3i invests in HTC to drive further growth
3i, Europe’s leading private equity and venture capital company, has invested in HTC Sweden AB, taking a stake of one third in the company. 3i has committed circa €11 million (SEK 100 million) to the company along with a purchase of shares from existing shareholders. The increase in capital will be used to fuel HTC’s further expansion.
HTC produces and sells a diamond-based grinding system for professional flooring in manufacturing, commercial and public buildings. The company has expanded continuously since 1987 and has been the market leader in Europe and the US in its niche during the last ten years. HTC, based in Söderköping, Sweden, forecasts a turnover of circa €33million (SEK 300 million) for 2006.
Henrik Flygar, Director, 3i Nordic, says: ”HTC is a profitable and fast growing family owned company. The business has grown more than 50 % annually in the past two years and we are convinced that there is still plenty of growth potential. 3i will actively work with HTC, both in Sweden and internationally, to drive further expansion.”
Sten Jeansson, Managing Director of HTC says: ”HTC is the market leader in a sector with strong growth. We have ambitious targets for HTC’s future development and in 3i we have a competent financial partner with extensive experience in supporting fast growing companies.”
Håkan Thysell, founder and main owner of HTC comments on the investment: ”It is a natural part of our current development phase to bring in a strong co-owner to the company. I am looking forward to seeing my ideas realised through HTC’s fast international development.”
Danske Bank Corporate Finance, Sweden, has acted as financial advisor for HTC and its owners in the transaction.
For further information, please contact:
Karoliina Heimo, 3i Press Office,
Tel. +44 207 975 3138, Mobile +44 7739 538 091
Henrik Flygar, Director 3i Nordic, Advisor for 3i Group plc:
Tel. +46 8 506 101 31, Mobile +46 70 666 07 79
Klas Hillström, Partner 3i Nordic, Advisor for 3i Group plc:
Tel. +46 8 506 101 45, Mobile +46 70 508 77 12
Sten Jeansson, Managing Director, HTC Sweden AB:
Tel. +46 121 294 00, Mobile +46 70 917 49 88
Håkan Thysell, founder and main owner of HTC:
Tel. +46 121 294 00, +46 70 917 49 60
Contact person: Maria Hollmann, Information/Public Relations, HTC Sweden AB,
Tel: 0121-294 00, mobile: +46-709-85 21 67
E-mail: maria.hollmann@htc.se
About 3i
3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.
3i's Growth Capital business focuses on investing minority stakes in high growth companies expanding organically or through acquisition. The business currently manages 300 investments across Europe and Asia with a value in excess of €1.8bn and invests across a broad range of industry sectors, including healthcare, business services, consumer, media, technology and oil, gas and power. Read more on www.3i.com
About HTC Sweden AB
HTC was founded in 1987 by Håkan and Gunn Thysell. 1992 a patented system for grinding concrete was launched and today HTC is the market leader within diamond based concrete grinding. HTC has also developed unique floor solutions within polished concrete, e.g. HTC Superfloor™ and recently the new diamond based cleaning system Twister™ was launched internationally. Head office with production and product development is located in Söderköping, Sweden. Sales offices are sited in Germany and US and specialized production is located in UK and US. Read more on www.htc-sweden.com