SWEDEN - Segulah sells Isaberg Rapid to Esselte

Founded in 1936, Isaberg manufactures desktop staplers, stapling tools, and glue guns, as well as electric insert staplers for copying machines and printers. The products are sold in more than 130 countries. Headquartered in Hestra outside Jönköping, the group now has production centres in Sweden and China.

Segulah acquired Isaberg in January 2007 for a reported SEK 500m. Handelsbanken provided a senior debt package to support the deal.

During Segulah's near three year ownership, the investor completed restructuring processes started by the former owner, Industrivärden, and increased the EBITDA margin from close to nothing to around 10%. Segulah was not looking the sell the business, but was approached by Esselte which had previously looked at business on several occassions.

By acquiring Isaberg Rapid, Esselte aims to expand its operations within the tools industry and strengthen its market position within stapling and punching.

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