M&A Deal Summary

Eltek ASA Acquires Dynea

On June 25, 2013, Eltek ASA acquired chemicals company Dynea from IK Partners and Intermediate Capital Group

Acquisition Highlights
  • This is Eltek ASA’s 1st transaction in the Chemicals sector.
  • This is Eltek ASA’s 1st transaction in Norway.

M&A Deal Summary

Date 2013-06-25
Target Dynea
Sector Chemicals
Buyer(s) Eltek ASA
Sellers(s) IK Partners
Intermediate Capital Group
Deal Type Add-on Acquisition

Target

Dynea

Lillestrøm, Norway
Dynea is a global provider of superior adhesion and surfacing solutions. Prefere by Dynea adhesive sesins are used in a variety of applications by the panel board industry, laminate beam and structural woodmanufacturers, the mineral and glass fibre industry, the paper impregnation industry, and many orthers. Ultim by Dynea is a family of high quality paper overlay products for both decorative and industrial uses. Dynea is based in Lillestrøm, Norway.

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Buyer(S) 1

Buyer

Eltek ASA

Drammen, Norway

Category Company
Founded 1970
Sector Energy Services and Equipment
Employees3,000
Revenue 466M EUR (2012)
DESCRIPTION

Eltek Group is a power conversion specialist. Eltek develops and markets energy systems for telecom, renewable energy, electric vehicles and industrial applications as well as other information and communication related services. Eltek carries out its business through two main companies and their subsidiaries: Eltek Valere (energy systems) and Nera Telecommunications (telecom and infocom).


DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Norway) 1 of 1
Year (2013) 1 of 1

Seller(S) 2

SELLER

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

IK Partners is a private equity firm that targets control investments in lower middle-market to large-sized companies throughout Europe. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The Firm looks to commit €10 to €300 million of equity capital per transaction and targets companies with strong cash-flows. IK Investment Partners was formerly known as Industry Kapital. IK Partners was formed in 1989 and is based in London, England.


DEAL STATS #
Overall 59 of 121
Sector (Chemicals) 4 of 4
Type (Add-on Acquisition) 24 of 43
Country (Norway) 4 of 6
Year (2013) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-06 Hansen Protection

Moss, Norway

Hansen Protection is design and production of textile products safeguarding people, property and the environment. Hansen Protection was founded in 1976 and is based in Moss, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-29 Ampelmann

Delft, Netherlands

Ampelmann, which span out from the Delft University of Technology, is a high-tech company focusing on the development, construction, rental and sale of offshore access solutions. Ampelmann was founded in 2008 and is based in Delft, Netherlands.

Buy -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 137 of 217
Sector (Chemicals) 6 of 7
Type (Add-on Acquisition) 38 of 67
Country (Norway) 3 of 4
Year (2013) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-29 Franklin Offshore International Pte.

Singapore

Franklin is the provider of rigging, lifting and mooring services to the offshore and marine industries in South East Asia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-16 Inenco Group

Lancashire, United Kingdom

Inenco Group provides businesses with strategic energy management procurement and risk management services.

Buy -