Accent sells Nordic Traction Group

The sale ends a three-year holding period for Accent, which acquired the business with its SEK 3.8bn fund, Accent Equity 2012.

The management team led by Tero Järvinen will reinvest alongside the new owners.

Under Accent's ownership, Nordic Traction's revenues grew from €19.2m to €25m and the number of employees was increased from 85 to 116.

AB Max Sievert is a private investment company that looks for long-term investments in Nordic companies.

Previous funding
Accent carved out Nordic Traction from Gunnebo Industrier, an industrial group backed by PE firm Segulah. For Segulah, the carve-out represented a partial exit for its Segulah III and IV vehicles, which jointly acquired Gunnebo Industrier in a 2008 take-private valued at SEK 1.62bn.

Company
Nordic Traction is a maker of traction chains and tracks based in Loimaa, Finland. It was founded in 1886, employs 116 people and has additional manufacturing facilities in Scotland. The company's products are mainly aimed at forestry and construction machines, tractors and transport vehicles.

People
Accent Equity Partners – Daniel Winberg (partner).
Nordic Traction Group – Tero Järvinen (CEO).

Advisers
Equity – Stephens Europe (M&A); Mannheimer Swartling (legal); KPMG (financial due diligence).

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• Topics
• Exits
• Industrials
• Nordics
• Finland
• Accent Equity Partners