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Silverfleet Capital acquires majority stake in camera maker Phase One

18 Feb 2014

camera3_lrgEuropean private equity firm Silverfleet Capital has acquired a majority stake in Danish digital camera and image processing software maker Phase One.

Phase One designs and manufactures medium format cameras for professional photographers and advanced amateurs and makes software for processing raw images. It also has an industrial division supplying camera systems, predominantly for aerial photography.

Financial details for the deal were not disclosed, however the company recorded yearly sales figures of DKK425 (€60m).

Silverfleet will buy the stake from Phase One’s management team, which will reinvest a significant amount of money for a substantial minority stake, the firm said in a statement. The firm said it plans to grow the business via new product launches, additional marketing and bolt-on deals.

Silverfleet partner Gareth Whiley said, “Phase One is a world class company with unrivaled products and an excellent management team. We are excited to be able to partner with Henrik and his team to further develop this highly successful business and brand.”

Silverfleet has been an active investor in the Nordic region and Phase One is its second Danish transaction in a year, having acquired Cimbria, one of the largest global manufacturers of seed and grain processing equipment, in April 2013.

The firm’s other recent deals include the acquisition of a majority stake in call centre company Competence Call Center Holding from French private equity firm Ardian.

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