Herkules Private Equity Fund III has taken a 62% stake in Lunde, Norway-headquartered Bandak Holding AS, a group of companies that manufacture mechanical engineering products for the subsea, offshore, defence and astronautical industries, as well as for technology companies.
The transaction, which completion is expected following approval by the Norwegian competition authorities, will be a combination of partly acquiring existing shares and partly injecting capital through a new share issue.
Founded in 1938, Bandak has 225 employees, who work in its head office in Lunde and in its subsidiaries in Raufoss, Halden, Notodden and Kongsberg. The group has been owned by management and key employees since 2008.
FinSMEs
12/12/2009