Industri Kapital is high commended for its investments and exits during 2001. It invested $781.2 million in March in Perstorp, industrial chemical manufacturer, following a withdrawal the previous October when the group announced that profits from its flooring division would be down. With both sides keen to reach an agreement the deal got back on track in 2001 saving Industri Kapital considerable sums on its October 2000 bid of $1.015 billion. That bid had included the flooring division Pergo, which was spun off as a condition of Industri Kapital’s purchase of Perstorp. Industri Kapital also went on to take a 14.3 per cent stake in Pergo valued at $23.4 million last year. Also in March last year Industri Kapital announced it would take a 51 per cent stake in eight Telia Enterprises companies for an undisclosed sum. Unfortunately the $1.02 billion cash bid for Kemira, the Finnish chemicals group, via Industri Kapital’s Dynea investment, failed in December last year due to domestic opposition. This 56 per cent stake, to be bought from the Finnish government, would have been merged with Dynea and another Industri Kapital investee company called Sydsvenska Kemi. Exits in 2001 for Industri Kapital include the sale of 1989 fund’s acquisition of leading Swedish jewelry retailer Guldfynd to Alberkts Guld, the sale of Noviant, an investment from the 1994 fund, to JM Huber Corp, and from the same fund the sale of Addtek, the European leader in precast elements, to CRH, the international building materials group. And from its 1997 fund it sold Kongsberg Automotive, by way of a secondary buyout, to FSN Capital. It also made a less auspicious exit from i-center, the wholesaler of electrical installation equipment, which filed for insolvency in October last year.
Industri Kapital is high commended for its investments and exits during 2001. It invested $781.2 million in March in Perstorp, industrial chemical manufacturer, following a withdrawal the previous October when the group announced that profits from its flooring division would be down. With both sides keen to reach an agreement the deal got back on track in 2001 saving Industri Kapital considerable sums on its October 2000 bid of $1.015 billion. That bid had included the flooring division Pergo, which was spun off as a condition of Industri Kapital’s purchase of Perstorp. Industri Kapital also went on to take a 14.3 per cent stake in Pergo valued at $23.4 million last year. Also in March last year Industri Kapital announced it would take a 51 per cent stake in eight Telia Enterprises companies for an undisclosed sum. Unfortunately the $1.02 billion cash bid for Kemira, the Finnish chemicals group, via Industri Kapital’s Dynea investment, failed in December last year due to domestic opposition. This 56 per cent stake, to be bought from the Finnish government, would have been merged with Dynea and another Industri Kapital investee company called Sydsvenska Kemi. Exits in 2001 for Industri Kapital include the sale of 1989 fund’s acquisition of leading Swedish jewelry retailer Guldfynd to Alberkts Guld, the sale of Noviant, an investment from the 1994 fund, to JM Huber Corp, and from the same fund the sale of Addtek, the European leader in precast elements, to CRH, the international building materials group. And from its 1997 fund it sold Kongsberg Automotive, by way of a secondary buyout, to FSN Capital. It also made a less auspicious exit from i-center, the wholesaler of electrical installation equipment, which filed for insolvency in October last year.
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