Polaris acquires Falck Safety Services

Polaris is taking over all the safety services from the parent company, with the divestment of Falck Safety Services in line with Falck's overall strategy to focus on its core business.

The transaction marks the eighth investment from the current Polaris flagship buyout fund, the DKK 3.3bn vehicle Polaris Private Equity IV. The fund is now close to 60% invested, with a further 10% set aside for add-ons, including for Falck Safety Services and other portfolio companies, Unquote understands.

The GP intends to develop Falck Safety Services along a buy-and-build strategy, eyeing growth opportunities in the company's markets.

Torben Harring will continue as CEO of Falck Safety Services under Polaris's ownership.

Previous funding
Nordic Capital and ATP Private Equity Partners made a public tender offer for the shares of Falck in December 2004 for an acquisition price of around DKK 5.3bn. Following completion of the transaction, Nordic Capital and ATP Private Equity Partners intended to de-list Falck from the Copenhagen Stock Exchange. Nordic Capital then owned 88% of the shares in the company and ATP Private Equity Partners held the remaining 12%.

Nordic Capital, ATP Private Equity and Folksam partially exited Falck in December 2010 through the sale of a 36% stake in Falck to The Lundbeck Foundation.

In April 2011, Nordic Capital sold its remaining shares in Falck to Lundbeck Foundation, Kirkbi, PFA and the company's executive management board, ending IPO speculations.

ATP Private Equity provided a round of growth funding to Falck in July 2011. The investor exited its stake from the ATP I Fund and provided funding via its ATP IV Fund. 

Company
Founded in in 2006 and headquartered in Copenhagen, Falck Safety Services is a provider of specialist safety training for the offshore, maritime and renewables industries. It operates 30 training centres in 21 countries. In its latest financial statement, Falck Safety Services reported a turnover of DKK 778m and EBITDA of DKK 71m.

The business is part of larger company Falck, established in 1906. Falck provides emergency, healthcare and safety services in Norway, Poland, Slovakia, Sweden, Denmark and Uruguay. The company is based in Copenhagen, Denmark.

People
Polaris – Henrik Bonnerup (partner, CFO).
Falck – Jakob Riis (president, CEO).
Falck Safety Services – Torben Harring (CEO).

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• Topics
• Buyouts
• Nordics
• Support services
• Denmark
• Polaris Private Equity
• Nordic Capital
• ATP private Equity Partners