Katz Group, Germany

Investment made: February 2008
Exited: April 2009

The Katz Group is the leading global manufacturer of advertising mats, including coasters for beer glasses. Katz Group has five production facilities, two in Germany, two in the USA and one in the UK. The customers of Katz Group include the major breweries and an increasing number of premium distilleries and soft drink manufacturers. EquiVest I Fund closed the acquisition in November 2005 and has made several add-on investments thereafter.

Nordic Mezzanine entered into the transaction in February 2008 and acted as sole mezzanine and junior loan investor in this transaction.

Nordic Mezzanine exited from the Katz Group in December 2009.

Dynapac, Sweden

Investment made: June 2004
Exited: May 2007

Dynapac, headquartered in Karlskrona, is a leading global manufacturer of compaction and paving equipment for road construction. The company manufactures and sells rollers, pavers, planers and concrete and light compaction equipment and services worldwide. Altor Equity Partners of Sweden led the management buyout of Dynapac from Metso Minerals. Nordic Mezzanine arranged and underwrote the mezzanine loan facility for the financing of the acquisition and acts as mezzanine facility agent. Nordic Mezzanine became also a minority shareholder through its equity investment alongside Altor. Nordic Mezzanine exited its mezzanine and equity investments when Altor sold Dynapac to the industrial buyer Atlas Copco of Sweden. The exit was finalised in May 2007.

ANI Printing Inks, Sweden

Investment made: November 2006
Exited: June 2007

In 2004 Nordic Mezzanine invested in ANI Printing Inks, one of the leading printing ink manufacturers in Europe with strong positions in the Narrow Web and Web Offset market segments. In January 2002 the company was acquired from Akzo Nobel by Bencis (formerly NeSBIC) and the management. In March 2004 the owners decided to make a recapitalisation which included an acquisition facility for future acquisitions. Nordic Mezzanine underwrote the mezzanine loan facility in the recapitalisation. It also acted as the lead arranger and the facility agent for the loan. ANI Printing Inks was exited in connection with the sale of the company to CVC Capital Partners in November 2004.

Paroc, Finland

Investment made: November 2006
Exited: June 2007

Nordic Mezzanine participated in the syndication of the mezzanine loan for the financing of the acquisition of Paroc led by Arcapita Bank. The investment in Paroc made in November 2006 was exited in connection with a recapitalisation in June 2007.

Jamo, Denmark

Investment made: July 2001
Exited: June 2007

Jamo, the largest European producer of loudspeaker systems and home theatre solutions was acquired from the Copenhagen Stock Exchange in July 2001 and subsequently de-listed. The acquisition was led by FSN Capital, a Nordic private equity house backed by well known institutional investors.

Nordic Mezzanine acted as the Lead Arranger of the mezzanine loan to finance the acquisition. It also acted as joint underwriter of the equity together with FSN Capital, whereby Nordic Mezzanine took a minority stake in the company. BancBoston Capital, one of FSN Capital's investors, also bought a minority stake of the equity.

The investment was exited in June 2007.

Paroc, Finland

Investment made: February 2003
Exited: August 2006

Paroc is one of the leading manufacturers of stone wool insulation products and solutions in Europe. The company was acquired by Banc of America Capital Partners Europe together with its co-investors in a buyout from Industri Kapital and Kone Corporation of Finland. Nordic Mezzanine underwrote the mezzanine loan facility in the transaction. Furthermore, it acted as the lead arranger and the facility agent for the loan. Paroc was sold to Arcapita Bank in August 2006 in a secondary buyout.

Frigoscandia, Sweden

Investment made: March 2002
Exited: January 2006

Frigoscandia Distribution AB, a leading provider of temperature controlled logistics services, including transportation and warehousing, in the Nordic region, was acquired by Triton in March 2002 from ProLogis. Nordic Mezzanine, together with its co-investors, underwrote the whole mezzanine loan facility for the financing of the acquisition. Nordic Mezzanine acted as the lead arranger and the facility agent for the mezzanine loan. The investment was exited in January 2006 when Frigoscandia was sold to Norway Post.

Dometic, Sweden

Investment made: March 2002
Exited: June 2005

In March 2002 Nordic Mezzanine invested in Dometic, the global leader in various appliances for recreational vehicles and boats, the most important item being absorption refrigerators, also used in hotel minibars and for medical refrigeration. The buyout of Dometic, formerly a division of Electrolux AB, was led by EQT Partners in mid 2001.
Nordic Mezzanine participated in the syndication of the mezzanine loan for the financing of the acquisition of Dometic International.

Nordic Mezzanine exited Dometic in June 2005 in a secondary buyout in which BC Partners acquired the company.

Dyno Nobel, Norway

Investment made: August 2000
Exited: November 2005

Dyno Nobel, one of the world market leaders within commercial explosives business with global operations and headquarters in Norway was acquired by Industri Kapital, a major European private equity firm, in August 2000 as part of a complicated transaction in chemicals industry. Nordic Mezzanine was one of the arrangers of the mezzanine financing, part of the acquisition financing. Nordic Mezzanine was also appointed facility agent for the international mezzanine syndicate. The investment was exited in November 2005, when Dyno Nobel was sold to a consortium of institutional investors lead by Macquarie Bank in November 2005.

Global Garden Products, Sweden

Investment made: December 1999
Exited: December 2003

Global Garden Products is the largest manufacturer of lawn mowers and gardening equipment in Europe. The company was formed following major add-on acquisitions completed by the platform company Stiga since the initial investment in December 1999. The acquisition was led by UBS Capital, one of the leading private equity investors in Europe at the time. Nordic Mezzanine acted as the Lead Arranger and the Facility Agent of the mezzanine capital facility to finance the acquisition of Stiga. Several investors of the Nordic Mezzanine Fund co-invested with it in the project. The investment in Global Garden Products was realised in December 2003 when UBS Capital sold the company to ABN AMRO Capital in a secondary buyout.

Nycomed Pharma, Denmark

Investment made: May 1999
Exited: November 2002

Nycomed Pharma markets and manufactures branded pharmaceuticals and consumer health products with strong market positions in the Nordic countries and several other European countries. In May 1999 Nordic Mezzanine underwrote together with its co-investor a mezzanine loan to finance part of the acquisition of Nycomed Pharma by Nordic Capital, one of the leading private equity investors in Europe. Nordic Mezzanine exited Nycomed Pharma in November 2002 in connection with a secondary buy out in which Nordic Capital sold the company to a group of investors led by Credit Suisse First Boston.