EQT buys Dellner Couplers

The GP drew capital for the transaction from its latest flagship buyout fund EQT VIII, which held a final close on €10.75bn. The majority of Dellner Couplers was owned by the founder’s nephew Gunnar Dellner, according to Swedish publication Dagens Industri.

EQT said it will invest in further R&D and innovation and leverage its industrial network to support further growth. It further highlighted Dellner Coupler’s positive societal impact by developing products that promote safe and sustainable public transport.

The company generates EBITDA of around SEK 500m and was expected achieve a valuation of more than SEK 7bn, according to Dagens Industri. Nordic Capital, Triton Partners, Cinven, PAI Partners, KKR and CVC Capital Partners were all listed as potentially interested parties by the publication.

Company
Dellner Couplers was founded in 1941 and is headquartered in Vika, Sweden. It produces components for passenger rail rolling stock including couplers, gangways and other products. It employs 950 people and generated sales of SEK 1.9bn in 2018.

People
EQT Partners – Carl Johan Renström (partner).
Dellner Couplers – David Pagels (CEO).

Advisers
Vendor – Carnegie (corporate finance).

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• Topics
• Buyouts
• Nordics
• Industrials
• EQT
• Sweden