Sjätte AP-fonden invests in Salcomp

AP6 acquired 45% of the shares via a holding company and entered into a partnership with majority owner Nordstjernan, which retains a 55% shareholding after the deal. Prior to the transaction, investment firm Nordstjernan wholly owned Salcomp.

Nordstjernan was ready to explore the possibility of taking on minority owners and contacted AP6 regarding a possible deal. Exclusive negotiations then took four weeks to complete. 

Salcomp used to be a Nokia in-house division, which subsequently span off. EQT acquired the company in 1999 and listed it on the Helsinki Stock Exchange in 2006. Nordstjernan acquired Salcomp in 2007. The company has doubled in size since then, according to Nordstjernan.

During the last 12 months, Salcomp experienced a net turnover of €466m. AP6 expects the company's turnover to see a double-digit growth in 2014. AP6 aims to expand Salcomp globally as well as continue developing its products, with a focus on the tablet and smartphone segments.

The completion of the transaction is dependent on approval from the relevant regulatory authorities.

Company
Headquartered in Salo, Finland, Salcomp is a manufacturer of mobile phone chargers, tablets and other mobile units. Salcomp's products include chargers and adapters for laptops, smart watches, card readers, gateways, routers, monitors and wireless charging solutions. Clients comprise several mobile and tablet manufacturers.

Salcomp has production facilities in China, India and Brazil as well as offices in Finland, Taiwan, South Korea, the US, Japan and Hong Kong. The company has a net turnover of approximately €466m and close to 13,000 employees.

People
Karl Swartling is the CEO of AP6. Tomas Billing is the CEO of Nordstjernan. Markku Hangasjärvi is the CEO of Salcomp.

Advisers
Equity – SEB (Corporate finance)
Vendor – Lazard (Corporate finance)

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