IK acquired Hansa Group, which operates in Germany, Switzerland and Austria, two years ago via its IK2007 Fund.
The sale, alongside the previous exit of in KWC in April, yielded a 2.7x return for IK, along with a 42 per cent IRR, according to a source with knowledge of the deal.
IK managing partner Detlef Dinsel said, “The sale of Hansa marks the full exit of Hansa Group by IK to two strong strategic partners – Oras and Franke. We are pleased to have successfully restructured Hansa and improved its competitive position and profitability.
“Together Hansa and Oras will be a strong panEuropean market leader which is ready to expand further in international markets and reach the next level. We would like to thank the Hansa management team and employees for their efforts and professionalism and wish them all the best for the future.
Back in July IK agreed to acquire a majority stake in Ampelmann, a Netherlands-based supplier of motion compensated gangway technology to the offshore energy sector.
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