Procuritas acquires 100% of the shares in H+H Fiboment A
Press Release, Copenhagen
Procuritas Capital Investors III and consortium partners acquire 100% of the shares in the leading Danish producer of light concrete wall elements, H+H Fiboment A/S. Following the acquisition, the company is called EXPAN A/S. EXPAN A/S has an annual turnover in excess of MDKK 500 and the company employs 530 people at eight factories in Denmark and Germany.
The acquisition takes place through a consortium led by Procuritas Capital Investors III with H+H Fiboment’s management team as joint owners. The consortium acquires H+H Fiboment from the two building material companies, H+H International A/S and Euroc Beton Holding A/S, who have owned the company on a 50-50 basis since 2000. FIH Erhvervsbank arranged and funded debt financing for the transaction.
Following the acquisition, H+H Fiboment A/S’s new name will be EXPAN A/S. The new EXPAN A/S is Denmark’s largest producer and preferred supplier of concrete wall elements and deck elements in both light and heavy concrete.
“We are impressed with the new EXPAN’s ability to serve customers efficiently and diligently all over Denmark. EXPAN is the market leader”, says Senior Partner Lars Krogsgaard of Procuritas Partners A/S who acted as lead advisor to the purchasing consortium. “We see many opportunities to develop the company further in the years to come and we have the capital to entertain value enhancing investments in EXPAN. Furthermore we trust that the company will benefit from the active ownership of Procuritas Capital Investors III”.
The CEO of EXPAN, Poul B. Kirkegaard, becomes a co-owner of the company along with other members of the management team.
“This is the best solution for Fiboment, the new EXPAN and its employees. We will strongly benefit from having an active owner such as Procuritas Capital Investors III and we are set to continue the positive trend of the last thee years”, he says.
Procuritas Capital Investors III is a private equity fund with more than 20 international and Nordic investors. The fund’s committed capital is EUR 230 m and it is advised by Procuritas Partners A/S.
Procuritas Partners A/S is a Scandinavian private equity house that specializes in initiating, structuring, and financing management buyouts. Founded in 1986, the company was the pioneer in introducing the concept of management buyouts in the Nordic region. The firm acts as exclusive advisor to three private equity funds with a total capital in excess of EUR 300 m.
More information about Procuritas can be found on www.procuritas.dk.
Poul Kirkegaard, CEO, EXPAN A/S (+45 76 60 23 00)
Lars Krogsgaard, Senior Partner, Procuritas Partners A/S (+45 33 91 87 00)