Nordic Capital completes the sale of Luvata Group
Nordic Capital Funds V and VI (together "Nordic Capital") announce that they have completed the sale of their North American Tubes operations, the final remaining operating units of Luvata Group, ("Luvata"), provider in metal solutions manufacturing and related engineering services.
Nordic Capital acquired Luvata in 2005 from Outokumpu Oyj, and the Group has evolved from a fabrication-based business to a solutions-driven company, earning leadership positions in many of the industries it serves today. The sale of the North American Tubes operations to Waybill USA Inc., together with the divestments in the last 18 months of other Luvata divisions as separate entities to Mitsubishi Materials Corporation, Modine Manfacturing Company, and Zhejiang Hailiang Co. Ltd, completes the sale of Luvata Group.
The parties have agreed not to disclose the financial terms of the transaction.
Elin Ljung, Director of Communications and Sustainability
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
About Nordic Capital
Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com.