Nordic acquisition double

Nordic Capital has announced two investments: one alongside CVC Capital Partners in a confectionary company, the other a one-hander in a medical device company.

Stockholm-based Nordic Capital and London’s CVC Capital Partners have acquired Leaf, the sugar confectionary division of international food ingredients company CSM. The two firms will have joint control of the company, although the size of their investments was not disclosed.
Headquartered in Amsterdam, Leaf sells sweets under brand names such as Läkerol, Malaco, Ahlgrens Bilar and Dietoreele. The company operates 15 European manufacturing plants which make a range of sweets including chewing gum, pastilles, candy and chocolate. It has an annual turnover of €750 million ($1 billion) and employs 4,300 people. Nordic said in a statement that the company’s management would be invited to co-invest.
Nordic has also acquired Swedish medical device company Atos Medical from Fisher Scientific International for $110 million. The company, headquartered in Horby, Sweden, provides treatments for ear and sinus diseases. It has five subsidiaries in Europe and one in the US, and operates a network of distributors in fifty countries. Last year it had revenues of SEK 260 million ($38 million; €29 million).
Toni Weitzberg, a partner at Nordic capital, said in a statement that he felt the company had the potential to grow both organically and through acquisitions.
Nordic Capital is currently investing the 2002 vintage €1.5 billion Nordic Capital Fund V.
CVC is funding investments from CVC European Equity Partners III, a $4 billion 2001 vintage fund. A new fundraising is reportedly underway.