Segulah sells S:t Eriks to Accent Equity

The deal will see the SEK 3.8bn Accent Equity 2012 vehicle wholly acquire S:t Eriks from Segulah and industrial co-owner Peab Industri, as well as minority shareholders.

Segulah's exit comes nine years after it acquired Nordform – which would later be merged with S:t Eriks – in a 2005 management buyout from the Skanska construction group, through its Segulah III fund.

The merger with S:t Eriks saw Segulah and the company's industrial owner Peab enter into joint ownership of the new entity, alongside the company's management.

Under Segulah's ownership, the company has strengthened its core business of prefabricated concrete products through acquisitions, while divesting non-core assets such as pump manufacturer Norvatek, which was sold in September.

Company
S:t Eriks is a manufacturer of prefabricated concrete products for the infrastructure sector and private consumers. Originally founded in Uppsala in 1888 as a ceramic tile factory, it changed its focus to concrete manufacturing in the mid-20th century.

Nordform was also founded in the late 19th century, and was merged with S:t Eriks in 2009.

S:t Eriks had net sales of around SEK 800m last year and employes around 350 employees. According to the most recent publicly available data, S:t Eriks had revenues of SEK 863m in 2012/13 with a net profit of SEK 4.4m and 415 employees.

People
Lennart Kalén is an industrial partner at Segulah, and was hitherto chairman of the board of S:t Eriks, while Niklas Sloutski is the CEO of Accent Equity Partners. Per-Johan Dahlgren is the CEO of S:t Eriks.

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• Topics
• Nordics
• Industrials
• Exits
• Buyouts
• Secondary buyout
• Segulah
• Sweden