Triton sells OBH Nordica to Groupe SEB

Mikkel Stern-Peltz
10 July 2015

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Triton has sold Scandinavian domestic appliances brand OBH Nordica to French appliances conglomerate Groupe SEB in a trade sale.

The exit will see Triton sell the 52% stake it acquired in 2010, alongside the 48% stake held by other shareholders, pending the latter's approval.

Since the acquisition, Triton has organised OBH's main operations at the company's Swedish headquarters, invested in a new warehouse and has expanded the company's presence in China, among other initiatives.

Trade buyer Groupe SEB is a French domestic equipment manufacturer, which includes the Tefal, Moulinex and Krups brands. Nordica started out by distributing Rowenta- and Tefal-branded products – both of which are now owned by Groupe SEB – before the owner of the brands launched its own Swedish subsidiary in 2001.

Previous funding
OBH Nordica was acquired by Triton in 2010, when the GP purchased 52% of the company's shares in an MBO.

Company
OBH Nordica is designs and manufactures small domestic appliances including kitchen, wellness and beauty devices.

The company's history dates back to the 1960s and the Bertil Joffe home appliances business – owner of Rowenta and Tefal. In 1986, the Ek brothers – both of whom were Nordica employees – bought the company. In 2002, the owners merged the Nordica brand with Ole Bødtcher-Hansen, a Danish appliances company founded in 1985.

Headquartered in Sundbyberg near Stockholm, OBH Nordica employs 140 people and had revenues of SEK 750m last year.

People
Peder Prahl is the founding partner of Triton Partners. Thierry de la Tour d'Artaise is chair and CEO of Groupe SEB.