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Carnegie
Altor Equity Partners/
Bure Equity
Altor Equity Partners and Bure Equitybacked
investment bank Carnegie has
acquired the troubled Swedish bank
HQ Bank.
HQ Bank was closed in August this
year and had its license revoked by the
Swedish FSA (Finansinspektionen) for
breaking risk rules.
The acquisition of all issued shares in
HQ Bank amounts to SEK 268m. This
corresponds to HQ Bank’s outstanding
personnel convertibles.
In addition to HQ Bank, Carnegie has
acquired all issued shares in HQ Fonder
from Investment AB Öresund. Payment
for HQ Fonder totals SEK 850m and
comprises convertible preference shares
in Carnegie, and a convertible debenture.
Carnegie was recently ruled out as a
candidate to acquire HQ Bank.
Altor and Bure acquired Carnegie at the
beginning of 2009 after its license had
been revoked by the FSA.
AT Group
HitecVision
HitecVision has merged its portfolio
companies Aarbakke, Technor, Valco
and Vector to form AT Group (ATG).
The four companies are active in the oil
and gas industry and will jointly employ
1,200 people, with revenues in excess of
NOK 2bn. ATG will have operations in
14 countries.
HitecVision controls the companies
through the HitecVision IV fund that
acquired them in 2006. The investor
merged the companies as it sees growth
potential through consolidation and
benefiting from business relationships
and reduced costs.
Brand Factory
Scope Capital
Scope Capital’s portfolio company
Brand Factory has wholly acquired the
Finnish producer and supplier of in-store
communication Kariplast Oy.
The acquisition has not seen any
additional investments in the company
by Scope. Brand Factory’s purchase of
Kariplast will see the company consolidate
its position in the Nordic market.
Kariplast is based in Hyvinkää and
specialises in in-store communications
and merchandising for the retail sector.
In 2009 the company recorded a
turnover of SEK 22m, with a net profit
of SEK 6.5m
Scope acquired a majority stake in Brand
Factory in January 2010 through the
Scope Growth II fund. The advertising
group focuses on corporate, brand and
product branding with its headquarters
located in Upplands Väsby. Brand
Factory recorded a turnover of SEK
295m in 2009, and employs 185 people.
Wright Trafikkskole
Scope Capital
Scope Capital-backed Wright
Trafikkskole has acquired Norwegian
Transportfagskolen and Sikkerhetshallen
and Swedish Kul på Hjul Trafikskola.
Scope has not made a new investment in
conjunction with the acquisitions. The
acquisitions will see the company expand
its presence in Norway and enter the
Swedish market for driving schools.
Transportfagskolen and Sikkerhetshallen
are both based in Sarpsborg and recorded
a combined turnover of NOK 15m in
2009, with 15 employees.
Kul på Hjul is based in Gothenburg
and recorded a turnover of SEK 4m in
2009, with seven employees. Wright
Trafikkskole will also set up a new branch
office in Gothenburg.
Wright Trafikkskole was founded in
1997 and is headquartered in Oslo.
Scope acquired a 65% stake in Wright in
December 2009. The company employs
80 and recorded sales in excess of NOK
80m in 2009.
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34 UNQUOTE OCTOBER 10 ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD
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