Norwegian buyout firm Ferd Private Equity has bought Jakob Hatteland Display, a Norwegian marine display and panel computer producer.
The company will acquire a 90 percent stake sit in Hatteland through its second buyout fund (FPEFII), while the company’s chief executive Knut Vidar Lauritsen will retain the other 10 percent of the company’s shares.
Financial details were not disclosed, but Hatteland, which is headquartered near Haugesund in Norway, had revenues of approximately €34 million ($45 million) in 2006. The company has about 110 employees.
Ferd managing partner Gert Munthe said: “Hatteland Display has through its products and its strong focus on knowledge and quality gained a solid position within monitors in the maritime sector. We see potential for further growth, and hence the company fits well into our investment strategy.”
FPEFII is Norway’s largest investment fund with €523 million from international and European investors. Ferd is currently in the process of buying Festival, a wholesale business.
Ferd Equity Partners is headed by Gert Munthe, Morten Blix and Tore Rynning-Nielsen.