Segulah III L.P. divests Nordiska VA-teknik AB (”Norvatek”)
On September 24, 2014 Segulah III L.P. (“S III”), Peab Industri AB and minority owners signed a final agreement to divest 100% of Norvatek to SEB Private Equity Opportunity Fund III S.C.A., SICAV-SIF and LK Finans AB.
Norvatek headquartered in Kungälv is a leading provider of prefabricated turnkey pump stations, and water and sewage solutions in the Swedish market. Primary customer group are municipalities.
Norvatek was formerly a separate subsidiary of S:t Eriks AB, a company jointly owned by S III and Peab Industri AB. In 2014, the group was formed through S:t Eriks’ acquisitions of Kungälvs VA Teknik (“KVATAB”) and ASB i Mariestad (“ASB”), and subsequent merger with S:t Eriks’ prefabricated pump business in Ettebro creating a leading business within its sector.
“Following the formation of Norvatek through the acquisitions of KVATAB and ASB, and merger with S:t Eriks’ pump business in Ettebro, Norvatek has now a strong platform in place for continued growth. Norvatek as part of S:t Eriks has been a very successful
investment for S III and the Company has the potential for continued success under its new ownership”, says Lennart Kalén, Chairman of the Board of S:t Eriks.
For further information visit www.segulah.se or contact:
Lennart Kalén, Industrial Partner, Segulah Advisor AB
Tel: +46 (0)8 402 87 00, Cell: + 46 (0) 705 36 26 00
E-mail: kalen@segulah.se
Marcus Planting-Bergloo, Partner, Segulah Advisor AB
Tel: +46 (0)8 402 87 00, Cell: +46 (0) 702 29 11 85
E-mail: planting@segulah.se
