Accent acquires Steni from Total Capital

Accent acquired Steni via its Accent Equity 2012 fund, together with the company's management, Steni CEO Tom Rønning and new chairman Olav Kjell Holtan.

Accent's aim is for Steni's products to be used by more property developers, architects, constructors and DIY homebuilders.

Steni is the first investment completed by Accent Equity 2012, which opened for new investments last year. The vehicle closed on its SEK 3.8bn hard-cap in December 2011.

The fund targets lower mid-market transactions across all sectors in the Nordic region, with a focus on Sweden, Norway, Finland and Denmark.

Total Capital backed Steni's original management buyout in 2006. Turnover has increased from NOK 160m in 2006 to NOK 277m in 2012. Earnings have more than doubled over the holding period.

This is the third exit for Total Capital Partners since its inception in 2008.

Company
Founded in 1965 and based in Steinsholt, Steni is a Norwegian façade panel company with subsidiaries in the rest of the Nordic region, the Netherlands and the UK, as well as distributors elsewhere in Europe, the US and Canada.

The products include façade, interior and roof panels, which are manufactured out of fibreglass reinforced polymer composite. The company has an expected turnover of NOK 300m for 2013 and employs 120 staff.

People
Niklas Sloutski is the CEO of Accent. Erlendur Magnusson is a partner at Total Capital Partners. Tom Rønning is the CEO of Steni.

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

• Topics
• Nordics
• Buyouts
• Consumer
• Now researching
• Norway