Fund: Segulah IV
Sector: Manufacturing & Industrial Goods
Acquisition: 2014
Responsible partner: Marcus Planting-Bergloo

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 Sector Acquisition Exit
    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