Fund: Segulah IV
Area: Kabelrännor/stegar
Acquisition: 2014

Øglænd Industrier

“Øglænd has in recent years showed a strong profitable growth and during this period Segulah has proven a very supportive owner, and has been instrumental in the growth and development of the Company. Now, with Hilti as our new owner, we have all the opportunities to continue on our global growth path”, says Geir Austigard, CEO of Øglænd. 

Øglænd Industrier develops, manufactures and sells multidiscipline support solutions, cable trays and cable ladders world-wide to the oil & gas, infra­structure, ship building, wind power, water treatment and clean room industries. These solutions deliver added value through reduced installation time, maximized volume utilization, weight reductions, enhanced life-time integrity and improved safety performance. 

Opportunity. The investment rationale was fourfold: i) to increase sales efforts and expand geographically to fully capture underlying market growth, ii) increase engineering capability to enable system sales rather than component sales, iii) broaden the product and service range, and iv) expand and refine the manufacturing footprint. 

What did Segulah provide? After the acquisition, the business developed significantly above plan, primarily attributable to a continuous focus on shifting sales from components to systems. This was made possible by significantly expanding engineering capabilities and investing in R&D. Furthermore, the manufacturing footprint was expanded through the establishment of a manufacturing facility in China and improved by the merger and relocation of two facilities in Malaysia. In addition, light manufacturing was set up in Russia.

Explained by the strong performance, Øglænd Industrier successfully completed a refinancing in December 2014, nine months after the acquisition took place, repaying a substantial portion of the original investment.

The result. On June 2, 2017, Segulah IV L.P., Futurum Utvikling AS and minority shareholders signed an agreement to divest 100% of Øglænd Industrier to family-owned Hilti AG.

During Segulah IV´s ownership, Øglænd´s profitability improved significantly, with EBITDA increasing from MNOK 131 in 2013 to MNOK 349 in 2016. This was achieved through a combination of strong organic growth, efficiency improvements, development of new competitive solutions and a dedicated focus on increased engineering content.

Current portfolio

Case studies

Realized portfolio

  • Name Fund Area Acquisition Exit
    Docu Nordic Segulah IV20142017
    Zengun Segulah V Construction20162019
    Teknikmagasinet Segulah V Retail20152018
    Oglaend Industries Segulah IV20142017
    eTRAVELi Segulah IV20102015
    Byggfakta Scandinavia AB Segulah Information services19961998
    EKH Ekonomihuset Segulah I Pension trusts19971999
    Wilkenson Handskmakar´n AB Segulah Retail19941997
    Teli Service Segulah I Repair & logistic services19972002
    Modul-System Segulah I Vehicle interior fittings19992002
    Norfoods Segulah II Food20002004
    EEN Segulah I Music & entertainment19992004
    CCS, Clean Chemical Segulah II Skin- and eye care20032004
    NVS Installation Segulah II HVAC installation20022006
    HMS Industrial Networks Segulah II Communication technology20042007
    Previa Segulah II Occupational health20042007
    Kosan Crisplant Segulah II LPG supplies20042008
    Callenberg Group Segulah II Marine electronics20012008
    Joy Segulah III Retail20062009
    Isaberg Rapid Segulah III Office supplies20072009
    NEA-gruppen Segulah III Electrical installation20062010
    Exotic Snacks Segulah III Food20082011
    Skandinavisk Kommunalteknik Segulah III Sewage systems20082011
    InfoCare Segulah II Electrical repair20042012
    Medstop Segulah IV Pharmacies20102013
    PMC Group Segulah III Hydraulics20052015
    S:t Eriks Segulah III Building products20052015
    Kemetyl Segulah III Chemicals20072016
    Almondy Segulah III Confectionery20082015
    Scan Coin Segulah IV Cash handling20102015
    CCS Healthcare Segulah IV Healthcare20112019
    Gunnebo Industrier Segulah III, Segulah IV Industrial20082019