IK Investment Partners

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IK Investment Partners
Private Ownership,
Limited liability partnership
IndustryPrivate Equity
PredecessorIndustri Kapital
Founded1989; 30 years ago (1989)
HeadquartersLondon, United Kingdom
Stockholm, Sweden
ProductsInvestments, private equity funds
Total assets€ 5.7 billion
Number of employees
70+
Websitewww.ikinvest.com

IK Investment Partners (formerly known as Industri Kapital) is a leading European private equity firm, focusing on investments in the Nordic region, Benelux, France and Germany. Since inception, the firm has raised a total of €5.7 billion in investor commitments. The firm invests primarily in middle market companies.

The firm, which is headquartered at Brettenham House in London has offices in Hamburg, Paris and Stockholm. IK operates through six investment teams covering Benelux, Denmark, Norway, Finland, France, Germany/CEE and Sweden.

History[edit]

IK Investment Partners was founded under the name Industri Kapital by Björn Savén and Kim Wahl.[1] The firm’s origins lie in Enskilda Ventures which in 1989 sponsored Björn Savén in raising the Scandinavian Acquisition Capital Fund (SAC) and established the London office. SAC closed with approximately €108 million in commitments mainly from Scandinavian investors.

In the year 1993 Industri Kapital became independent through the management buyout of SAC’s assets and activities from Skandinaviska Enskilda Banken, the parent of Enskilda Ventures. SAC’s was renamed the Industri Kapital 1989 fund.[2] In the same year the company established offices in Stockholm and Oslo.

In 2011 Industri Kapital suffered major losses in the bankruptcy and sale of Moventas Oy, a Finnish maker of wind turbines.[3]

Funds[edit]

Industri Kapital’s second fund, IK 1994, held its final closing with commitments totaling €250 million, broadening the investor base to include European and North American investors.

Logo used by the firm prior to its rebranding as IK Investment Partners

In 1997 Industri Kapital inaugurated its Hamburg office and closed its third fund, IK 1997, with commitments of €750 million. The year after the firm completed it first investment in Germany.

The fourth fund, IK 2000, closed with €2.2 billion in commitments in the year 2000. IK 2000 made its first investment in France. Three years later, in 2003 Industri Kapital began raising its fifth fund, IK 2004.[4][5] The firm struggled in the fundraising markets, requiring over two years to hold a final closing on the fund.[6] IK completed fundraising in 2005 with €825 million in commitments. The firm's Paris office was opened the year after.

In the year 2007 Industri Kapital closed its sixth fund, IK2007, with commitments of €1.7 billion.[7]

The first investment in Poland was being made with the IK 2004 fund in year 2008. The transaction is IK’s first direct investment in the region and marks the start of the firm’s plans to invest directly in Poland, Czech Republic, Slovakia, Hungary and the Baltic States, in addition to its operations in Benelux, France, Germany and Scandinavia.

In September 2013, it was announced that Global fuel testing firm DNV Petroleum Services (DNVPS) would be acquired by private equity firm IK Investment Partners, after it was left out of the recent DNV GL merger.

Henrik Madsen, president and ceo of DNV GL Group, said the sale of DNVPS by DNV is based on a review of the DNV Foundation's total portfolio of activities following the merger of the two classification societies.[8]

In October 2013, IK closed its seventh fund with investor commitments of approximately €1.4 billion.[9]

The company also established the company Løgismose Meyers after it had acquired Løgismose from the Grønløkke family as well as most of Claus Meyer's culinary activities.[10] Tørk Eskild Furhauge succeeded Steen Halbye as CEO in September 2016.[11]

References[edit]

  1. ^ Industri Kapital appoints successors for chairman. Financial News, Jun 5, 2008
  2. ^ Industri Kapital AB acquires Scandinavian Acquisition through a leveraged buyout. Thomson Financial Mergers & Acquisitions, May 19, 1993
  3. ^ Matti Kankare (April 12, 2011). "Konkurssista tuli 25 vuoden salaisuus". Talouselämä.
  4. ^ Pan-European buy-out firm Industri Kapital holds first close on E500m. AltAssets, Nov 11, 2003
  5. ^ ndustri Kapital makes first investment out of 2003 fund into Swedish housebuilder. AltAssets, Dec 22, 2004
  6. ^ Nordic Industri Kapital reportedly struggling to raise buy-out mega-fund. AltAssets, May 30, 2003
  7. ^ Industri Kapital raises €1.68bn for sixth fund. Financial Times, October 16, 2007
  8. ^ http://www.seatrade-global.com/news/asia/ik-investment-partners-to-acquire-dnvps.html
  9. ^ "IK VII Fund holds final close at €1.4bn". Unquote. Retrieved 24 Oct 2013.
  10. ^ "Madikonerne Meyer og Løgismose er blevet solgt" (in Danish). coneliand.dk. Retrieved 26 September 2017.
  11. ^ "Løgismose Meyers har fundet sin nye topchef" (in Danish). finans.dk. Retrieved 26 September 2017.

External links[edit]