Tag Archives: 2014

Litorina III divests Cederroth

Litorina III has entered into an agreement to divest its holding in Cederroth to Orkla Home & Personal.

Litorina invested in Cederroth together with CapMan Buyout in 2008. Cederroth manufactures and distributes a wide range of products within the personal care, healthcare, wound care, household and first aid segments. The company has a portfolio of well-established brands such as LdB, Asan, Bliw, hth, Salvequick, LongoVital, Multiplex, Samarin, Allévo and Grumme. Cederroth operates in Sweden, Finland, Denmark, Norway, Poland and Spain. The company employs 850 people and achieved a turnover of approximately EUR 210 million in 2013.

SPEAS has made an investment commitment of SEK 100m to the private equity fund Litorina III.

View the press release from Litorina here

Financial calendar for the financial year 2015/16

Company announcement no 13 2014/15
Copenhagen, 13 January 2015



Financial calendar for the financial year 2015/16
Scandinavian Private Equity A/S (SPEAS) expects, during the next financial year ending 31 January 2016, to announce the financial statements on the following dates:

28 April 2015 Annual report for the financial year
1 February 2014 – 31 January 2015
17 June 2015 Interim report, Q1
1 February 2015 – 30 April 2015
29 September 2015 Interim report, H1
1 February 2015 – 31 July 2015
14 December 2015 Interim report, Q3
1 August 2015 – 31 October 2015

The annual general meeting will be held on Friday 29 May 2015 at 2.00pm. Requests of items to be included on the agenda for the Annual General Meeting must be received by the Company no later than Thursday 16 April 2015.

For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2014 13 150113 Financial Calendar

Interim Report Q3 2014/15

Company announcement no 12 2014/15
Copenhagen, 17 December 2014



Interim Report for the period 1 August 2014 – 31 October 2014
Scandinavian Private Equity A/S (SPEAS) recorded a profit for Q3 2014/15 of DKK 42.6m. Equity stood at DKK 828m, corresponding to a book value per share of DKK 18,960. Extraordinary dividend of DKK 1,400 per share.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 August 2014 – 31 October 2014. The Interim Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 44.5m. Less costs incurred of DKK 0.7m, depreciation and amortisation of DKK 0.5m and net financial expenses of DKK 0.6m, net profit for the period came to DKK 42.6m.
  • Investments in private equity funds amounted to DKK 747m, or 90% of net assets.
  • In Q3 2014/15 SPEAS contributed DKK 17.8m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 68.9m as proceeds from exits, recapitalisation, etc.
  • Dividend of DKK 1,500 per share, equal to a total of DKK 66m, was distributed in September.
  • The Board of Directors has resolved to distribute extraordinary dividend of DKK 1,400 per share. Dividend will be distributed on 23 December 2014, and the SPEAS share will be traded excluding dividend as from Friday 19 December 2014.
  • Equity stood at DKK 828m at 31 October 2014, equal to a book value per share of DKK 18,960 against a quoted price of DKK 16,480 as at the same date.
  • In Q3 2014/15 the return on equity was 5.0%, and in the period Q1-Q3 2014/15 the return on equity was 9.8%.
  • Given the Company’s current asset allocation, return expectations are equivalent to a long-term return on equity of 7-8% pa. Based on achieved investment results, forecasts for this financial year now include a return on equity that exceeds the long-term return expectations. Full-year results will depend on the development in financial markets.

For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2014 12 141217 Q3 UK

IK 2007 to sell EPiServer

The IK 2007 Fund has reached an agreement to sell EPiServer, a leading provider of digital marketing and e-commerce solutions.

Following the IK 2007 Fund’s acquisition of EPiServer in 2010, the Company has successfully continued to focus on international expansion, opening up new offices in the United States and Europe and strengthening its position globally. EPiServer has almost doubled its revenues with remained high profit margins over the last five years.

SPEAS has made an investment commitment of EUR 25m to the private equity fund IK 2007.

View the press release from IK Investment Partners here

EQT VI acquires Siemens Audiology Solutions

EQT VI has entered into an agreement to acquire Siemens Audiology Solutions, a leading global manufacturer of hearing aids acknowledged for its innovative and high-quality products, from Siemens AG. Siemens Audiology Solutions is headquartered in Singapore and employs approximately 5,000 people worldwide.

SPEAS has made an investment commitment of EUR 10m to the private equity fund EQT VI.

View the press release from EQT here

Litorina IV invests in Leo’s Lekland

Litorina IV will be the new majority owner of Leo’s Lekland, the Nordic region’s largest play centre chain. Leo’s Lekland was founded in Luleå, Sweden, in 2006 and the company currently operates thirteen play centres in Sweden, nine in Norway and one in Denmark, and is poised for further expansion in the Nordic region.

SPEAS has made an investment commitment of SEK 46m to the private equity fund Litorina IV.

View the press release from Litorina here

Litorina III divests Textilia

Litorina has entered into an agreement to divest its holding in Textilia, the leading textile services provider to the healthcare sector in Sweden. Litorina III acquired Textilia in 2008 and during Litorina’s holding period, the company has established its leading position on the Swedish market for textile services as well as completed add-on acquisitions, widened its customer base and strengthened its organisation.

SPEAS has made an investment commitment of SEK 100m to the private equity fund Litorina III.

View the press release from Litorina here

Norvestor VI invests in PG Marine Group

Norvestor VI has signed an agreement to invest in PG Marine Group, one of the leading providers of offshore oil & gas pump systems and solutions, with a global market leader position within flow systems for offshore service vessels. The Company had revenues of NOK 552 million in 2013.

SPEAS has made an investment commitment of NOK 80m to the private equity fund Norvestor VI.

View the press release from Norvestor here

Interim Report H1 2014/15

Company announcement no 11 2014/15
Copenhagen, 22 September 2014



Interim Report for the period 1 February 2014 – 31 July 2014
Scandinavian Private Equity A/S (SPEAS) recorded a profit for H1 2014/15 of DKK 46.4m. Equity stood at DKK 860m, corresponding to a book value per share of DKK 19,474. Extraordinary dividend of DKK 1,500 per share to be distributed.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 February 2014 – 31 July 2014. The Interim Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 50.7m. Less costs incurred of DKK 2.1m, depreciation and amortisation of DKK 1.8m and net financial expenses of DKK 0.4m, net profit for the period came to DKK 46.4m.
  • Investments in private equity funds amounted to DKK 754m, or 88% of net assets.
  • In H1 2014/15, SPEAS completed the divestment of its investment commitments to IK VII, which originally amounted to EUR 10m., without impact on net profit.
  • In H1 2014/15 SPEAS contributed DKK 22.7m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 59.7m as proceeds from exits, recapitalisation, the sale of the investment in IK VII, etc.
  • Early June 2014, a dividend of DKK 2,800 per share, equal to a total of DKK 124m, were distributed.
  • The Board of Directors has decided to distribute an extraordinary dividend of DKK 1,500 per share. The dividend is payable on 29 September 2014, and the SPEAS share will trade ex-dividend as of Wednesday 24 September 2014.
  • Equity stood at DKK 860m at 31 July 2014, equal to a book value per share of DKK 19,474 against a quoted price of DKK 18,210 as at the same date. The book value per share increased by 5.2% in the financial period.
  • Given the Company’s current asset allocation, return expectations are equivalent to a long-term return on equity of 7-8% pa. Full-year results will depend on the development in financial markets.

For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2014 11 140922 H1 UK

EQT VI acquires Evidensia Djursjukvård AB

EQT VI has entered into an agreement to acquire a majority stake in Evidensia Djursjukvård AB, the largest veterinarian services provider in the Nordics with approximately 90 clinics and hospitals. The Company treats more than 700,000 animals annually and is also the leading operator for education and referrals. Evidensia has approximately 1,500 employees of which around 500 are veterinarians. Sales for 2014 are estimated to be around SEK 1.4 billion.

SPEAS has made an investment commitment of EUR 10m to the private equity fund EQT VI.

View the press release from EQT here