Process
Sale of Frictape Net Companies to Lagercrantz Group AB
Frictape Net is a world leading supplier of safety products for helidecks. The company has patented and design protected product portfolio including safety nets and lighting systems.The company’s customer base consists mainly of global companies operating in the offshore Oil & Gas industry. Examples of the customers include multinational Oil & Gas companies such as Shell, BP and Exxon, drilling contractors such as Transocean, E&P companies such as ConocoPhillips and EPC contractors such as Saipem.Frictape Net is headquartered in Finland with manufacturing taking place in the company’s factory in Estonia. The company generates annual revenue of approximately 7 MEUR with over 30% EBIT margin.Our main value creation components were
- Initiation of the process coupled with executing a global buyer search and competitive bidding phase
- Managing of full-scope Due Diligence process
- Assisting in deal structuring and negotiations around SPA commercial terms regarding the seller’s representations and warranties
The sellers remain as minority shareholders in the company with slightly under 30% ownership and continue working at the company’s service. The transaction includes a put and call option with which the buyer becomes the 100% owner in four years at the earlies.
Buyer
Lagercrantz Group AB
Lagercrantz Group is a technology group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The Group is comprised of almost 50 companies, each with a focus on a specific sub-market – a niche. High value-creation is common to all the companies, including a high degree of customisation, support, service and other services. Lagercrantz Group is active in nine countries in Northern Europe, in China, India and in the USA. The Group has approximately 1,500 employees and annual revenue of almost MSEK 4,000. The Company is listed on Nasdaq Stockholm since 2001.
Lagercrantz Group ABFrictape Net Companies
