Polaris backs Scandinavian Track Group MBO

The deal gives Polaris an 80% stake, while CEO Tomas Sjöblom and four managers have retained around 20%. The investment was made from Polaris III, which closed at €365m in 2009.

Peter Ankerst, partner, stated that Polaris intends to grow the company organically and through add-on acquisitions, and that it is currently considering two potential targets.

Debt
The deal was financed with senior debt from an undisclosed source.

Company
Scandinavian Track Group consists of eight independently operated subsidiaries, which provide services to the Scandinavian railway sector. It specialises in track, electricity, signal and telecoms. Based in Borlänge, Sweden, the company employs around 120 staff and has recorded SEK 170m of revenue.

People
Polaris partners Peter Ankerst and Jan Dahlqvist, investment manager Kristian Ortner and associate Simon Damkjær Wille worked on the deal for the GP. Tomas Sjöblom is the CEO of Scandinavian Track Group.

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• Topics
• Nordics
• Buyouts
• Industrials
• Sweden
• Polaris Private Equity