Altor acquires FH Gruppen

Altor bought the stake from founder Torbjørn Kaarud and a group of minority shareholders. The private equity firm intends to work alongside the company's management team to continue developing FH Gruppen in the holiday homes market in Norway.

According to Norwegian business daily Dagens Naeringsliv, Altor paid NOK 1bn for the company, with the founder and his family to receive NOK 800m.

Altor is currently investing from its latest vehicle, Altor Fund IV, which held a final close on its hard-cap of €2bn in July 2014. The Stockholm-based vehicle, which has a lifespan of 15 years, focuses on mid-market companies in the Nordic region.

Company
Founded in 2006 and headquartered in Oslo, FH Gruppen manufactures holiday homes and cabins. It completed 600 cabins last year. The group includes subsidiaries Familiehytta, Telemarkhytter, Nordlyshytter, Familiehus, FH Entrepenør, FH Utvikling and FH Produksjon.

According to local media reports, FH reported a turnover of NOK 912m last year.

People
Altor Equity Partners – Maria Tallaksen (director).
FH Gruppen – Torbjørn Kaarud (CEO).

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