Polaris partially exits Jetpak

The investor group includes long-term institutional investors advised by German hedge fund Paradigm Capital.

Polaris will retain a 5.3% stake in the company following the sale, corresponding to 638,019 shares.

Jetpak was floated on the Nasdaq First North last year. Each share is valued at SEK 45, with the total of Jetpak's 7,222,000 shares valued at SEK 540m.

Previous funding
The GP initially acquired 100% of Jetpak in December 2005 from the company's parent, SAS Group, for SEK 485m, with debt financing from FIH. The firm drew equity from its second fund.

The following year, Accent Equity acquired a third of the shares in Jetpak from Polaris. Accent's stake in the company rose to 50% during its investment period, following add-on acquisitions.

Polaris bought back Accent's 50% stake in Jetpak in March 2012, investing from its 2008-vintage vehicle Polaris Private Equity III.

Polaris partially exited its stake in March 2015, when the company's division JetpakBord was sold to PostNord.

Company
Jetpak is a Stockholm-based courier and door-to-door express delivery company. It has 210 employees and generates revenues of €70m, according to Polaris's website.

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• Topics
• Exits
• Nordics
• Sweden
• Polaris Private Equity