EQT sells minority stake in Anticimex to GIC

With GIC's support, Anticimex aims to further accelerate its growth and boost its expansion in Asia.

GIC will hold the same mix of instruments as EQT, which will remain as controlling owner and continue to support the company's growth.

EQT acquired Anticimex from Ratos via its €4.75bn EQT VI fund in 2012, in a deal valued at SEK 2.9bn. A consortium of banks, consisting of SEB, Nordea, and Swedbank, provided senior debt at an approximate 50% leverage ratio.

Under the GP's ownership, the company has grown from a Nordic services conglomerate into a global player in the pest control market, quadrupled its revenues and increased its operating earnings six-fold. In addition, EQT has backed Anticimex's buy-and-build strategy by completing 200 add-on acquisitions worldwide.

Previous funding
Anticimex was first taken private in December 1991 by Nordic Capital, WASA Sweden, and Länsförsäkringar Sweden. The deal, which was valued at SEK 262m, was supported by a senior debt package from Svenska Handelsbanken. In 1994, the company was divested to the then NYSE-listed ServiceMaster in a trade sale.

Nordic Capital bought back Anticimex in 2001 for around $100m. 

In 2005, Ratos acquired Anticimex in a secondary buyout valued at SEK 1.65bn. It invested around SEK 600-750m in equity, securing a SEK 1bn debt package.

Company
Founded in 1934 and headquartered in Stockholm, Anticimex is a specialist in pest control. The company recently launched its digital and environmentally friendly pest control monitoring system, Anticimex Smart.

Anticimex operates 154 branches in 18 countries across Europe, Asia-Pacific and the US, employs 6,000 staff and generated EBITA of around €94m from revenues of €610m in 2018.

People
EQT – Per Franzén (partner).
Anticimex – Jarl Dahlfors (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Expansion
• Nordics
• Support services
• EQT
• Sweden
• GIC
• Secondary purchase