Folksam joins Falck’s shareholder base
Press release, June 29, 2005
Nordic Capital has sold shares representing 5% of the capital in Falck to the Swedish insurance company Folksam. Anders Sundström, CEO of Folksam, joins the board of Falck.
Falck’s main business is to provide auto, home and healthcare assistance, ambulance and fire fighting services as well as off-shore and maritime safety training. The activities take place in Northern Europe and selected markets in Asia and South America.
Nordic Capital expects Folksam to contribute to the successful development of Falck. Specifically, Folksam will support Falck in the expansion of its assistance and emergency activities in the Nordic countries.
“We are very pleased to have Folksam joining Falck’s shareholder base and Anders Sundström as a board member” says Christian Dyvig, Partner in Nordic Capital “Folksam is the ideal partner for capitalising on the development opportunities Nordic Capital announced in connection with the recommended tender offer for Falck”.
“I welcome the opportunity to work together with Anders Sundström on the board of Falck” says Lars Nørby Johansen, Chairman of Falck. “I believe he will assist Falck in accelerating its growth outside Denmark and especially in Sweden”.
“Folksam views Falck as a very attractive investment opportunity” says Anders Sundström “Falck has a unique business model with a very interesting product and service offering”.
After the transaction Falck’s shareholders are: Nordic Capital (75%), ATP Private Equity Partners (11%), Folksam (5%), and a broad group of senior managers and board members of Falck (9%).
For more information, please contact:
Christian Dyvig, Partner in Nordic Capital
Phone + 45 33 44 77 50
Anders Sundström, CEO of Folksam
Phone +46 (8) 7726610
Falck is a leading European provider of auto, home and healthcare assistance, ambulance and fire fighting services as well as off-shore and maritime safety training with a 2004 revenue of DKK 4.2bn. Falck has four business divisions (i) Assistance: rescue, emergency and healthcare services which help avoid or remedy damages to vehicles, persons, homes or business premises. The company currently has approx. 755,000 private subscribers and approx. 95,000 public-sector and corporate subscribers; (ii) Emergency: ambulance services including pre-hospital treatment, transport of patients and fire fighting services for public authorities; (iii) Training: contingency planning, rescue and safety training and consulting, primarily to the off-shore industry and the maritime sector; and (iv) Health: selected services within the healthcare sector, i.e. rehabilitation, aid equipment service and health centers. Falck provides Emergency services in Denmark, Sweden, Finland and Poland and Assistance services in Denmark, Sweden and Norway. The majority of the Emergency and Assistance revenue is generated in Denmark with Sweden, Norway and Poland showing strong growth. The Training revenue is generated in a range of countries in Northern Europe, Asia and South America. Falck currently has some 11,000 employees. www.falck.com
Folksam is a modern insurance company offering a full range of insurance, savings and loans services for every requirement. Every second Swede, every second home, one in four cars and 90 percent of all sports in Sweden are insured with Folksam. We use the knowledge we gain to increase road safety in the long term, help people enjoy healthier lives and reduce environmental impact. Folksam was founded in 1908 and has some 70 offices across Sweden. For further information, please go to www.folksam.se
Anders Sundström joined Folksam as CEO in September 2004. During the period 1994 – 1998, he held positions in the Swedish Government as Minister for Labour Market, Industry and Social Affairs. Anders Sundström is currently a member of the board of Vattenfall and Luleå University of Technology and has previously been a member of the board of Boliden and Swedbank (Föreningssparbanken).
ATP Private Equity Partners handles private equity investments on behalf of ATP and SP, including through the ATP Private Equity Partners I K/S and ATP Private Equity Partners II K/S investment funds, a company in the ATP Group. ATP Private Equity Partners was formed in 2001, and has since then focused on investments in private equity funds as well as coinvestments with such funds in European companies. ATP Private Equity Partners is among the largest European investors in the global private equity market with an annual investment programme of DKK 3-4.5 billion. Investment commitments include commitments to the Nordic Capital IV and V funds. Further information is available at www.atp-pep.com
Nordic Capital is a leading private equity firm focusing on investments primarily in the Nordic middle-market arena. The firm has a strong investment track record, an extensive network of contacts and firsthand knowledge of local industries and business practices. Since its inception in 1989, Nordic Capital has invested in more than 60 Nordic based companies operating in a range of segments and sectors. Nordic Capital’s proven investment strategy creates value by actively implementing key value drivers such as new industrial combinations, strategic repositioning and internationalization. A range of leading Nordic and international institutions are investors in Nordic Capital funds. www.nordiccapital.com