IK Investment Partners, a Pan-European private equity firm, has signed an agreement with Trallfa, founding owner Gard Lauvsnes and other shareholders to acquire a majority stake in Norwegian Colosseum Dental, a provider of dental care in Scandinavia.
Lauvsnes will reinvest a significant proportion of the sale proceeds alongside IK to support the future value creation of the company. Terms of the agreed sale were not disclosed.
Headquartered in Oslo and employing approximately 350 professionals in total, Colosseum operates ten clinics in Norway, seven in Sweden and two in Denmark, offering a range of services from basic prophylactic care to specialist surgery.
The dental care markets in Scandinavia are attractive with strong drivers like growing and ageing populations, increased used of advanced and expensive treatments and increased recognition of dental health as important for overall health.
For the financial year ended 31 December 2009, Colosseum generated revenues NOK382m, up 19 per cent versus the previous year and an Ebitda of NOK38m.
Trygve Grindheim, partner at IK, says: “We are very excited to partner with Colosseum, Gard and the rest of the management team. The company has successfully grown into a leading player in Scandinavia and this unique position, coupled with the favourable market dynamics, provides an excellent foundation for Colosseum’s future success.”
Lauvsnes adds: “We are very pleased to be partnering with IK. Their support, experience and international reach will prove invaluable to us as we continue to implement our business strategy. I look forward to continuing with the business as we consolidate our position.”
The transaction is subject to customary anti-trust approvals.
Colosseum is the second deal announced by IK this week following the acquisition of a majority stake in Agros Nova, a diversified food and drink company in Poland.
