Triton sells Bravida to Bain Capital
During Triton’s ownership, Bravida has been transformed into Scandinavia’s leading technical installation and service solutions provider. The company is uniquely positioned for continued profitable growth under the ownership of Bain Capital.
Triton Fund II, a fund within the private equity group Triton, the investment firm focused on Northern Europe, has agreed to sell the technical installation and service solutions company Bravida AB (“Bravida”) to Bain Capital. The transaction value was not disclosed.
Triton acquired Bravida in 2006. During its ownership and in partnership with management, Triton implemented a comprehensive program to turn around the company. This included improved project selection, increased focus on higher margin service and maintenance revenues, reorganisation of the branch network and restructuring the Norwegian business. As a result Bravida has successfully positioned itself as the market leader in Scandinavia.
Mats O Paulsson, president and CEO of Bravida, comments
- Bravida is uniquely positioned for continued growth based on our extensive breadth of capabilities and market position in Scandinavia. We also see a strong upside potential supported by robust industry trends, such as an increased share of installation in building projects. Overall I believe that Bravida today is more competitive than ever.
Thomas Tarnowski at Triton comments
- Triton has, together with management, put a lot of effort into transforming Bravida in several critical areas, resulting in a very successful turnaround for the business. We are especially proud of how Bravida has developed into a highly resilient company with industry leading margins. We strongly believe that Bravida will continue to prosper under the ownership of Bain Capital.
Michel Plantevin, Managing Director at Bain Capital, comments
- Bravida is the leading multi-technical services provider in the Nordics with an impressive performance over the last five years, and we are delighted to support the Company and its management to grow and develop the business further. We see considerable opportunities for driving expansion of the business, including via acquisitions and we are looking forward to being part of Bravida's next phase of growth.
The transaction is subject to applicable competition law approvals.
For further information, please contact:
Thomas Tarnowski, Triton Advisers Limited, +46 (0)8 410 32 183
Mats O Paulsson, President and CEO, Bravida, +46 (0)76 842 89 15
Ed Gascoigne-Pees, PR for Bain Capital, +44 (0)20 7269 7132
About Bravida
Bravida is Scandinavia's leading integrated supplier of technical installation and service solutions for buildings and plants. Bravida offers specialist expertise and integrated solutions in electrical installations, heating & plumbing and HVAC. In these three areas of technology Bravida operates at all stages of the installation – from advice and project planning to installation and service.
With approximately 8,000 employees and net sales of SEK 10,768 million for 2011 Bravida has a strong position in the Scandinavian building services market. Thanks to its local presence in 150 locations in Sweden, Norway and Denmark, Bravida always operates close to the customer. Furthermore, on the back of its breath of services and size, Bravida has the capacity to carry out major and complex projects without geographic limitation.
For further information about Bravida: www.bravida.com
About Triton
Triton is an independent investment firm dedicated to investing in leading medium-size companies in Germany, Switzerland, Austria and the Nordic countries. Funds advised by Triton currently own 25 companies within three core sectors: Business Services, Industrials and Consumer / Health. Since its inception in 1998, Triton has completed 40 investments and together with management has completed more than 75 add-on acquisitions creating further growth opportunities. With 77 experienced professionals operating from local offices in Jersey, Luxembourg, London, Frankfurt and Stockholm, Triton and its advisers have outstanding expertise in working alongside management teams to turnaround, develop and grow businesses, particularly those which have encountered operational or financial difficulties.
For further information about Triton: www.triton-partners.com
About Bain Capital
Bain Capital is a global private investment firm that manages several pools of capital, including private equity, venture capital, public equity, credit products and absolute return, with approximately $60 billion in assets under management. Since its inception in 1984, the firm has made private equity investments and add-on acquisitions in more than 300 companies worldwide. Bain Capital has a distinctly people-intensive, value-added approach to investing, with a strong emphasis on supporting management teams to drive strategic and operating improvements. Bain Capital Europe, the firm’s European private equity affiliate, has been investing with the same philosophy since 1989. Bain Capital business services private equity investments have included such leading businesses as Securitas Direct, IMCD, Brenntag, and Brakes. Bain Capital has offices in London, Munich, Boston, Chicago, New York, Hong Kong, Mumbai, Shanghai and Tokyo.
For further information about Bain Capital: www.baincapital.com