Perusa Partners Fund 2, LP sells SEM Group to Procuritas Capital Investors V LP
Guernsey / Munich – Perusa Partners Fund 2, LP sells Swedish SEM Group to Procuritas Capital Investors V LP. Perusa Partners acquired SEM in 2012 and thus has strengthened SEM’s operational capabilities in a challenging market environment and implemented sustainable production processes and costs structures that are considered best in class within the industry. During the last three years, the company increased its revenues by 30% to c. 35 million EUR while doubling its profits to c. 8 million EUR. The parties have agreed not to disclose the purchase price.
SEM was founded in 1915 and is nowadays one of the world’s leading producers of electronic ignition and control systems for combustion engines, including heavy- and medium-duty vehicle engines, natural gas engines and small engines for handheld equipment. SEM serves its blue chip customer base from two state-of-the-art production facilities in Sweden and China with a total staff of c. 220.
“Benefiting from our experienced and motivated staff in Sweden and China as well as Perusa’s active involvement, we have been able to develop SEM into a dynamic and highly profitable company which operates very successfully in the attractive and growing markets for electronic ignition and control systems for combustion engines”, says Tom Gustavsson, CEO of SEM AB.
Dr. Hanno Schmidt-Gothan, Partner at Perusa GmbH and advisor to Perusa Partners Fund 2 LP, adds: “We believe that with the established technological and operational capabilities, SEM is well placed to benefit from stricter environmental and fuel economy requirements in the future.”
He adds: “Besides strengthening the technological portfolio, during Perusa’s ownership, the Chinese facility developed from a pure production plant to a full-fledged company, with its own sales force and engineering capabilities. Also, in Sweden, productivity has been increased by more than 20% through systematic performance improvement.”
With SEM, Perusa executes the first exit within its Nordic investment portfolio, which it had started to build in 2011 by the acquisition of Dynasafe International AB. Building on its knowledge of the local market, Perusa expanded its Nordic footprint.
About Perusa Partners Fund 2
Perusa Partners Fund 2, LP invests in medium-sized companies and in carve-outs of business segments within larger corporations in German-speaking Europe as well as in the Nordic region. The fund is advised by Perusa GmbH.
Perusa is an independent capital holding company, which currently has two funds with 350 million euro equity investing in medium-sized companies and Group divisions in the German or Scandinavian area. Perusa is pursuing a strong operational approach to increase the efficiency and thus the long-term value as well as the potential of the portfolio companies. Strategic acquisitions (buy and build strategy) are also striving to strengthen the growth of the portfolio companies.
Dr. Hanno Schmidt-Gothan
Telefon: +49 89 2388789-0
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