KGH Customs AB to be acquired by Bridgepoint Development Capital

BDC acquires in KGH Customs one of the largest and fastest growing European independent customs services specialists
 
Bridgepoint Development Capital (‘BDC’) has entered into an agreement with the private equity funds Procuritas Capital Investors III A and B (“Procuritas”) and minority shareholders to acquire KGH Customs AB, headquartered in Gothenburg, Sweden. They signed the relevant agreement on September 26, 2013.
 
The agreement is subject to merger clearance by the competition authorities in Norway and Austria, and customary closing conditions. The transaction is expected to close in November 2013. KGH’s management team will remain with the company.
 
KGH Customs is a leading independent provider of customs services in Europe. Established in 1963 the company employs more than 600 staff and has operations in Sweden, Norway, Denmark, Belgium, the Nether¬lands, Germany and Austria, and with partnerships with local experts in other European countries. Today they serve more than 13,000 clients across Europe. Annual turnover amounted lately to EUR 58 million.
 
Under the new ownership, KGH will continue to develop its pan-European operations, in current and new geographies, and build on the extensive experience and customs competence within the Company to establish strategic outsourcing relationships with current and prospective clients. "We are very pleased to welcome Bridgepoint Development Capital as the new majority owner of KGH. They will add additional business competence, a pan-European network and financial strength, which will allow KGH to continue its strategy to grow in Europe and beyond," says KGH’s CEO Vidar Gundersen.
 
"Customs services and trade compliance are increasingly important for international organisations. In KGH, one of the leading players within customs and related services, we have the opportunity to create a pan-European platform serving importers and exporters in their international trading activities," said Johan Dahlfors, partner responsible for BDC’s investment activities in the Nordic region.
 
Bridgepoint Development Capital (,BDC‘) finances companies based in France, the Nordic countries and the UK, and concentrates on buy-outs with an enterprise value of up to EUR 150 million. The enterprise is part of Bridgepoint, an international private equity group, with main focus on acquiring market-leading businesses valued between EUR 200 million and EUR 1 billion throughout Europe, and operates a network with offices in Frankfurt, Istanbul, London, Luxemburg, Madrid, Mailand, Paris, Shanghai, Stockholm and Warsaw.
 
www.bridgepoint.eu  www.kghcustoms.com

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