FSN Capital to buy Troax from Accent Equity

Accent hired ABG Sundal Collier to manage a limited auction process, whereby a few selected funds were invited to participate as prospective buyers. Accent stated that management played an important role regarding the choice of buyer – the fact that the management team was satisfied with the new owner was deemed more important in the transaction than the price, the GP told unquote".

Negotiations started in October and closed on 28 December 2012 when the deal was signed. Swedbank provided the financing.

Troax will continue to expand internationally, particularly in the US and China. Growth will take place both organically and through acquisitions.

Previous funding
Accent – investing via its 2008 fund – agreed to acquire Troax from the Gunnebo security group in November 2010, together with the company's management.

The 2010 deal was completed after a brief process, since Gunnebo wanted to sell before the end of the year. Negotiations took place between October and December 2010.

Company
Troax produces machine safety solutions for automated and robotised processes, as well as solutions for the warehousing and logistics sector, including partition wall and collapse protection systems. Troax is present in 26 countries worldwide, with six distribution hubs.

People
Peter Möller is a partner at FSN. Thomas Widstrand is the CEO of Troax. Niklas Sloutski is the CEO of Accent.

Advisers
Equity – White & Case, Lennart Petterson (Legal); Ernst & Young, Michel Eriksson (Financial due diligence); Bain & Company, Magnus Burling (Commercial due diligence).
Vendor – Mannheimer Swartling, Peter Alhanko, Johan Frost Bergman, Cecilia Malmberg Floden, Michaela Daveus (Legal); PwC, Henrik Petre, Pierre Heneen, Kajsa Gustafsson, Anna-Karin Hessling (Financial due diligence); ABG Sundal Collier, Johan Linden, Vidar Andersch, Christoffer Brandorf (Commercial due diligence).

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