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Industri Kapital closes Industri Kapital 2007 Fund with commitments of EUR1.675bn

Industri Kapital, a mid-market private equity firm focused on investing in the Nordic region and in continental Europe, has closed its sixth fund, the Industri Kapital 2007 Fund, with tota

Industri Kapital, a mid-market private equity firm focused on investing in the Nordic region and in continental Europe, has closed its sixth fund, the Industri Kapital 2007 Fund, with total commitments of EUR1.675bn, more than double the level of its predecessor, the Industri Kapital 2004 Fund. UBS acted as global placement agent and SJ Berwin was legal counsel to the new fund.

The 2007 Fund received strong support from both existing and new investors among endowments and pension funds, insurance companies and funds of funds located in the UK, continental Europe, Scandinavia and North America, including Pantheon Ventures, Standard Life, HarbourVest, bcIMC, Skandia, SVG, Partners Group, Länsförsäkringar, Varma, Metlife, NYSTRS, Tapiola and AIG.

The 2007 Fund will continue to execute the same industrial development strategy deployed in previous Industri Kapital funds. The fund will seek majority investments in market-leading medium-sized companies in growing and mature industries in the Benelux countries, Denmark, Finland, France, Germany, Norway and Sweden.

Over the past 12 months Industri Kapital has made four investments and 10 exits generating around EUR1.8bn for investors. During the fundraising period the firm’s investments have included Magotteaux, a Belgian-based supplier of grinding media and castings used in the cement, mining, aggregate and dredging industries and utility companies, and Moventas, an independent manufacturer of industrial and wind turbine gears and provider of gear maintenance and service based in Finland.

Its recent exits include DYWIDAG-Systems International, a leader in the development, manufacture and supply of post-tensioning and geotechnical systems to the construction and mining industries, based in Germany, France’s CEVA Santé Animale, the world’s 10th largest veterinary laboratory, and Prevesta, Sweden’s leading producer of prefabricated houses.

‘We are pleased with the high level of support we have received from our existing investors who have chosen to continue to invest with us, making it possible to allocate the Industri Kapital 2007 Fund in just three months,’ says chairman and chief executive Björn Savén.

‘We are also grateful for the vote of confidence shown by the new investors who have joined our fund. We will remain focused on our strategy and firmly believe that this strategy will allow us to continue delivering strong returns to our investors. With the new fund, IK is well equipped to continue to play a leading role in the European private equity market.’

Since 1989, Industri Kapital has raised a total of EUR5.7bn and acquired 64 European companies. The current portfolio encompasses 19 companies with total turnover of nearly EUR6.5bn.

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