• EQT Opportunity sells TitanX, a leading company in the global truck cooling market

• During EQT Opportunity´s ownership, TitanX has been developed from a carve-out of three factories to a global technology leader in the engine and oil cooling space

Tata AutoComp Systems Ltd (“Tata AutoComp”), EQT Opportunity (“EQT”) and Fouriertransform (“Fourier”) have entered into an agreement whereby Tata AutoComp will acquire TitanX Engine Cooling (“TitanX” or “The Company”).

TitanX is a world leading supplier of powertrain cooling solutions for commercial vehicles. The Company serves most of the western world’s OEMs, including Volvo Trucks, Scania, Iveco and Daimler. TitanX has a yearly turnover of SEK 1.6 billion and manufactures in Sweden, USA, Mexico, Brazil and China.

Tata AutoComp is part of the Tata Group of India, a conglomerate which includes companies such as Jaguar Land Rover in UK and Daewoo Motors in Korea. Tata AutoComp is one of India’s leading vehicle component groups with customers across automotive sectors, from passenger cars to heavy duty trucks and agriculture vehicles.

“Under EQT and Fourier’s ownership, TitanX has developed from a carve-out of three factories to a renowned and leading player in the global truck cooling market” says Magnus Hillestad, Director at EQT Partners and Investment Advisor to EQT Opportunity. “EQT is proud to sell TitanX to Tata AutoComp, a great strategic owner for the continued development and growth of TitanX.”

With Tata AutoComp as a new owner, TitanX will be able to leverage their Asian presence by establishing relationships with the leading commercial vehicle OEMs in Asia as well as working together with Tata AutoComp’s purchasing and R&D departments to drive efficiency and new product innovations.

Nordic Capital announces the sale of COROB to Wise SGR

Nordic Capital Fund VI (“Nordic Capital”) today announces that it has agreed to sell COROB Group, (“COROB”), a leading global provider of advanced tinting equipment to the paints and coatings industry, to WISE SGR S.p.A. (“Wise SGR”). The new owner will continue to support COROB’s growth and strategy.

COROB is a leading global provider of advanced tinting equipment to the paints and coatings industry. Headquartered in San Felice sul Panaro, Italy, COROB has three development and manufacturing sites in Italy, India and Finland and employs approximately 530 employees.

“Nordic Capital acquired COROB as a division of the Finland-based CPS Color in 2008, and separated COROB from the group’s colorant activities in 2013. With support from Nordic Capital, COROB has successfully established itself as a strong global standalone company, focused on delivering innovation to the tinting market and servicing its customers”, commented Christian Gylling, Principal, NC Advisory Oy, advisor to the Nordic Capital Funds and Board member of COROB.

Kaj Brandt, CEO of COROB, commented: “We are pleased with this important step in the history of COROB. Wise SGR is a leading Italian management company of private equity funds with a hands-on attitude and is supportive of our ambitious growth plans. I would like to thank Nordic Capital for their continuous support during the period of their ownership.”

Valentina Franceschini, Partner of Wise SGR commented: “The investment in COROB fits with the strategy of Wise SGR. The tinting equipment niche is one where Italian companies are the most innovative on a global basis. COROB is an Italy based company with an international footprint, and is exposed not just to the growth in the paints and coatings end market but also to the increased penetration of tinting globally.”

The sale is conditional upon normal regulatory approvals. Financial terms of the transaction were not disclosed.

Millington Advisory Partners acted as financial advisor to Nordic Capital in relation to the transaction.

Press contact:

Nordic Capital

Katarina Janerud, Communication Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Wise SGR

Valentina Franceschini, Partner
Wise SGR
Tel: +39 02 8545691
e-mail: vfranceschini@wisesgr.it

Nordic Capital

Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with €3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

COROB

Headquartered in San Felice sul Panaro, Italy, COROB is one of the world’s leading suppliers of advanced tinting equipment for the global paints and coatings industry. COROB offers a complete range of point-of-sales equipment from entry-level to high-performance dispensers, as well as mixers and shakers. In addition, COROB supplies complete In-Plant tinting systems and advanced self-service vending solutions. COROB offering is supported globally by a highly recognized Service Partner network. The company’s commitment is to continue its heritage of building high quality and highly innovative products that create value to its final customers. COROB dedicates a significant part of its resources to improve its products and to develop new solutions for the tinting market. The main development and manufacturing sites are in San Felice in Italy, Daman in India and Ulvila in Finland.

www.corob.com

Wise

Wise SGR S.p.A. specializes in the management of Private Equity closed-end funds, investing in small and medium-sized companies, with a special focus on Italy. The funds managed by Wise are typically involved in leveraged buy-out and capital increase transactions, dedicated to companies that are leaders in their niche markets. The two major objectives are to lead “build-up” transactions, in order to enhance competitiveness and profitability, and to push the international development. Wise, controlled by the management team, from 2000 to today has managed three Funds: Wisequity I, with a commitment of €100 million, completely divested, Wisequity II, with a commitment of €170 million, which is in the process of disinvestment, and Wisequity III, with a commitment of over €180 million and six investments in its portfolio. Wisequity IV, with a commitment of €215 million, was launched in 2016 and the COROB investment will be the first investment from Wisequity IV.

www.wisesgr.it

Procuritas Capital Investors V LP (“PCI V”) invests in SEM AB, a leading Sweden based developer and manufacturer of high precision products based on electromagnetic coil applications.

SEM was founded in 1915 and is one of the world’s leading producers of electronic ignition systems and control systems for combustion engines, including heavy- and medium-duty vehicle engines, natural gas engines and small engines. SEM’s products and systems provide greater engine power and lower fuel consumption while reducing harmful emissions. Intensive development work is being carried out by SEM in order to meet the stricter environmental requirements of the future. The company enjoys an excellent reputation as the market’s global quality leader for electronic ignition systems due to a high degree of specialist knowledge accumulated over 100 years of engineering experience, an extended range of customer services, and a proven track record of successful product innovations. SEM serves a blue chip customer base from two fully invested and state-of-the-art production facilities (one in Sweden, one in China). The company has experienced significant growth over the last number of years.

Global leader in the sports and outdoor industry Thule sold by Nordic Capital

Nordic Capital Fund VII (“Nordic Capital”) has sold its remaining shares in Thule Group AB (“Thule”). Following the sale, Nordic Capital Funds no longer hold any shares in Thule, after a nine year holding period under which Thule has been transformed and developed into a consumer-oriented global leader in products for an active and mobile lifestyle.

“It has been rewarding to follow and support Thule’s journey to the modern and international consumer company it is today. Through support during rough patches and a strategy that has involved both investing in new business areas and divesting others, Thule is now a strong, profitable and established listed company”, says David Samuelson, board member in Thule and Director, NC Advisory AB, advisor to the Nordic Capital Funds.

Nordic Capital Fund VI acquired Thule in 2007 and in November 2014 Thule Group was listed on NASDAQ Stockholm. Under the motto “Active Life, Simplified”, the Thule Group offers products in four product categories:Sport&Cargo Carriers, such as bike carriers and roof boxes,Bags for Electronic Devices,Other Outdoor&Bagsincluding amongst others Sport & Travel Bags and Active with Kids, andWork Gear.

Nordic Capital Fund VI acquired Thule in 2007. During 2007, two larger acquisitions, Case Logic and UWS both located in the US, were made to strengthen the product offering. The global crisis in 2008 led to a focus on profitability improvement. In 2009, a new consumer-oriented strategy with a new global retail concept was introduced, followed by a launch of several new product areas as for example the Thule Crossover bags collection. In 2010 Nordic Capital Fund VII invested in Thule alongside Fund VI. Canadian based Chariot Carriers, one of the world’s leading designers and developers of multi-functional child carriers, was acquired in 2011 to further strengthen the focus on products making it easy for people to transport the things they cherish.

In 2014, the business area Trailer was divested in line with the strategic direction to focus the Thule Group’s business on outdoor and sport products for active consumers. Furthermore, the Towbar division was spun-off to become the separate stand-alone entity Brink Group, allowing both Thule and Brink to continue with full focus on their respective core businesses.

“We would like to thank the management and team of Thule for their hard work and collaboration. This is an example of a company where a combination of investments in product development, a new group structure, and focus on operational improvements have created a global leader that will be able to continue to develop going forward”, concludes David Samuelson.

Contact information:

Nordic Capital
Katarina Janerud, Communication Manager
NC Advisory AB, advisor to the Nordic Capital Funds
tel. +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About Nordic Capital

Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com