Tag Archives: 2015

Litorina IV invests in Fresks

Litorina IV will be the new majority owner of Fresks, a leading Swedish building material chain in Northern Sweden, focused on professional customers.

Fresks has revenues of SEK 875 million through its 12 stores under the brand XL BYGG Fresks and Gärdin & Pärsson.

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

View the press release from Litorina here

Financial calendar for the financial year 2016/17

Company announcement no 11 2015/16
Copenhagen, 6 January 2016

Financial calendar for the financial year 2016/17
Scandinavian Private Equity A/S expects, during the next financial year ending 31 January 2017, to announce the financial statements on the following dates:

28 April 2016 Annual report for the financial year 2015/16
13 June 2016 Interim report Q1 2016/17
15 September 2016 Interim report H1 2016/17
15 December 2016 Interim report Q3 2016/17

The annual general meeting will be held on Monday 23 May 2016 at 4.00pm. Requests of items to be included on the agenda for the Annual General Meeting must be received by the Company no later than Friday 8 April 2016.

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

Financial Calendar 2016/17

Litorina IV divests Eton

Litorina IV has entered into an agreement to divest its majority investment in Eton, a leader in the global market for premium men’s shirts.

Eton, headquartered in Gånghester outside Borås, Sweden, was founded in 1928 by the Davidson family. The company has stayed true to its focus on men’s shirts throughout its history, branching out only into directly linked accessories. Over the years, Eton has expanded internationally and this year the company will deliver one million shirts to customers across 43 countries with USA being the single largest market.

Litorina IV invested in Eton in 2012.

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

View the press release from Litorina here

Litorina IV invests in CarpetVista

Litorina IV acquires a majority of the shares in CarpetVista, a world leading online retailer within carpets. CarpetVista offers a wide range of more than 35,000 unique carpets, ranging from machine-made to exclusive handmade carpets.

CarpetVista was founded in Malmö 2005 by Hossein Sadr and Ludvig Friberger and has since then grown to a business with more than SEK 200 million in annual sales. The company has so far focused its marketing efforts in Europe and current important markets are Germany, France, the Netherlands and the Nordics.

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

View the press release from Litorina here

Apax Europe VII sells Rhiag

The Funds advised by Apax Partners announced that LKQ Corporation (Nasdaq: LKQ) has signed a definitive agreement to acquire the holding company of Rhiag-Inter Auto Parts Italia S.p.A (“Rhiag”), a leading pan-European business-to-business distributor of aftermarket spare parts for passenger cars and commercial vehicles, for an enterprise value of €1.04 billion. Rhiag has operations in Italy, Czech Republic, Switzerland, Hungary, Romania, Ukraine, Bulgaria, Slovakia, Poland and Spain. Rhiag operates through 247 distribution centers and 10 warehouses, and serves more than 100,000 professional clients.

Apax Europe VII invested in Rhiag in 2013.

SPEAS has made an investment commitment of EUR 30m to the private equity fund Apax Europe VII.

View the press release from Apax here

Litorina IV acquires KungSängen

Litorina IV has signed an agreement to acquire the majority of the shares in KungSängen, a leading Swedish manufacturer and retailer of beds and beds accessories.

The company has an annual turnover of about SEK 300 million and sells more than 30,000 beds through 37 KungSängen stores, a third party retailer in Finland and through its own webstore.

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

View the press release from Litorina here

Interim Report Q3 2015/16

Company announcement no 10 2015/16
Copenhagen, 14 December 2015

Interim Report for the period 1 August 2015 – 31 October 2015
Scandinavian Private Equity A/S (SPEAS) posted a loss for Q3 2015/16 of DKK 3.8m. Equity stood at DKK 633m, corresponding to a book value per share of DKK 14,610. Extraordinary dividend of DKK 1,000 per share.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 August 2015 – 31 October 2015. The Interim Report contains the following highlights:

  • SPEAS recorded a loss of DKK 3.8m for Q3 2015/16 and a profit of DKK 72.5m for the period Q1-Q3 2015/16.
  • Investments in private equity funds resulted in a total negative return of DKK 0.9m in Q3 2015/16 and a return of DKK 78.1m in the period Q1-Q3 2015/16.
  • Investments in private equity funds amounted to DKK 626m, or 99% of net assets.
  • In Q3 2015/16 SPEAS contributed DKK 3.1m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 90.9m as proceeds from exits, recapitalisations, etc.
  • Ordinary dividend of DKK 1,500 per share was distributed on 3 June 2015, and extraordinary dividend of DKK 1,500 per share was distributed on 31 July 2015 and DKK 2,000 per share on 6 October 2015. Since the beginning of the financial year, SPEAS has distributed total dividend of DKK 217m.
  • The Board of Directors has resolved to distribute extraordinary dividend of DKK 1,000 per share. Dividend will be distributed on 21 December 2015, and the SPEAS share will be traded excluding dividend as from Thursday 17 December 2015.
  • At 31 October 2015, equity stood at DKK 633m, corresponding to a book value per share of DKK 14,610.
  • SPEAS recorded a negative return on equity of 0.6% in Q3 2015/16 and a return on equity of 9.8% in the period Q1-Q3 2015/16.
  • Based on achieved investment results, forecasts for this financial year still include a return on equity that exceeds the long-term expectations of a return on equity of 8-9% 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

2015/16 Q3

EQT V, Scandic IPO

Scandic Hotels Group AB, an EQT V portfolio company, has started trading on Nasdaq Stockholm.

Scandic, founded in 1963, is the largest Nordic hotel operator with an unrivalled network in the Nordic region and selective coverage in Germany, Poland and Belgium. In total Scandic’s network encompasses 224 hotels and almost 42,000 hotel rooms in seven countries.

EQT V acquired Scandic in 2007.

SPEAS has made an investment commitment of EUR 40m to the private equity fund EQT V.

View the press releases from Scandic here

EQT V, Dometic IPO

Dometic Group AB, an EQT V portfolio company, has started trading on Nasdaq Stockholm.

Dometic provides branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. The Company manufactures and sells a broad range of products within these areas for use in recreational vehicles (such as motorhomes and caravans or towables), trucks and premium cars, pleasure and work boats, and for a variety of other uses. Products include air conditioners, furnaces, awnings, vents and windows & doors within Climate; water heaters and toilets within Hygiene & Sanitation; and refrigerators, cooking equipment, ovens and mobile coolers within Food & Beverage.

EQT V acquired Dometic in 2011.

SPEAS has made an investment commitment of EUR 40m to the private equity fund EQT V.

View the press releases from Dometic here

Norvestor VI invests in Phonero

Norvestor VI has invested in Phonero AS, a privately owned mobile virtual network operator providing telecommunication services to small and medium sized businesses. The company is headquartered in Kristiansand, with regional offices in Oslo, Stavanger, Bergen and Trondheim.

Phonero had pro-forma revenues of NOK 1,041 million in 2014, and has 195 employees.

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

View the press release from Norvestor here