Capidea acquires 55% stake in Budweg Caliper

Capidea acquired a majority stake of 55% in the firm, which has a value in the vicinity of DKK 500m, according to a source familiar with the situation.

The deal marks the first investment from the private equity firm's latest investment vehicle, Capidea Kapital III, which held a first close on DKK 750m earlier in January. 

Following the deal, family co-owners Jan Uwe Larsen and Thomas Egon Larsen will continue as managing directors and significant shareholders.

With the fresh capital, Budweg intends to invest in its growth strategy amid succession changes in the family business.

PwC Corporate Finance acted as financial adviser to the sellers. 

Company
Founded in 1978 by Henning Larsen and headquartered in Odense, Budweg remanufactures used brake calipers as well as developing, producing, remanufacturing and selling brake calipers to the independent aftermarket.

The firm's customers are primarily large spare parts distributors, as well as suppliers of brake systems. Its largest markets are Scandinavia, Germany and the UK, where it offers a product range of 4,000 calipers.

In addition to its Denmark office, the firm has facilities in South Korea and a joint venture in China. It employs a staff of 170.

People
Capidea – Henrik Normann Karlsen (associate partner)
Budweg Caliper – Thomas Larsen (CEO).

Advisers
Vendor – PwC (corporate finance).

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• Topics
• Buyouts
• Nordics
• Industrials
• Denmark
• Capidea Management