Norvestor exits Johnson Metall Finland

The GP intends to conclude the sale of the remaining unit of Johnson Metall by the end of the year.

Norvestor bought the company via its €167m Norvestor IV fund from Hexagon Engineering in January 2007. The transaction resulted in capital gains of SEK 80m for Hexagon.

Under Norvestor's ownership, Johnson Metall Finland invested in innovation and technology, boosted its growth and further expanded in the Finnish market.

Company
Founded in 1940, Johnson Metall is a bronze casting foundry that manufactures plain bearings, blank tubes and moulds. The company is headquartered in Orebro, Sweden, with subsidiaries in Finland, Denmark and Norway. It employs 300 staff.

Johnson Metall Finland, formerly Messukylän Metallivalimo, was founded in 1944. The company was acquired by Johnson Metall in 1970 and integrated within the group. It specialises in manufacturing bronze bearings and other bronze components, casting goods and special alloys.

People
Norvestor – Trond Bjørnøy (partner).
Johnson Metall – Torbjörn Nordh (CEO); Juha Heinonen (CEO of JMOY).

Advisers
Vendor – MCF Corporate Finance (corporate finance); Thommessen (legal); PwC (financial due diligence); Arkwright (commercial due diligence).
Acquirer – Advium (corporate finance).

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• Topics
• Exits
• Nordics
• Industrials
• Norvestor
• Sweden
• Finland
• Trade sale
• PwC
• Partial sale