PRINT THIS PAGE IK exits investment in Sydsvenska Kemi19/10/2005. Source: AltAssets. 
 Industri Kapital, a European private equity firm with Nordic roots, has agreed to sell Sydsvenska Kemi, the holding company of speciality chemicals group Perstorp, to PAI partners.
The Perstorp Group had annual sales of SEK6.5bn (about €687m) in 2004. It currently employs around 1,600 people. The Group has manufacturing operations in eight countries in Europe, North America and Asia.
IK took Perstorp private in June 2001. During IK's ownership, a number of non-core assets have been divested and Perstorp has made several strategic add-on acquisitions globally including the acquisition of Neste Oxo, Finland (2001) and the feed additive company Franklin Holding B.V. (2004). Perstorp has also entered into strategic joint venture agreements in South Korea and Japan.
Michael Rosenlew, partner at IK, said, 'This has been a good investment for IK, and yet another example of our dedication to building best-in-class companies and improving operational performance. We have worked alongside a strong and dedicated management team to focus the business, achieve operational excellence and grow the company organically and through selective strategic add-on acquisitions.'
Bertrand Meunier, senior partner at PAI, added, 'We are very excited with this transaction. Perstorp is a global leading company with an excellent team and a widely recognised technological edge. We fully support the company's growth strategy.'
IK manages close to €4bn in fund commitments. The current portfolio encompasses 25 companies with a total turnover of approximately €9.7b. The firm invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in mature industries with fundamental underlying growth.
PAI manages and advises buy-out funds with an aggregate equity value of over €7bn. Acquisitions have included Antargaz, an LPG distributor in France (€520m); Chr. Hansen, a specialist in natural ingredients to the food industry (€1.1bn); and Kwik-Fit, the European automotive fast-fit services provider (€1.2bn).
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