Sale of Team Electric to AUCTUS Investment Fund
Team Electric is a global provider of electrical turnkey projects for the cruise and ferry sector. The Company delivers projects for new cruise ship building projects as well as for older cruise ships’ refurbishment projects. Team Electric consisted of five companies headquartered in Finland, operating globally. The estimated revenue for FY2019 is 30 M€. The Company’s contract-based order book was well over 100 M€ at the time of the transaction.
The Company’s strategy is to provide electrical turnkey projects globally, concentrating on project management, collaborative design with the ship architects and ship designers, cost effective procurement directly from manufactures and managing resourcing and staffing through its global organization of Team Electric professionals and subcontractors. Carner advised Team Electric owners throughout the sale process.
Our main value creation components were:
- Initiation of the process and executing a global buyer search supported by IMAP Germany
- Executing a competitive bidding phase
- Organizing transaction financing for the deal
- Assisting in deal structuring and negotiations around SPA commercial terms regarding the seller’s representations and warranties
- Managing of full-scope Due Diligence process
Auctus Investment Fund
AUCTUS is a private equity group specialized in accelerating the growth of German and Global niche companies. It has four funds under management, the total capital of which is over 500 M€. One of AUCTUS’s investment focus is business services companies that are active in rapidly growing niche sectors and are able to achieve a leading Global market position. AUCTUS’s headquarters are located in Münich, Germany.