Segulah sells Gunnebo to KKR-backed Crosby

KKR owns a majority stake in Crosby via its KKR North American Fund XI vehicle.

Segulah has owned an 87% stake in Industrier since carving it out from Gunnebo in 2008. It is invested via both its Segulah III and Segulah IV vehicles.

During Segulah's ownership, it has successfully divested three non-core business units to focus on lifting and related applications, including the sale of the traction chains and tracks manufacturing division to Accent Equity in 2015.

The company generated sales of SEK 998m in 2018 and employs 501 people, according to Segulah's website.

Company
Gunnebo Industrier was founded in 1764 and is headquartered in Gunnebo, Sweden. It makes and sells lifting and rigging hardware and operates manufacturing facilities in Sweden, Norway and the US.

People
Segulah – Sebastian Ehrnrooth (chairman).
Crosby Worldwide – Bob Davies (CEO).
Gunnebo Industier – Fredrik Wiking (CEO).

Advisers
Acquirer – Alantra (corporate finance); Kirkland & Ellis (legal); Vinge (legal).

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• Trade sale