Procuritas Capital Partners II sells Scandinavian Garment Service A/S to Danzas
Press Release
Procuritas Capital Partners II (“PCPII”), a fund specialised in managementbuyouts in the Nordic countries, announced today that is has sold Scandinavian Garment Service A/S (“SGS”) to Danzas group, the world’s leading provider of logistics solutions. SGS is part of NSG Logisitics AB, which PCPII acquired in a buyout from BTL in 1998. NSG Logistics AB also entails Scanvan Group AB (Adams Transport A/S, Kungsholms Express & Spedition, FlytteService AS and Majortrans Norge AS) and Vehicle Logistic (Skandiatransport and Göteborgs PDI).
SGS is a leading provider of garment and fashion logistics solutions with strong presence in all of the Nordic countries and the Baltics with sales of EUR 31 million and 300 employees. SGS is part of the Faxion Network in which Danzas is the Pan-European partner. As part of the Danzas group, SGS can continue its positive development.
PCPII – a buyout fund – was established in 1997 with a capital base of about EUR 110 million. Investors in PCPII include Danske civil- og akademiingeniørers Pensionskasse (DIP), Danske Bank, Statoil, Sampo, Pohjola, Länsforsäkringar, Verizon, INVESCO, Norsk Hydro, Nordbanken’s Pension Fund, Sparbanken NOR and Praktikerinvest.
Procuritas Partners KB (”PPKB”) acts as adviser to PCPII. Since its establishment in 1986, the Procuritas group has acted as adviser in a total of 15 buyouts in the Nordic region, with a total acquisition price in excess of EUR 1 billion.
Procuritas is in the process of raising its third management buyout fund, PCI III. The fund has a target size of EUR 300 million. In accordance with the proven investment strategy of the two previous funds, PCI III will invest in management buyouts in the Nordic region. First closing is scheduled for mid-December 2001.
For further information, please contact:
Peter Toyberg, Procuritas Capital Partners II phone: +44 1481 716 069
Lars Krogsgaard, Senior Partner, Procuritas Partners KB phone: +45 33 91 87 00