Nordic Capital, the Swedish mid-market private equity firm, has made a tender offer for shares in Denmark-based company Kompan.
The offer, effective until March 4th, is for DKK1250 per share – a 7 percent premium on the share price on the last day of trading, Friday 28th January – and has a total value of DKK 737 million (€99 million; $129 million). The transaction is subject to an acceptance level of 90 percent.
Kompan is a playground equipment manufacturer based in Ringe, Denmark, listed on the Copenhagen Stock Exchange. The company's board unanimously recommended the offer and said in a statement that Nordic would be 'a good partner for KOMPAN's participation in the restructuring of the industry'.
According to a press release, Nordic intends to delist the company, but will retain its existing management and strategy. The firm said in a statement that it plans to grow the company by developing new products and markets, as well as through organic growth and acquisitions intended to improve its long-term value.
It also said that it would shift the company's production and distribution facilities from Ringe, Denmark and Vetraz-Monthoux, France, to Brno in the Czech Republic.
The offer has already been accepted by 34 percent of the share capital. The main shareholders, LEGO Holding and Kirkbi, and the company's management, who between them own 28 percent of shares, have agreed to the offer; as has the company's board, including founder Tom Lindhardt.
This is the latest investment made from the 2002 vintage €1.5 billion Nordic Capital Fund V. Recent months have seen other deals including its acquisition of car trim maker Plastal, and its SEK1.37 billion investment in Swedish fashion retail chain KappAhl.