ICG buys Euro Cater from Altor

Euro Cater's management, led by CEO Steen D Pedersen, reinvested for a stake in the company. The deal is expected to be completed in Q2 2013, following approval from competition authorities.

JP Morgan led the deal as financial adviser to the vendors. The return for Altor Fund II was "attractive", the GP said in a statement. The deal was initiated by Altor, which generated returns in the region of 25% IRR, the GP told unquote".

Previous funding
Altor bought Euro Cater in December 2006. Since then, the company's revenues have increased from DKK 2.7bn to DKK 7.2bn, while its EBITDA has more than doubled from DKK 200m to DKK 500m. The company grew organically and made several strategic acquisitions including Svensk Cater in 2007, which facilitated the entry into the Swedish market, and inco in 2011, which saw the company enter into cash-and-carry.

Company
Headquartered in Aalborg, Denmark, and with roots dating back to the late 1950s, Euro Cater is a Nordic food service company that distributes frozen and chilled food as well as groceries and canned goods to professional kitchens in Sweden and Denmark.

The current Euro Cater group was established in 1986. The company now has a total of 36 distribution and cash-and-carry sites, and employs around 1,750 people.

People
Stefan Linder is a partner at Altor.

Advisers
Vendor – JP Morgan (Corporate finance); Bech-Bruun (Legal). 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Exits
• Nordics
• Consumer
• Denmark
• Sweden
• Intermediate Capital Group
• Altor