Alder sells Powerbox in SEK 228m trade deal

Alder sold the portfolio company after a five-year holding period. It held a 63.29% majority stake in Powerbox, along with Stiftelsen Industrifonden, which owned a 22.68% stake.

Cosel will acquire a 98.14% stake for SEK 228m, the company said in a statement.

Previous funding
Alder invested in Sweden-based Powerbox in August 2013. As a new majority owner, the GP acquired 60% of the company via its Alder Fund I. Existing backer Industrifonden, along with current and previous employees of the company, remained minority shareholders in Powerbox.

Company
Founded in 1974 and headquartered in Gnesta, Sweden, Powerbox develops, manufactures and markets power supplies in Europe, the US, Asia and the Pacific. Powerbox operates via two channels: Powerbox, which manufactures customised and standard power converters; and Craftec, a distributor of power converters.

The group employs a staff of 120 and reported a turnover of €40m last year. It operates design centres in Sweden, Germany and the Netherlands, as well as offices in other European countries, the US, China and Australia.

People
Alder – Henrik Flygar (partner).
Powerbox International – Martin Sjöstrand (CEO).
Cosel – Masato Tanikawa (CEO).

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• Topics
• Exits
• Nordics
• Industrials
• Sweden
• Trade sale