M&A Deal Summary

Kennet Partners Acquires Altitun AB

On October 1, 1999, growth capital firm Kennet Partners acquired semiconductors company Altitun AB

Acquisition Highlights
  • This is Kennet Partners’ 1st transaction in the Semiconductors sector.
  • This is Kennet Partners’ 1st transaction in Sweden.
Investment Fate
  • Altitun AB was sold to a publicly-traded strategic buyer in 2000 for 872M USD.
  • Altitun AB was divested to a consortium of strategic buyers in 2003 for 29M SEK.

M&A Deal Summary

Date 1999-10-01
Target Altitun AB
Sector Semiconductors
Buyer(s) Kennet Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Altitun AB

Stockholm, Sweden
Altitun developed and manufactured tunable semiconductor lasers for use in optical networking applications.

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Buyer(S) 1

Buyer

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 2 of 42
Sector: Semiconductors M&A 1 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 9
Country: Sweden M&A 1 of 1
Year: 1999 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 CONSUL Risk Management International B.V.

Delft, Netherlands

CONSUL Risk Management International B.V. is a provider of compliance and security audit software that helps clients track, report and investigate non-compliant behaviour, such as unauthorized activity by information technology (IT) administrators or other users.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-01 Altitun AB

Stockholm, Sweden

Altitun developed and manufactured tunable semiconductor lasers for use in optical networking applications.

Sell $872M