Segulah IV Futurum Utvikling AS and minority shareholders have signed an agreement to sell 100 per cent of Øglænd Industrier to family-owned Hilti AG.
Øglænd Industrier develops, manufactures and sells multidiscipline support solutions, cable trays and cable ladders world-wide to the oil & gas, infrastructure, ship building, wind power, water treat- ment and clean room industries. These solutions deliver added value through reduced installation time, maximised volume utilisation, weight reductions, enhanced life-time integrity and improved safety performance. In 2016, the Company had sales of MNOK 1,483.
Øglænd was acquired in March 2014 by Segulah IV from the Norwegian families Hoff, Austigard and Øglænd. The founder Gunnstein Austigard remained, through Futurum Utvikling, a significant minority owner of Øglænd Industrier.
During Segulah IV ́s ownership, Øglænd ́s profitability has improved significantly, with EBITDA in- creasing from MNOK 131 in 2013 to MNOK 349 in 2016. This has been achieved through a combi- nation of strong organic growth, efficiency improvements, development of new competitive solutions and a dedicated focus on increased engineering content.
“Øglænd has in recent years showed a strong profitable growth and during this period Segulah has proven a very supportive owner, and has been instrumental in the growth and development of the Company. Now, with Hilti as our new owner, we have all the opportunities to continue on our global growth path,” says Geir Austigard, CEO of Øglænd.
“We are very pleased with how Øglænd has developed over the past three years – it has been an
exceptionally successful investment that has given the investors in Segulah IV a great return. We believe that Hilti will be a very good new owner, allowing the business and Øglænd ́s outstanding management to continue building on its success,” says Marcus Planting-Bergloo, Partner of Segulah Advisor AB.
The transaction is subject to competition clearance.
