On June 1 st, 2011, FSN Capital LP II signed a definitive agreement to sell the CTEK / Creator group, a leading manufacturer of advanced battery chargers and provider of consulting services related to product development, to Altor.
Established in 1982 in Vikmanshyttan, Sweden, the CTEK/Creator group is a manufacturer of advanced battery chargers, sold under the “CTEK” brand, and a provider of consulting services related to product development.
Since the investment by FSN Capital LP II in April 2008, CTEK has increased its sales volumes by 60%+. Despite having made significant investments in sales & marketing, R&D and the overall organization, the EBITDA of CTEK has during the same period increased by 83%, corresponding to a CAGR of 22%.
“During our ownership period, CTEK has solidified its position as a leading global manufacturer of advanced battery chargers. We believe that the work that has been done in terms of taking the company from a founder-driven business to an institutionalized and therefore scalable company, whilst also investing heavily in sales & marketing and R&D, has set the CTEK / Creator group up for continued strong growth in the future”, says Peter Möller, Partner at FSN Capital.
FSN Capital has been advised by Carnegie Investment Bank, Advokatfirman Vinge and KPMG.