Segulah, a Nordic private equity firm, has bought Scan Coin AB, a Malmo-based automatic coin and bank note processing company. The Ovin family, which has owned Scan Coin since 1986, will retain a 30 percent stake in the company. The other details of the deal were not released.
Segulah IV L.P. has entered into a binding agreement to acquire Scan Coin AB, a Malmö-based com-pany that is a global leader in automatic coin and bank note processing.
Scan Coin, which was founded in 1966 by the entrepreneur Gunnar Sandberg, is owned by the Ovin family. The family, which has owned Scan Coin since 1986, will remain as owners of 30 % of the com-pany subsequent to Segulah’s acquisition.
By developing and producing a number of advanced and innovative products, Scan Coin has built up a large circle of loyal customers that includes banks, cash-in-transit companies and bus service operators all over the world.
In recent years the company has also started providing the retail sector with solutions for efficient cash handling.
With the help of both software and hardware, Scan Coin has, among other things, developed solutions that make it possible to recirculate cash locally, something that is expected to become increasingly im-portant in the future. Local recirculation involves a supermarket, for example, being able to reuse cash received from consumers.
Recirculation requires, among other things, local authenticity control and quality assurance, something which Scan Coin can now offer its customers.
After Segulah’s acquisition has been completed, Lars Brodd will be appointed as the new Chairman of Scan Coin.
“Scan Coin is a first-class Swedish export company with excellent products. I can see huge development potential and I am looking forward to taking on the position”, says Lars Brodd.
“With Segulah as its new main owner, Scan Coin will have the necessary resources for exploiting the potential on the market. It is exciting, important and good for the future of the company”, says Rickard Ovin, current Chairman of Scan Coin.
“We are very pleased about this transaction and that we together with the Ovin family and the employees will have the opportunity to make Scan Coin even more successful”, Sebastian Ehrnrooth, Segulah Advisor AB, confirms.
The acquisition is subject to approval from relevant competition authorities, and closing is expected to take place in November.
Segulah is a private equity firm that specializes in the acquisition of medium-sized companies in the Nordic region. The business model is based on majority ownership and active commitment from expert industrial advisers. Segulah Advisor AB is exclusive investment adviser to Segulah II (MSEK 850), Segulah III (MSEK 2.350) and Segulah IV (MSEK 5.200) Limited Partnerships. The funds’ current portfolio of companies includes InfoCare (installation and repair services for electronic products), PMC Group (industrial hydraulics), S:t Eriks (prefabricated concrete products), Kemetyl (car care, hygiene and industrial products), Exotic Snacks (natural snacks), Almondy (frozen cakes), SKT (pressure sewage systems), Gunnebo Industries (lifting and fastening systems, block systems and tyre chains), Medstop (pharmacy chain) and eTRAVELi (online travel agent). Stockholm October 13, 2010
For further information, please visit www.segulah.se, www.scancoin.com or contact:
Lars Brodd, new Chairman Scan Coin, Cell: +46 (0)70 585 47 79
Sebastian Ehrnrooth, Partner Segulah Advisor AB, Cell: +46 (0)73 360 42 05, email@example.com
Rickard Ovin, current Chairman Scan Coin, Tel.: +46 (0)40 600 0600, firstname.lastname@example.org