Segulah IV acquires Balco Holding AB

25 October, 2010

Balco, founded in 1987, is one of the leading developers of balconies and balcony glazing systems in Europe. The Company’s strategy is based on technical leadership and continuous unique prod­uct development. Balco’s expertise spans the entire process from design to production and mounting/installation. Customers have historically been tenant owner associations and Balco’s core market segment is the renovation market. In 2010/11, the group is expected to report sales of MSEK 580. Since 2000/01, Balco has had an average revenue growth rate of 14% p.a. The Com­pany’s head office is located in Växjö, Sweden. The company is primarily active in Sweden, Norway, Denmark, UK, Germany and Poland.

The seller in the transaction is the UK-based listed private equity group 3i and Manage­ment.

Segulah Advisor AB’s Industrial Partner, Lennart Kalén (Chairman of Segulah III portfolio compa­nies S:t Erik’s and SKT, former CEO Dahl Sweden Group/Saint Gobain) will join the board as Chairman of Balco. Kerstin Gillsbro (CEO Jernhusen, former CEO NCC Boende, Board member of SKT) and Håkan Bergkvist (CEO Imtech Nordic and NVS) will also join the board.

Balco’s CEO Michael Wickell comments: “3i has provided valuable support in our development so far. We are now delighted to have Segulah as new majority owner to assist us in the next phase of growth at Balco. We believe we are well positioned to further strengthen our market position.”

“Balco is one of the leading developers of balconies and balcony glazing systems in Scandinavia. The company is recognized by its customers and competitors as the market leader in its core mar­kets of Sweden and Norway, and enjoys a broad geographical presence in other attractive markets such as Germany. The growth has been impressive and I look forward to supporting management in further developing the Company”, says Lennart Kalén.

“Balco has a strong track record of profitable growth through technical leadership and by focusing mainly on the more stable renovation market. As such, the Company is well positioned for contin­ued profitable growth in several sizeable European markets offering significant growth potential. Segulah IV looks forward to supporting the com­pany’s continued development as a committed and active owner”, says Percy Calissendorff, Partner at Segulah Advisor AB.

The acquisition will be Segulah IV L.P.’s fifth investment. Management will reinvest and remain as significant shareholders alongside Segulah IV L.P. The transaction is subject to German and Nor­wegian Competition Authority approval.

For further information visit
www.segulah.sewww.balco.se or contact:
Lennart Kalén, Industrial Partner, Segulah Advisor AB
Cell: +46 (0) 705 36 26 00, kalen@segulah.se

Percy Calissendorff, Partner, Segulah Advisor AB
Cell: +46 (0) 733 47 62 81, calissendorff@segulah.se

Michael Wickell, CEO Balco AB
Cell: +46 (0) 708 45 10 40, michael.wickell@balco.se


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