Nordic Capital acquires iLoq from Sievi Capital for €190m

The company's founder and the management team will reinvest in the business alongside Nordic Capital.

The GP invested via its Nordic Capital Fund IX, which held a final close on €4.3bn in May 2018. The vehicle focuses on five sectors: healthcare, financial services, technology and payments, consumer retail, and industrial goods and services.

Nordic Capital intends to support iLoq's organic growth, consolidate its market position and boost its international expansion.

Sievi sold its entire 21.3% stake in the company to Nordic Capital for around €40m, ending a 10-year holding period. Under Sievi's ownership, the company grew its business and expanded internationally, broadened its product offering and increased its revenues. The GP made a 10x return on the investment.

Company
Established in 2003 and based in Oulu, iLoq develops and manufactures electronic and digital locking systems and products, including battery-free lock cylinders and keys. The company employs 150 staff and generated EBITDA of €9.5m from revenues of €50.2m in 2018.

People
iLoq – Heikki Hiltunen (CEO).
Nordic Capital – Robert Furuhjelm (partner, head of Finland).
Sievi Capital – Päivi Marttila (CEO).

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• Buyouts
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