FSN Capital has signed an agreement to acquire the insulation manufacturer Skamol A/S and, at the same time,launches an offensive growth strategy for the 100-year-old company. Seller is Polaris Private Equity. Skamol produces a variety of insulation materials which is capable of withstanding high temperatures.
During the last five years, Polaris and the current management have succeeded in raising profitablility in the company significanty as well as strengthening the company strategically. A combination of healthy operation and international opportunities has made Skamol a perfect match for FSN Capital III.
“Skamol is a strong company today with a competent management, unique products and a leading global market position in certain areas. In cooperation with management we can support a strategy focusing on higher growth, both in existing and new segments,” says Partner Thomas Broe-Andersen from FSN Capital.
Skamol’s CEO, Jesper Kirkeby Hansen, is looking forward to the new challenge. He also stresses that the crucial chemistry between the partners has been really good from the beginning.
“Since the very first meeting with FSN Capital, our impression of the private equity fund and the people we now will be working with, has been very good. Their business principles and values command respect, and FSN Capital was quick to understand our business and has shown great care throughout the process,” says Jesper Kirkeby Hansen.
Both the future and previous owner have great respect for management, led by Jesper Kirkeby Hansen.
“Together with a very capable management, we have developed Skamol to be a visible and esteemed international player in the industry,” says senior adviser Viggo Nedergaard Jensen from Polaris Private Equity.
Under the ownership of Polaris, Skamol has undergone significant changes.
“We have concentrated on the three core businesses, expanded internationally through an acquisition of a Russian company, as well as we have sold a number of unprofitable units,” explains Viggo Nedergaard Jensen.
During this period, Jesper Kirkeby Hansen was given responsibility for investments of more than 100 million DKK in new production facilities.
“We have taken necessary measures to raise profitability in the business. Now we look forward to accelerating and focusing on distribution, sales and marketing in the future,” says Jesper Kirkeby Hansen.
This year, Skamol has celebrated its 100th anniversary. High-temperature insulation products from Skamol is used primarily in aluminum, cement and paper industries, but Skamol’s products are also distributed widely for uses in stoves as well as it it used to fight mould fungus. To read more about Skamol, please press here.
Carnegie, Accura, KPMG Transaction Services and COWI have served as advisers for Polaris during the transaction, while Kromann Reumert, Mannheimer Swartling, Deloitte Transaction Services and Bain have served as advisers for FSN Capital.
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