Segulah to divest Callenberg Group to Wilhelmsen Maritime Services Holding AS

1 November, 2007

On Wednesday, October 31, Segulah II, L.P. entered into a binding agreement with Wilhelmsen Maritime Services Holding AS regarding the sale of the Callenberg Group (the “Group”). The agreement is only conditional upon competition authority approvals.

Wilh. Wilhelmsen is a leading global maritime industrial group. It has 13,300 employees in its wholly-owned companies and employs 23,000 people when joint ventures are included. WW’s wholly-owned companies have 352 offices in 71 countries. These figures rise to 516 offices and 79 countries with joint ventures included. For further details, see

Wilhelmsen Maritime Services Holding AS (WMS) is a wholly-owned subsidiary of Wilh. Wilhelmsen ASA. It occupies a leading position in the global maritime service industry and aims to be the shaper of the maritime service industry. Working through four business areas – Barwil Unitor Ships Service, Barber Ship Management, Unitor Ships Equipment, and Maritime Solutions & Financial Services – the company has 4,700 employees working from 352 offices in 71 nations. Through its global network, WMS has the capacity to deliver products and services in 2,200 ports in 116 countries. For further details, see

Callenberg Group is a leading supplier of electrical, automation and HVAC systems to the marine and offshore markets with offices in Uddevalla, Gothenburg, Oslo, Odense, Miami, Singapore and Shanghai. For further details, see

Callenberg was acquired by Segulah II, L.P. in May 2001. Since then, the Group has increased its revenue from approximately MSEK 225 to more than MSEK 1,000 this year with good profitability. The growth has been achieved through a combination of organic and acquisitive initiatives.

Based on the binding agreement, the shareholders of Callenberg Group will receive approximately MSEK 410 for the shares and outstanding shareholder loans in the Group. Segulah II, L.P. owns approximately 90% of the shares in Callenberg Group.

For further information visit or contact:
Anders Claesson, Partner, Segulah Advisor AB
Tel: +46 (0)8 442 89 54, Cell: + 46 70 575 14 55

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