Nordic exits Swedish vehicle parts maker FinnvedenBulten


news_gear_box_lrgNordic Capital has exited its stake in vehicle parts maker FinnvedenBulten to institutional investors.

The firm parted with almost five million shares corresponding to just over 23 per cent of the Sweden-based business, which makes powertrains, fuel injection and braking systems.

Ulf Rosberg from NC Advisory, which advises Nordic’s funds, said, “It has been an exciting journey since Nordic Capital’s acquisition in 2005.

“After many years of intensive industrial work, the company now has an attractive platform for continued growth. Nordic Capital has great confidence in FinnvedenBulten’s management and board and their ability to continue to develop the company.

“It is very positive to be able to hand over the long-term majority ownership to Volito, which has increased its ownership to over 20%.”

During Nordic Capital’s ownership FinnvedenBulten was consolidated following the divestment of Bufab and Finnveden Powertrain.

The business then expanded organically, improved its geographic presence and was re-listed on NASDAQ OMX Stockholm in May 2011.

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