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FSN Capital Acquires Skamol from Polaris

Seller is equity fund Polaris Private Equity. Skamol produces a variety of insulation materials which is capable of withstanding high temperatures. During the last five years, Polaris and the current management have succeeded in raising profitability in the company significantly as well as strengthening the company strategically. CEO Jesper Kirkeby Hansen, Skamol A/S stresses that the crucial chemistry between the partners has been really good from the beginning. Under the ownership of Polaris, Skamol has undergone significant changes. “We have concentrated on the three core businesses, expanded internationally through an acquisition of a Russian company, as well as we have sold a number of unprofitable units,“ explains Viggo Nedergaard Jensen, senior adviser from Polaris Private Equity. During this period, Jesper Kirkeby Hansen was given responsibility for investments of more than DKK 100 million in new production facilities. This year, Skamol has celebrated its 100th anniversary. High-temperature insulation products from Skamol are used primarily in aluminium, cement and paper industries, but Skamol’s products are also distributed widely for uses in stoves as well as it it used to fight mould fungus. Carnegie, Accura, KPMG Transaction Services and COWI have served as advisers for Polaris during the transaction, while Kromann Reumert, Mannheimer Swartling, Deloitte Transaction Services and Bain have served as advisers for FSN Capital. Polaris Private Equity is a Danish private equity fund, based in Copenhagen, focusing on buy-out investments in well-established small and mid-cap companies in Denmark and Sweden. Polaris has EUR 635 million under management in two funds. Polaris focuses on investments in companies with development potential and a typical turnover of EUR 25–200 million. To date, Polaris has invested in 28 companies and exited 14. In addition, around 50 successful investments have been made within the portfolio companies. FSN Capital is a leading Nordic private equity investment company focused on the middle-market segment. Originally established in 2000, FSN Capital seeks to make control investments in Nordic companies with significant potential to become international leaders. (12/2012)


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