Nordic Capital has signed an agreement to acquire the business unit Consilium Marine & Safety, one of the world’s largest producers of safety and safety-related technologies, within fire and gas detection, for the marine, oil and gas, transport and building sectors, from Consilium AB (publ) for an enterprise value of SEK3 000 million on a cash and debt free basis.
In partnership with the management team, Nordic Capital will support Consilium Marine & Safety’s continued growth as a strong new independent company and further strengthen the Company’s strong position and service offering by investing in R&D, Commercial Excellence and M&A.
Consilium Marine & Safety’s product range includes fire & gas detection systems, as well as solutions within safety management and emission monitoring, for the marine, oil and gas, transport and building sectors. Consilium Marine & Safety, headquartered in Gothenburg, Sweden, has a global presence with 50 sales offices located across 25 countries, annual revenues of SEK 1,551 mn, EBITDA of SEK240 million (LTM as per September 2019), and c. 850 employees.
Nordic Capital is well equipped to support Consilium Marine & Safety’s continued development and growth strategy by leveraging its deep sector expertise combined with its operational and financial resources. Nordic Capital has extensive expertise of investing in Industrial & Business Services companies, deploying more than EUR3.5 billion in 38 platform investments to date including current portfolio companies iLOQ and Ryds Bilglas as well as former portfolio company Marioff, a world leading fire protection system supplier for the Marine segment.
“Nordic Capital is a highly experienced investor with a long history of growing sustainable businesses. We believe it to be an ideal partner to support Consilium Marine & Safety´s continued growth strategy, reinforcing the company’s position as a global leading supplier of products and systems that are used to protect lives, material values and the environment,” says Ove Hansson, President and CEO of Consilium AB (publ).
“Nordic Capital is very excited to work together with the management team to invest and further accelerate the growth and development of Consilium Marine & Safety. It is a good fit with our investment strategy within the Industrial & Business Service sector. The Company holds strong positions within the highly attractive safety niche, supported by stable and positive underlying market trends, a strong growth momentum and a high and increasing share of recurring aftermarket revenues. There is a clear value in establishing a new stand-alone Company, fully focused on putting safety first for its customers and thereby solidifying its strong position in the growing market for safety solutions. We have followed the Company’s development for a long period of time and are very impressed by the Company and the competence and commitment of the employees,” says Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors.
The transaction is subject to a) customary regulatory approvals, and b) an approval of the proposed transaction at an Extraordinary General Meeting in Consilium AB. The Board of Consilium AB has announced their recommendation to the proposed transaction.
Consilium Marine & Safety will continue under its current name, as Nordic Capital will acquire the brand “Consilium” as part of the transaction.
