DECEMBER 21 2019
Nordic Capital has signed an agreement to acquire the business unit Consilium Marine & Safety, one of the world’s largest producers of safety and safety-related technologies, within fire and gas detection, for the marine, oil and gas, transport and building sectors, from Consilium AB (publ) for an enterprise value of SEK 3 000 million on a cash and debt free basis. In partnership with the management team, Nordic Capital will support Consilium Marine & Safety’s continued growth as a strong new independent company and further strengthen the Company’s strong position and service offering by investing in R&D, Commercial Excellence and M&A.
Consilium Marine & Safety’s product range includes fire & gas detection systems, as well as solutions within safety management and emission monitoring, for the marine, oil and gas, transport and building sectors. Consilium Marine & Safety, headquartered in Gothenburg, Sweden, has a global presence with 50 sales offices located across 25 countries, annual revenues of SEK 1,551 mn, EBITDA of SEK 240 mn (LTM as per September 2019), and c. 850 employees.
Nordic Capital is well equipped to support Consilium Marine & Safety’s continued development and growth strategy by leveraging its deep sector expertise combined with its operational and financial resources. Nordic Capital has extensive expertise of investing in Industrial & Business Services companies, deploying more than EUR 3.5 billion in 38 platform investments to date including current portfolio companies iLOQ and Ryds Bilglas as well as former portfolio company Marioff, a world leading fire protection system supplier for the Marine segment.
“Nordic Capital is a highly experienced investor with a long history of growing sustainable businesses. We believe it to be an ideal partner to support Consilium Marine & Safety´s continued growth strategy, reinforcing the company’s position as a global leading supplier of products and systems that are used to protect lives, material values and the environment,” says Ove Hansson, President and CEO of Consilium AB (publ).
“Nordic Capital is very excited to work together with the management team to invest and further accelerate the growth and development of Consilium Marine & Safety. It is a good fit with our investment strategy within the Industrial & Business Service sector. The Company holds strong positions within the highly attractive safety niche, supported by stable and positive underlying market trends, a strong growth momentum and a high and increasing share of recurring aftermarket revenues. There is a clear value in establishing a new stand-alone Company, fully focused on putting safety first for its customers and thereby solidifying its strong position in the growing market for safety solutions. We have followed the Company’s development for a long period of time and are very impressed by the Company and the competence and commitment of the employees,” says Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors.
The transaction is subject to a) customary regulatory approvals, and b) an approval of the proposed transaction at an Extraordinary General Meeting in Consilium AB. The Board of Consilium AB has today announced their recommendation to the proposed transaction.
Consilium Marine & Safety will continue under its current name, as Nordic Capital will acquire the brand “Consilium” as part of the transaction.
Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by its exclusive advisors, the NC Advisory entities and the Nordic Capital Investment Advisory entities, any or all of which is referred to as Nordic Capital Advisors.
Media contacts:
Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com
Consilium AB (publ)
Ove Hansson, President and CEO
Tel: +46 8-563 05 300
e-mail: ove.hansson@consilium.se
About Consilium Marine & Safety: Consilium Marine & Safety Group is one of the world’s leading suppliers of safety and safety-related technologies for the marine, oil and gas, transport and building sectors. Consilium Marine & Safety Group provides their sectors with fire and gas detection systems, emission monitoring systems and related equipment. The guiding-star of Consilium’s offering is to be the customer’s choice when safety matters and to offer superior customer value. Consilium Marine & Safety Group is represented in 25 countries, in all time zones and is always close to its customers.
About Nordic Capital
Nordic Capital is a leading private equity investor 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 long history. Core sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrial & Business Services and Consumer. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 14 billion in over 105 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com