Herkules exits Projectiondesign in trade sale

Projection Holding owns 61% of the shares in Projectiondesign, a developer and manufacturer of projectors for professional applications.

Herkules sold all of its shares in Projection Holding AS to Barco. The transaction was closed immediately after signing the share purchase agreement.

The Norwegian buyout house acquired a 54% stake in Projectiondesign AS in October 2009 from founder Bård Eker (Eker Group), through its Private Equity III fund. The remaining shares were held by company employees. The deal did not include a debt component.

Company
Projectiondesign's products are used for professional, business and consumer applications, such as scientific visualisations, simulation, medical imaging and public displays. The company also serves the corporate presentation market and the consumer market for home cinema.

Headquartered in Fredrikstad, Projectiondesign has sales representatives in Gothenburg, Singapore, Milan, Stuttgart, Bilbao, Bombay, Cape Town, London and New York.

The company was founded in 2001. In 2010, Projectiondesign generated revenues of NOK 317m, which increased to NOK 427m in 2011.

People
Patrik Bø Egeland is a partner at Herkules Capital. Eric Van Zele is the CEO and president of Barco.

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