London-based private equity group BC Partners has lost control of Dometic, the Swedish caravans-fittings maker, according to the Independent.
Dometic’s main lenders reportedly finalised the debt-for-equity swap on Friday, and BC lost hold of the company when it lost a vote in which it proposed an alternative plan for the business.
Dometic’s main lenders include Sweden’s Nordea Bank and Japan’s Mizuho financial group. Nordea is believed to have supported BC’s alternative proposal, the report said.
According to the report, BC had broken even on Dometic, making asset sales in recent years.
BC purchased the fittings maker from rival private equity group EQT in 2005.
Copyright © 2009 AltAssets