Bahrain-based Investcorp has signed an agreement to acquire Hilding Anders, a European manufacturer of beds and mattresses, from a group of investors including Nordic Capital and Ratos.
Hilding Anders was established in Sweden in 1939 and has since expanded through a combination of organic growth and acquisitions. In particular, over the past five years, Hilding Anders has multiplied its revenues eightfold as a result of European expansion. In 2002, the group delivered more than four million beds across Europe and now employs some 2,200 people, of which 400 are in Sweden.
Hilding Anders' products are sold under proprietary brands as well as private labels. Private label products are sold to large pan-European furniture chains such as IKEA and Jysk.
“We plan to support Hilding Anders in developing both its branded and private label products and in strengthening its relationships with existing customers, as the company grows and consolidates its position across Europe,” said Investcorp Managing Director and General Manager of the Firm's Bahrain office, Salman Abbasi.
Investcorp is a global investment group with offices in Bahrain, London and New York. The firm has four lines of business: corporate investment, asset management, real estate investment, and technology investment. It was established in 1982 and has since completed transactions with an aggregate value of approximately $25 billion. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
