Procuritas Buys Sandar Projekt

Procuritas Capital Partners II (PCP II) completed its third investment in mid-March, in parallel with its final close (story, page 9). The fund acquired the assets of Sandar Projekt AB, Sweden’s largest painting and decorating contractor, from the receivers for an undisclosed sum. Sandar Projekt, which serves mainly corporate clients and is also active in the flooring and window installation sectors, employs 1,500 people and has an annual turnover of SKr 800 million (ecu 94 million). PCP II, the sole institutional backer, currently owns 100% of the company but will later structure a management incentive package, in line with Procuritas’s customary practice.

The deal took PCP II to around 20% invested.