15 December 2006 — Stockholm (SWE): Isaberg Rapid, a wholly owned subsidiary of the listed investment company Industrivärden, has been acquired by Stockholm-based private equity company Segulah.
Ingemar Broström, CEO of Isaberg Rapid said: "Segulah has followed our company very carefully during some years and shown a genuine interest in our operation and future possibilities. I look forward to explore our future potential growth together with my colleagues and Segulah."
Gabriel Urwitz, chairman of AB Segulah, the investment advisor of Segulah, said: "Isaberg Rapid is the European market leader within staplers and staples. Segulah sees significant opportunities to both grow the company in sales and also continue the restructuring process that Industrivärden has initiated to further improve the efficiency and to do this together with the current management. We are very excited that Industrivärden has given Segulah this opportunity."
Following completion, which is conditional on clearance from different European competition authorities, Lars Brodd will be appointed chairman of Isaberg’s board of Isaberg.
Brodd is a former CEO of Stiga and has extensive experience from production, distribution and marketing.