Accent sells Autotube in trade sale

Accent has held the firm in the vehicle Accent Equity 2008 since 2011.

The acquisition extends MGI's international footprint and product offering. The firm is listed on NYSE Euronext Paris; net sales in 2013 reached €664m.

Previous funding
In 2011, Accent wholly acquired Autotube from Specma Hydraulic, a unit of Investment AB Latour, according to unquote" data. The GP bought the stake via Accent Equity 2008, which closed on €380m. The transaction was supported by a debt package provided by Varbergs Sparbank.

Latour launched a sales process for Autotube in 2007, which was pulled when the automotive industry ground to a halt as a result of the financial crisis. Accent was aware that Latour was keen to sell by Q1 2011 and approached the seller.

Company
Founded in 1956, Autotube is based in Varberg and delivers automotive components for heavy vehicles and passenger cars. The product range includes tubes and tube systems for air and fluid distribution, as well as other special components. Customers include Volvo Cars, Volvo Trucks, Scania, MAN, Ford and Jaguar Land Rover.

Autotube operates two production sites in Varberg and Ulricehamn in Sweden. Sales in 2013 reached SEK 610m, up from SEK 400m at the time of Accent's buyout. The firm employs 265 staff.

People
Niklas Sloutski is CEO of Accent.

Advisers
Vendor – Lincoln International (Corporate finance); Hannes Snellman (Legal); KPMG (Financial due diligence).

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