CapMan exits Swereco in SEK 250m deal

The total price of the trade sale was SEK 250m, with SEK 118m in cash and the remainder in newly issued shares.

CapMan's exit comes five years after it acquired a minority stake in Swereco, in a deal reported to be worth less than €10m. The investment was made through the CapMan Life Science IV fund in November 2010.

The sale of Swereco adds to the GP's three private equity portfolio exits in 2015, having sold Symbio and Cederroth in January, followed by Silex in July.

Company
Founded in 1973, Swereco develops and manufactures support devices for people with disabilities. Its products include crutches, shower seats and walkers, as well as reaching and gripping tools.

The Stockholm-headquartered company has offices in Oslo and Copenhagen, while its products are distributed across the Nordic region, Germany, the UK and central Europe.

Swereco's net revenue was SEK 150m in 2014.

People
Johan Bennarsten is a partner and led the deal for CapMan. Henrik Palm is the CFO of Swereco.

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