Segulah Acquires Håells Modul System
SEGULAH ACQUIRES HÅELLS MODUL SYSTEM SEGULAH has acquired 91 % of the HÅELLS Group, one of Europe's leading manufacturers and suppliers of system fittings for service vehicles. The sellers are the company's founder and main owner, Harry Andersson, and Företagskapital AB (within the Atle Group). Företagskapital has been a minority owner since 1991. Harry Andersson will retain 9 % ownership in the company. The HÅELLS Group is based in western Sweden with head office in Mölndal, outside Gothenburg, and manufacturing in Mullsjö, outside Jönköping. The company's products are marketed under the brand name "Modul-System" and are sold by Håells' own sales force in Sweden, Germany, France and Belgium and through distributors in the rest of Europe. In 1998, the Group had a turnover of SEK 154 million. 75 % of sales were outside of Sweden. The total number of employees are 150. AB Segulah is a private equity firm owned by its board of partners and management. Segulah invests in and develops established small and mid-sized companies in mature industries, preferably retail, service and light manufacturing. The business idea is to create value through active ownership by injecting general business knowledge as well as financial and industrial experience into the company, in addition to the capital that the company may require. AB Segulah is the formal Swedish partner of Duke Street Capital (previously HEV Ltd). AB Segulah is currently part-owner of Wilkenson Handskmakar'n AB and in Ordning & Reda Papper och Design AB. Segulah I is a private equity fund of SEK 200 million managed by AB Segulah. It was formed in February 1997 with the purpose of investing in Swedish small and mid-sized companies. Investors in the fund are, among others, Norsk Vekst ASA (Norwegian listed investment company), Prim Associates (American private equity institution), the Bonnier Group (Swedish media group), Cancerföreningen i Stockholm and AB Segulah. The capital of the fund is to be invested over a 4-year period. The IT-education company LärData AB was Segulah I's first investment. Other investments include Teli Service AB, the leading work shop repair company for IT-products in the Northern region, and EKH Ekonomihuset AB, Sweden's leading administrator and fund manager for pension foundations. For further information please contact Harry Andersson at Håells, tel+ 46-31- 746 97 05 or Christian Sievert at Segulah, tel: + 46-8-442 89 53. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/09/19990503BIT00640/bit0001.doc http://www.bit.se/bitonline/1999/03/09/19990503BIT00640/bit0002.pdf