The AFS business has experienced substantial growth, and including the latest acquisition, Aktiv Kapital’s AFS business, the Company has an annual turnover of more than NOK 500 million and an expected EBITDA of approx. NOK 200 million in 2008. The shares were acquired for a total consideration of NOK 910 million. Trond Kristian Andreassen, CEO of Gothia, says “Gothia expects continued strong growth and we are looking forward to co-operate with Herkules to achieve our goals”.
Olav Dalen Zahl, CEO of Gothia Financial Group ASA, says that “Herkules is a professional and solid owner with the right capabilities to grow the AFS-business further, in existing and new markets. Therefore a sale to Herkules was more attractive than an IPO at a later stage. We also appreciate that it is a Norwegian owner that acquires the AFS business”
“Herkules is very satisfied with the acquisition of Gothia. We see Gothia as a high growth company, with several opportunities, especially in the Nordic region, but also in other European countries” says partner of Herkules Capital Morten Blix. “Gothias organic growth has been impressive at the same time as Gothia successfully has acquired substantial businesses” says Morten Blix.
Herkules is the largest Norwegian Private Equity firm. Herkules has the financial strength to establish a strong ownership position in established companies with growth potential. Companies owned by Herkules I are: Pronova BioPharma, Noratel, Handicare, European Beds, D&F Group. Companies owned by Herkules II are: Nille, Micro Matic Norge, Nordic Interior Group, Hatteland Display, EFG European Furniture Group, Aibel, Network Electronics. Maarud/Estrella will be part of Fund II after closing.
Gothia Financial Group ASA is owned by 190 shareholders, the five largest are Valset Invest AS (Jon H. Nordbrekken), JSM Capital (Martin Jönsson), Rasmussengruppen AS, Bryn Invest AS and Odin Norden.
Contact:
Partner of Herkules Capital AS: Morten Blix
Mobile: + 47 92 80 18 24
www.herkulescapital.no