Segulah III L.P.’s portfolio company PMC Group has agreed to sell Servi to Ferd Capital. No financial terms were disclosed. Servi is a provider of services for the Norwegian offshore industry.
Stockholm, June 24, 2013
Segulah III L.P.’s portfolio company PMC Group has entered into an agreement to sell Servi to Ferd Capital. The transaction is subject to competition clearance.
Servi’s business activities are focused on the Norwegian offshore industry, with a range of blue chip customers among leading equipment manufacturers, yards and fleet owners.Recently, a sales office was opened in Houston, Texas. With Ferd Capital as a new owner, Servi will be able to fully exploit growth opportunities in the offshore industry globally.
In 2012, Servi had a turnover of MNOK 777 and an EBITDA of MNOK 93.
Ferd Capital is a part of Ferd, a family-owned Norwegian industrial and financial group that is an active and long-term owner of companies with international potential.
After the sale of Servi, PMC Group will have annual revenues of approx. BSEK 2 and consist of companies in Sweden, Denmark, Finland, Poland, China, India and the US.
“We are pleased with this solution, which will allow Servi to continue to invest and grow in the global offshore industry, and also allow PMC Group to continue to develop its different companies,” says Mikael Andersson, CEO of PMC Group.) to Ferd Capital.
Founded in 1994, Segulah is a private equity partnership focused on lower mid market buyouts in the Nordic region, with a business model of active ownership through its extensive network of industrial advisors. Segulah Advisor AB is the exclusive investment advisor to the Segulah II (MSEK 850), Segulah III (MSEK 2,356) and Segulah IV (MSEK 5,200) UK Limited Partnerships.
The funds’ current portfolio of companies includes: PMC Group (hydraulics and pneumatics), S:t Eriks (prefabricated concrete products), Kemetyl (car care and industrial chemicals), Almondy (frozen cakes), Gunnebo Industries (lifting, fastening, traction products, blocks), eTRAVELi (online travel agent), Scan Coin (cash handling equipment and service), Balco (balconies and balcony glazing systems), CCS Healthcare (personal care products) and Beerenberg (maintenance services for the oil and gas industries).