Fortaco Group to be acquired by One Equity Partners
Funds managed by CapMan Buyout have agreed to sell their holdings in Fortaco Group, the leading strategic partner to the heavy off-highway equipment and marine industries offering technology, vehicle cabins, steel fabrications, and assemblies to global OEMs, to private equity firm One Equity Partners.
As the new owner, One Equity Partners will empower the further development of the current and new offering of Fortaco, including areas to strengthen value creation to customers and to provide the means for further international expansion.
“We are very honored to become a member of the One Equity Partners family. I want to express my sincere thanks to all our global customers, business partners, and the Fortaco team for the highly qualified performance we reached together. With One Equity Partners, we are looking forward to realizing the full potential of Fortaco as the leading business partner of technology, vehicle cabins, steel fabrications and assemblies. In addition, I want to thank CapMan as the owner and the Board of Directors for their support and trust,” says Lars Hellberg, President & CEO of Fortaco Group.
“We look forward partnering with Fortaco CEO Lars Hellberg and his team, applying our industrial sector expertise to support Fortaco in broadening and deepening its offerings in current markets and expanding into new end markets where we believe the Company is well-positioned for success,” said Johann-Melchior von Peter, Senior Managing Director at One Equity Partners. “We see ample opportunity for Fortaco to leverage its global manufacturing and sourcing footprint and extend its value to clients by helping them improve their operational efficiency,” adds Marc Lindhorst, Principal at One Equity Partners.
Under the ownership of CapMan, Fortaco has grown and become a market-leading, premium industrial company. Fortaco has factories across seven European countries, in addition to a joint venture with Tata AutoComp in India. Fortaco also has a large portfolio of global customers in different industry segments, and the company’s turnover and profitability have developed very favorably in recent years.
“CapMan was one of the initiators in the formation of Fortaco Group ten years ago. We have provided continuous strategic support over the company’s many development phases towards the market leader it is today with ambitious growth prospects. I would like to thank Fortaco’s management team and employees for excellent co-operation over the years. The company is now well-positioned to continue its growth journey with One Equity Partners as the new owner,” says Anders Björkell, partner at CapMan Buyout.
Closing of the transaction is expected in the second half of 2022 and is subject to regulatory approvals and customary closing conditions.