Litorina backs Sveba-Dahlén Group MBO

The deal gave Litorina a shareholding of approximately 70%, with the remaining 30% held by management and previous owners. It represents the first investment made from the SEK 2.5bn Litorina IV fund, which closed in May 2010. The value of the transaction has not been disclosed.

Partner Jörgen Ekberg told unquote" that Litorina had been considering an acquisition of the family-held company for about four years. It intends to support Sveba-Dahlén through further integration of the group's subsidiaries, tapping into growing Russian and Chinese markets, and expanding sales to the retail segment, including supermarket bakeries.

Debt
Local bank Swedbank Sjuhärad supported the deal with a senior debt facility.

Company
Sveba-Dahlén, headquartered in Borås, Sweden, consists of three subsidiaries, which manufacture and sell bakery equipment to traditional, industrial, and supermarket bakeries. The product range includes ovens, make-up lines and mixers.

Founded in 1948, the company employs around 300 staff and recorded a SEK 500m turnover in 2010.

People
Managing partner Harold Kaiser, partner Jörgen Ekberg, director Ann Dahlman and associate Mattias Letmark worked on the deal for Litorina. Anders Rietz is the CEO of Sveba-Dahlén.

Advisers
Equity – Vinge (Legal); Bain & Company (Commercial due diligence); PricewaterhouseCoopers (Financial due diligence).

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• Topics
• Nordics
• Buyouts
• Industrials
• Sweden