Altor Fund III has acquired CTEK-Creator Group, a Vikmanshyttan, Sweden-based advanced switch mode battery charger company from FSN Capital.
The transaction, which is still subject to customary closing conditions, is expected to close in June.
Altor intends to help the company continue to grow. The group provides advanced switch mode battery chargers and ancillary equipment and has a turnover of SEK334m in 2010.
Its main markets today include the Nordics, Germany, Benelux and Italy.
The group consists of two companies, including:
– Creator (www.creator.se), a highly specialised product development company contracted by companies such as 3M, ABB, Effpower, Ikea / Freshman, Optima Batteries, SCA, Thomas & Betts,
– CTEK (www.ctek.com), which designs and develops a series of battery chargers and special solutions for all types of lead acid batteries for both private and professional use. Customers include motor manufacturers such as Aston Martin, Bentley, BMW, Ferrari, Lamborghini, Maserati, Maybach, Mercedes Porsche and Scania.