FSN Capital II has acquired the CTEK / Creator group, a leading manufacturer of advanced battery chargers and provider of product consulting services related to product development.
Established in 1982 in Vikmanshyttan, Sweden, the CTEK / Creator group is a leading global manufacturer of advanced battery chargers and a provider of consulting services related to product development. The CTEK product range addresses the rapidly growing needs for proper battery maintenance driven by (i) more advanced batteries (ii) increasing battery prices and (iii) environmental concerns related to waste from discarded batteries. In 2007, the group had total revenues of approximately SEK240 m.
“The CTEK / Creator group represents a market leader in the advanced battery charger market, underpinned by the strength of its technology, breadth of product offering and strong brand. Having already established itself as a fast-growing, global company, FSN Capital looks forward to supporting the future global growth of the CTEK / Creator group together with its founder and employees, says Peter Möller, Partner at FSN
“We see significant growth opportunities for our product range, both across geographies and applications. FSN Capital, with its strong experience in developing and supporting fast-growing businesses, will represent a very valuable resource to the group going forward, says Bengt Wahlqvist, founder of the CTEK / Creator group.”
Following the acquisition, FSN Capital owns 65% and Bengt Wahlqvist 35% of the CTEK / Creator group.
The investment in the CTEK / Creator group is FSN Capital II’s seventh and last investment. To date, FSN Capital II has invested in VIA Travel (Norway), Alignment Systems (Sweden), Aura Light (Sweden), Norlandia Omsorg (Norway), Teres Medical Group (Norway) and Nautilus Group (Sweden).
FSN Capital has been advised by KPMG (financial, tax and commercial) and Advokatfirman Vinge (legal). The seller has been advised by Foyen Advokatfirma. Debt is provided by Nordea.