Buyout (LBO, MBO, MBI) • Retail

Herkules Capital Acquires Tilbords

On April 1, 2007, private equity firm Herkules Capital acquired retailer Tilbords

Acquisition Context

This is Herkules Capital’s 2nd transaction in the Retail sector.
This is Herkules Capital’s 9th transaction in Norway.

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M&A Deal Summary
Date	April 1, 2007
Target	Tilbords
Sector	Retail
Buyer(s)	Herkules Capital
Deal Type	Buyout (LBO, MBO, MBI)

Target Company

Tilbords

Bergen, Norway

Tirag AS is a retailer within kitchen and interior products. The Tilbords retail chain consists of 116 stores across Norway, 100 of which are owned by franchisees and sixteen being owned by the chain. The company also owns the candle and table napkin manufacturer Cleo.

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Buyer Overview 1

Buyer

Herkules Capital

Oslo, Norway

Investor

Category	Private Equity Firm
Founded	2004
PE ASSETS	15.1B NOK
Size	Large
Type	Sector Agnostic

DESCRIPTION

Herkules Capital is a private equity firm focused on acquiring controlling interests in established companies located in Norway and other Nordic countries. Herkules looks to commit NOK 100 to NOK 1200 million of equity capital per transaction and will consider investing in public and private companies. Sectors of interest include oil services, healthcare, consumer, trade/retail, services and telecom. The Firm's investment horizon is typically five to seven years. Herkules was formerly known as Fer Private Equity. The Firm is based in Lysaker, Norway.

Deal Context for Buyer	#
Overall	11 of 39
Sector: Retail	2 of 2
Type: Buyout (LBO, MBO, MBI)	8 of 27
Country: Norway	9 of 32
Year: 2007	3 of 5

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2007-03-27	Hatteland Display AS Nedre Vats, Norway Hatteland Display AS is a manufacturer of advanced displays for the maritime sector.The company provides solid, rough and durable displays for the maritime sector. Key segments are commercial shipping, mega yachts and naval/defense. Hatteland Display delivers products to a sector where quality and durability are of essence. The company's long lasting focus on quality products has ensured a strong position in this niche. Most of Hatteland Display's products are exported outside Norway.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2007-03-27

Hatteland Display AS

Nedre Vats, Norway

Hatteland Display AS is a manufacturer of advanced displays for the maritime sector.The company provides solid, rough and durable displays for the maritime sector. Key segments are commercial shipping, mega yachts and naval/defense. Hatteland Display delivers products to a sector where quality and durability are of essence. The company's long lasting focus on quality products has ensured a strong position in this niche. Most of Hatteland Display's products are exported outside Norway.

Buy

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2007-04-10	EFG European Furniture Group AB Tranas, Sweden EFG is the second largest provider of office furniture in the Nordic region and the eight largest in Europe. EFG is a full range integrated supplier offering a wide and deep range of office furniture comprising desking, storage and pedestals, conference furniture, furniture for communal areas, task seating and screen and wall systems. EFG sells its products mainly through its own sales network.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2007-04-10

EFG European Furniture Group AB

Tranas, Sweden

EFG is the second largest provider of office furniture in the Nordic region and the eight largest in Europe. EFG is a full range integrated supplier offering a wide and deep range of office furniture comprising desking, storage and pedestals, conference furniture, furniture for communal areas, task seating and screen and wall systems. EFG sells its products mainly through its own sales network.

Buy

Explore Related M&A Activity

Retail M&A - Buyout (LBO, MBO, MBI) M&A Deals - Norway M&A - 2007 M&A