Altor Fairness Companions introduced the acquisition of a majority stake in marine and land-based cleantech options supplier Evac from non-public asset investor Bridgepoint.
Based in 1979, Espoo, Finland-based, Evac is a world supplier of built-in clean-tech programs for marine, offshore and land-based industries. The corporate makes a speciality of water and waste administration, in addition to vessel safety programs utilized by naval forces, cruise operators and business fleets. Its buyer base spans cruise, naval, service provider, yacht and different marine sectors.
The acquisition is being made by way of Altor Fund VI and Altor ACT I – the latter of which targets investments associated to decarbonization and circularity.
Björn Ullbro, CEO of Evac Group, stated:
“Evac is pushed by a robust give attention to innovation, and we try to pioneer the expertise and sustainability transformation of our business. As we embark on our subsequent chapter, we need to thank Bridgepoint for his or her help. We’re well-positioned and able to carry on constructing on our main place with Altor on board.”
Altor stated that it plans to work with Evac’s administration to help enlargement throughout segments and merchandise, drawing on Altor’s expertise within the marine business, together with prior involvement with Aalborg Industries, Navico and Wrist Ship Provide. Evac’s administration workforce will reinvest within the firm as a part of the transaction.
Bengt Maunsbach, Companion and Head of Industrials at Altor, stated:
“From our very first encounter, we’ve got been extremely impressed by Björn and all the administration workforce at Evac. It’s uncommon to come back throughout an organization like Evac with excellence and powerful efficiency in its merchandise and segments. Björn and the workforce have constructed a robust firm match for the long run with innovation on the core of their success. As we transfer ahead collectively, we stay up for supporting the workforce in driving development from continued product innovation and M&A.”
Bridgepoint acquired Evac in 2017, and the corporate’s revenues have elevated from round €100 million inn 2016 to €190 million in 2024, by way of a mixture of product portfolio enlargement, M&A and the buildout of its aftermarket capabilities.
Patrick Fox, Senior Companion and Christopher Bley, Companion and Co-Head of Nordics at Bridgepoint, stated:
“Throughout our possession, Evac has developed into a very world chief with a differentiated portfolio and a extremely resilient aftermarket enterprise. Our focused M&A programme has expanded capabilities in core niches, strengthened Evac’s world footprint and created significant business synergies throughout the group. We’re pleased with the progress achieved along with the administration workforce and imagine the corporate is exceptionally effectively positioned for its subsequent part of development.”
