Lakers closed its tenth add-on investment

26

apr 2018

 

On April 13th 2018, MVI Fund I portfolio company Lakers closed its tenth add-on investment, Electro Care. MVI is therefore happy to present you with this transaction update.

 

Investment date: April 13th 2018

Transaction target: Electro Care

Geography: Denmark

Industry:  Service provider with focus on pumps and electrical motors

 

 

Business description

  • Electro Care (”EC”) is one of few independent aftermarket pump service providers in the fragmented Danish market. EC’s operations consist of three sites that are all located on Sjælland. Currently ~50 percent of the sales volume is derived from pumps.
  • EC was owned by five individuals who are all key people within the company. Their professional background is from ABB, and EC still works quite a lot with electrical motors and related industrial equipment. All the sellers have reinvested into Lakers Group as part of the transaction.
  • Growth opportunities are already identified in further increasing the share of revenue derived from pumps and expanding the geographical footprint in Denmark.

 

Key investment highlights

  • Supportive macro-economic backdrop
  • Fragmented market
  • High technical skill level that can benefit remainder of Lakers Group
  • Low single customer dependency

 

Transaction highlights

  • Sales (FY17):                                                  ~SEK60m
  • EBITDA (FY17):                                              ~SEK3.0m

 

For further information please contact:

 

Stefan Karlsson, Partner

Tel: +46 70 601 00 39, e-mail: stefan.karlsson@mvi.se

 

Founded in 1992, MVI is a Swedish private equity group investing in profitable companies in growing markets with significant development potential. The investment team and the MVI network proactively support portfolio companies to maximize their potential to create value. MVI is currently investing from MVI Fund I AB.

 

MVI Fund I AB has invested in three platform companies: Lakers, Great Security and Art Clinic. Lakers is an attractive buy-and-build case within the pump and wastewater industry targeting Nordic aftermarket and service companies. So far, 10 companies have been acquired under Lakers in Denmark, Norway and Sweden. Great Security focuses on security installation and services such as security alarms, fire protection and access control, and has completed 6 acquisitions. Art Clinic is a leading provider of specialist care in Sweden with three state-of-the-art clinics.