen (CEO).
MacGregor – Michel van Roozendaal (president).

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