Trygg Vei AS / Garda Sikring
Erik Borgersen Holding AS, a private investment company, has sold Trygg Vei AS to Garda Sikring for an undisclosed consideration.
Trygg Vei AS is a Norwegian top tier contractor of new building and maintenance and repair (M&R) services for road restraint systems to transportation infrastructure. Customers are typically national, county and municipal road authorities and large infrastructure contractors. The company was established in 1998 and has a remarkable track record of high profit margins and revenue growth.
Garda Sikring is a group of seven regional companies that deliver and install permanent and temporary perimeter security solutions such as various types of fences. Garda had a turnover of approximately US$35 million in 2016 with an EBITDA margin of 15%. The Norwegian private equity fund Longship owns 70% of the company.
Oaklins’s team in Norway advised the seller in this transaction which was driven by the need for generational succession. We received several good inputs from Oaklins’ teams in Europe, but decided in the end to enter into a deal with a Norwegian group.
“This transaction is a hugely significant milestone in KMP’s development, strongly positioning the business for its next phase of growth, allowing us to extrapolate our already strong global reach with opportunities for economies of scale across complementary brands and products.
I am grateful for the invaluable advice, support and guidance provided by Joe Stelzer and his team throughout the process.”
“The acquisition of FAI by Motus will bring us many synergies, with scope to expand our supply chains and product ranges, as well as the opportunities to enter new markets. Both existing and new customers will benefit from our core aims of best availability, best service, best quality and best price. Our business ethos is so closely aligned with Motus’s that the change of ownership will be seamless, but the benefits will be felt by all.”
“The Cavendish Team, led by Alistair and Mike, did a fantastic job managing the process, providing valuable advice and identifying Arbuthnot as the right partner for the business. It was a pleasure working together and we are pleased to have achieved a brilliant outcome for the company.”
“The Cavendish team were an integral part of this successful process. They were committed and professional throughout. Hydreco has an established market position, international footprint and complementary mobile hydraulic product line and this should be an exciting next phase of growth for the business under new ownership.”
“We are proud of the leading global business Xtrac is today; persistent innovation and exceptional customer service remain our highest priorities. Inflexion shares our values; its investment will accelerate our ambitious growth strategy, developing the next generation of high-end automotive transmission systems and expanding our coverage of the high performance hybrid and electric car transmission market. This partnership with Inflexion supports Xtrac’s ethos of employee ownership, and our team look forward to a new chapter in the continuing development and growth of our company.”
Cavendish played an invaluable role throughout a complex transaction and in particular getting the transaction across the finishing line.
This deal provides an excellent platform for the Levolux business to continue its overseas expansion. As well as the compelling strategic fit, Alumasc provides an excellent home for the Levolux brand and team. We are delighted with the outcome and the support extended to us by Cavendish.
This has been a highly complex transaction involving 10 jurisdictions. Cavendish has held our hands throughout the process, providing a dedicated team who have done a superb job; this has greatly reduced interruptions to our businesses whilst adhering to the original timetable. Cavendish has achieved a very successful sale at a fair price to a buyer who will enjoy significant strategic value from the purchase.
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