EQT launches longer-hold strategy, reinvests in Anticimex

The announcement signals a new fund to come in the future, but more details about the new strategy remain unclear. 

The GP told Unquote that the strategy will "focus on investment opportunities where the value creation and impact thesis require a longer hold period to be realised". It added that the strategy will focus on five long-term sustainability focused themes, namely regenerative resource usage; cleaner environment; health and wellbeing; unlocking human progress; and connecting the world securely and equitably.

With the new deal, the GP exits Anticimex via its EQT VI fund, and reinvests in the company via the new strategy, giving the company a valuation of SEK 60bn (€7.25bn). The GP has owned Anticimex since 2012.

Existing investor Melker Schörling is understood to have stepped up its investment in the company, according to the press release, and will be the second largest shareholder. Other investors include the Singapore sovereign wealth fund GIC, AMF, Interogo Holding Long-Term Equity and Alecta. 

EQT was initially planning to exit the company via an IPO but local media reported in spring this year that the GP could hold onto the company for longer.  

Last year, EQT sold a 9.9% stake in the company to GIC in a deal that valued the company at €3.6bn. A month later, Swedish investment company Melker Schörling bought an undisclosed minority stake in the company.

The transaction is expected to close in Q4 2021.

Company
Founded in 1934 and headquartered in Stockholm, Anticimex is a specialist in pest control. The company generated revenues of SEK 8bn in 2019. It currently has 4,000 staff and operates in 17 countries.

People
EQT – Per Franzén, Andreas Aschenbrenner (partners).
Anticimex – Jarl Dahlfors (CEO). 
Melker Schörling – Gun Nilsson (CEO).

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