A consortium of three firms has bought an 80% share in bio fuel plant supplier KMW Energi for an undisclosed sum.
A consortium of three firms has bought an 80% share in bio fuel plant supplier KMW Energi for an undisclosed sum.
SEB Venture Capital, private equity firm CapMan and Aloe Private Equity bought the stake in KMW Energi with all four parties based in Stockholm.
The vendors’ retain equal shareholdings as part of the deal and the executive management remain with the company. The current owners retain the other 20%.
Jonas Nyman, Lars Hagdahl and Hadar Cars who co-ordinated the investment on behalf of SEB Venture Capital, CapMan and Aloe Private Equity respectively will join KMW’s board as non-executive directors.
Cambridge-based management consultancy Arthur D. Little, led by partner Petter Kilefors, provided financial advice.
Kilefors from the firm’s corporate finance advisory services department headed a team that included due diligence and renewable specialists from the firms’ energy and sustainability practices.
The team provided due diligence to the consortium and also worked with the management at KMW Energi throughout the deal.
Kilefors said: “We provided a global industry analysis as well as a second opinion on the growth and profitability prospects of KMW.”
Arthur D. Little was approached due to its expertise after conducting nearly 300 commercial due diligence reports in the Nordic area.
Nova of Stockholm provided legal advice to the vendors throughout the transaction after being recommended to the firm.
The team was led by partner Mats Willman and associate Henrik Nobel, compiling construction law expertise.
Established in 1989 CapMan employs some 100 people in Helsinki, Stockholm, Copenhagen and Oslo.
The firm has made more than 150 Nordic investments and in excess of 90 exits, its current portfolio consists of some 60 companies with an aggregate turnover of €2.7 billion (£1.8 billion).
Aloe Private Equity has offices based in Stockholm, Beijing, Paris, Hyderabad and London which are dedicated to the energy and environment sectors. Aloe’s two private equity firms actively support management buy-outs and consolidation strategies.
SEB Venture Capital is the European venture capital business of SEB with offices in Stockholm, Gothenburg, Malmo Vilnius and London. Established in 1995 the firm is an environmental investor with SEK 2 billion (£145 million) under management, has 20 staff and has made more than 70 investments and 35 exits.
KMW is a leading supplier of bio fuel combustion plants and a supplier of bio fuel heating plants and combined heat and power plants. It has 40 employees.
Founded in 1958, the firm supplies plants predominantly for the Swedish market with customers in Finland and Norway and had a turnover last year of €21.6 million (£14.4 million).
