Valentum advisor to Latour in the divestment of Specma Group to Schouw

The Danish investment company Schouw has signed an agreement to acquire Specma Group from the listed Swedish investment company Latour for an Enterprise Value of SEK 820 m. Specma Group is a leading Nordic hydraulics company with sales of almost SEK 1.4 bn and more than 750 employees.

Investment AB Latour (publ) has today signed an agreement to divest its business area Specma Group to Hydra- Grene, a wholly owned business of Danish long-term industrial conglomerate Schouw & Co. The divestment is subject to approval by relevant antitrust authorities and closing is expected in connection with the year-end.

Specma is an industry leading company in the Nordic market, providing hydraulic application systems and components to its customers. The business area is divided into two divisions, a Global Division which supplies components and hydraulic systems to large international OEM customers and a Nordic Division which supplies components and hydraulic systems to Nordic OEM customers, serves the after-market via some 100 resellers and offers a MRO concept. In the recent years, Specma has had a major focus on improving internal processes and increased efficiency. The work undertaken by long-term improvement activities has brought good results. For the last twelve months, Specma reports net sales of SEK 1 355 m, operating profit of SEK 67 m and has 755 employees.

“We have been owners of Specma for a very long time, actually since Latour was founded”, says Jan Svensson, CEO of Investment AB Latour. “Since we have gradually become more stringent in our acquisition and development strategy, with focus on businesses with proprietary products, we chose to communicate earlier this year that we plan to divest Specma. It is natural for Latour in the long term to invest more resources in activities that are consistent with our investment criteria. I am convinced that Schouw will be a good owner of Specma, which thereby can continue to develop.”

Specma will be the eighth transaction completed by Valentum during 2015. “Together with our Nordic partners we have completed 16 transactions in 2015 so far with a total Enterprise Value of more than SEK 8 bn,” says Gustaf Plyhm, Partner at Valentum.

“The process was competitive and we had several prospective buyers conducting parallel due diligence and negotiating terms during the fall. Schouw proved to be the best acquirer for Specma Group with their industrial knowledge and long term focus”, says Tomas Almgren, Director at Valentum.

The deal team at Valentum comprised of: Tomas Almgren, Gustaf Plyhm, Oscar Coster and Anders Jonsson, have appreciated the successful cooperation with Latour, the management of Specma Group, Vinge (legal advisor) and PwC (financial vendor assistance).

For further information contact:
Tomas Almgren

Director, Valentum Partners
+46 8 41 200 406
+46 704 500 369
tomas.almgren@valentum.se

Valentum
specialises in the conduct of corporate transactions for privately owned companies in the value range SEK 100 million and SEK 2 billion. Our focus is advisory and project management services for the sale and acquisition of companies. We also work with clients on an on-going basis on long-term ownership strategy issues. Through our years of experience, clear focus on our client group and hard work, we are able to maximise value for our clients. www.valentum.se

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Valentum Partners är specialiserade på att genomföra företagstransaktioner inom värdeintervallet 100 - 2 000 MSEK åt privatägda företag. Vårt fokus är rådgivning och projektledning av företagsförsäljningar och förvärv, men vi arbetar också kontinuerligt som långsiktig rådgivare inom ägarstrategi. Genom lång erfarenhet, tydligt fokus på vår kundgrupp och hårt arbete levererar vi ökat värde för våra uppdragsgivare. www.valentum.se

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The Danish investment company Schouw has signed an agreement to acquire Specma Group from the listed Swedish investment company Latour for an Enterprise Value of SEK 820 m. Specma Group is a leading Nordic hydraulics company with sales of almost SEK 1.4 bn and more than 750 employees.
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We have been owners of Specma for a very long time, actually since Latour was founded
Jan Svensson, CEO of Investment AB Latour
Since we have gradually become more stringent in our acquisition and development strategy, with focus on businesses with proprietary products, we chose to communicate earlier this year that we plan to divest Specma. It is natural for Latour in the long term to invest more resources in activities that are consistent with our investment criteria. I am convinced that Schouw will be a good owner of Specma, which thereby can continue to develop.
Jan Svensson, CEO of Investment AB Latour
The process was competitive and we had several prospective buyers conducting parallel due diligence and negotiating terms during the fall. Schouw proved to be the best acquirer for Specma Group with their industrial knowledge and long term focus
Tomas Almgren, Director at Valentum