Stockholm November 4, 2004
Segulah II, L.P., today announced that it has acquired the Danish Company Kosan Crisplant A/S, an Aarhus based engineering group with a world leading position in filling equipment for LPG (Liquefied Petroleum Gas) bottles. In the financial year ending March 31, 2004, Kosan Crisplant had a turnover of DKK 195 mio and pre-tax earnings of DKK 25,4 mio. The previous owner of Kosan Crisplant is the listed British group FKI Plc.
Kosan Crisplant was founded in 1951 and operates a true global business with approx 1,500 installed filling plants in 110 countries around the world. The company has substantial market shares in areas like Europe, Middle East, Africa and South America. Chief Executive Officer is Anders C. Anderson who has been with the company for 14 years. The total number of employees amounts to 120 of which 90 at the head office in Aarhus and 30 are spread out over sales and service offices in Mexico, Brazil, Cameroon and India. .
With a world leading position within its market niche, Kosan Crisplant represents an interesting investment opportunity for Segulah, with a potential for further development and expansion. The underlying growth of the global LPG market, in combination with requirements for automation and improved productivity in filling operations are factors that will contribute to Kosan Crisplant’s future growth.
Segulah will appoint Mr Anders Rungaard as Chairman of the new board of Kosan Crisplant. Mr Rungaard, who has an extensive experience of the gas industry, was lately Executive Vice President of AGA, the international gas giant. During his career with AGA he was also in charge of operations in Brazil, North America and Europe. Furthermore, Mr. Rungård has held the position as Chairman of the European Industrial Gas Association.
“We are looking forward to support Kosan Crisplant and its management team implementing
an ambitious business plan including increased geographical presence and market penetration, as well as product development”, says Anders Rungård, new Chairman of the board.
“I am very happy with Segulah as new owner, supporting a new exciting development stage of our company”, says Anders C. Anderson, CEO of Kosan Crisplant.
Segulah is a Stockholm based private equity company with the business concept to create value by owning and developing medium-sized companies in the Nordic area. Segulah is focused on management buy-outs, meaning that management and Segulah jointly acquire, control and develop the company. By using its highly qualified network of industrial advisors, Segulah provides the required experience to improve corporate performance. Last week Segulah announced the closing of its third fund, Segulah III, L.P. of ? 250 m.
For further information, please contact:
Anders Claesson, AB Segulah,+46 705 75 14 55 or email claesson@segulah.se
Anders C. Anderson, CEO Kosan Crisplant A/S +45 87403000 or email aca@kosancrisplant.com
