Fund:
Segulah IV
Sector:
Manufacturing & Industrial Goods
Acquisition:
2014
Responsible partner:
Marcus Planting-Bergloo
“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.
| Name | Fund | Sector | Acquisition | Exit |
|---|---|---|---|---|
| NVBS Rail | Segulah V | B2B Services | 2020 | 2022 |
| Semantix | Segulah V | B2B Services | 2015 | 2021 |
| Conapto | Segulah V | IT/Technology | 2018 | 2021 |
| Docu Nordic | Segulah IV | B2B | 2014 | 2017 |
| Sandbäckens | Segulah V | B2B Services | 2016 | 2021 |
| Zengun | Segulah V | Construction | 2016 | 2019 |
| Teknikmagasinet | Segulah V | Retail | 2015 | 2018 |
| Mitt i | Segulah IV | Media | 2014 | 2019 |
| Oglaend Industries | Segulah IV | Manufacturing & Industrial Goods | 2014 | 2017 |
| eTRAVELi | Segulah IV | IT/Technology | 2010 | 2015 |
| Byggfakta Scandinavia | AB Segulah | Information services | 1996 | 1998 |
| EKH Ekonomihuset | Segulah I | Pension trusts | 1997 | 1999 |
| Wilkenson Handskmakar´n | AB Segulah | Retail | 1994 | 1997 |
| Teli Service | Segulah I | Repair & logistic services | 1997 | 2002 |
| Modul-System | Segulah I | Vehicle interior fittings | 1999 | 2002 |
| Norfoods | Segulah II | Food | 2000 | 2004 |
| EEN | Segulah I | Music & entertainment | 1999 | 2004 |
| CCS, Clean Chemical | Segulah II | Skin- and eye care | 2003 | 2004 |
| NVS Installation | Segulah II | HVAC installation | 2002 | 2006 |
| HMS Industrial Networks | Segulah II | Communication technology | 2004 | 2007 |
| Previa | Segulah II | Occupational health | 2004 | 2007 |
| Kosan Crisplant | Segulah II | LPG supplies | 2004 | 2008 |
| Callenberg Group | Segulah II | Marine electronics | 2001 | 2008 |
| Joy | Segulah III | Retail | 2006 | 2009 |
| Isaberg Rapid | Segulah III | Office supplies | 2007 | 2009 |
| NEA-gruppen | Segulah III | Electrical installation | 2006 | 2010 |
| Exotic Snacks | Segulah III | Food | 2008 | 2011 |
| Skandinavisk Kommunalteknik | Segulah III | Sewage systems | 2008 | 2011 |
| InfoCare | Segulah II | Electrical repair | 2004 | 2012 |
| Medstop | Segulah IV | Pharmacies | 2010 | 2013 |
| PMC Group | Segulah III | Hydraulics | 2005 | 2015 |
| S:t Eriks | Segulah III | Building products | 2005 | 2015 |
| Kemetyl | Segulah III | Chemicals | 2007 | 2016 |
| Almondy | Segulah III | Confectionery | 2008 | 2015 |
| Scan Coin | Segulah IV | Cash handling | 2010 | 2015 |
| CCS Healthcare | Segulah IV | Healthcare | 2011 | 2019 |
| Balco | Segulah IV | Manufacturing & Industrial Goods | 2010 | 2021 |
| Gunnebo Industrier | Segulah III, Segulah IV | Industrial | 2008 | 2019 |
