Nordic Capital Fund VI is to sell its majority shareholding in Nefab Packaging to the Nordgren/Pihl family, the original founders and currently co-owners of Nefab.
Since 2007, the company has grown its revenue and expanded its international presence. The strategy will remain the same under new ownership.
The Nordgren/Pihl family founded Nefab in 1949, and until 2007 was the majority owner of the company. Between 1996 and 2007, the company was listed on the Stockholm Stock Exchange. In 2007 the family and Nordic Capital joined forces to jointly acquire Nefab in a public-to-private transaction which delisted the company from the stock exchange.
From 2007 to 2013, Nefab increased sales from SEK2.3bn to approximately SEK3bn. During this time, several add-on acquisitions were made, including US-based Chick Packaging in 2010. With this acquisition, Nefab’s presence expanded from one to 10 manufacturing sites across the region.
“During its seven years of ownership, Nordic Capital has supported Nefab’s growth and international expansion, especially in the North American and Chinese markets. The ambitions were to strengthen the company’s competitiveness and ability to successfully meet its customers’ needs for transport packaging and related services, and to give Nefab a strong foundation for further development. Nordic Capital believes the goals for the investment have now been achieved; Nefab is today a stronger company with a strengthened geographical presence and higher market share. I would like to thank the family and management team for their good cooperation," says Hans Eckerström, board member of Nefab and partner at NC Advisory, advisor to the Nordic Capital Funds.
Currently, Nefab operates in 35 countries across Europe, the Americas and Asia.
“As the founders, we have a long-term view of our ownership in Nefab. The last seven years of co-ownership with Nordic Capital have been fruitful for the development of the company. Given our ambitions for the company’s future development we believe that continued private ownership is favourable for Nefab right now,” says Ing-Marie Nordgren, daughter to the founder of Nefab.
