Litorina has entered into an agreement to sell its holding in Semantix, the Nordic region’s leading supplier of translation and interpreting services, to investment fund Segulah V L.P. The operating shareholders in the company management will remain as owners following the transaction.
Semantix is the Nordic region’s leading supplier of translation and interpreting services. Its customers include large and small companies and authorities within most industries. The group has twelve offices in Sweden, Finland and Norway with a total of approximately 300 employees.
“Under Litorina’s ownership since December 2009, the company has strengthened its leading Nordic position by developing its service offering, focusing on its customers, investing in systems and reinforcing the organisation, as well as through a number of add-on acquisitions,” says Lars Verneholt, Partner at Litorina Capital Advisors AB, investment advisors to the Litorina Kapital III fund. “Since being acquired by Litorina, Semantix’s turnover has increased from around SEK 300 million to more than SEK 600 million, with a stable profit margin. Today, Semantix represents a strong platform for profitable future growth, and we see good opportunities for the company to continue its positive development under Segulah’s ownership.”
“As our main owner, Litorina has provided excellent support for Semantix’s development over the years,” adds Anders Uddfors, CEO of Semantix. “I now look forward to continuing the company’s long-term development, together with our new main owner Segulah.”
The deal is expected to close in July, and is conditional on Swedish Competition Authority approval.
Access Partners acted as M&A advisor, Vinge as legal advisor and PwC as financial advisor to Litorina in the transaction.
For further information, please contact:
Lars Verneholt, 0733-86 92 07, Partner, Litorina Capital Advisors AB
Semantix is the Nordic region’s leading supplier of translation and interpreting services, with more than 40 years of combined experience. Its customers include large and small companies and authorities within most industries. Semantix has an annual turnover of more than SEK 600 million, and is quality certified in accordance with ISO 9001:2008. The group has twelve offices in Sweden, Finland and Norway. It has a total of approximately 300 internal employees, and makes payments to around 3,000 freelance language consultants each month. For more information, visit www.semantix.se.
Litorina, founded in 1998, focuses on acquiring and industrially developing primarily Swedish companies together with their management. Litorina offers broad and deep expertise both via its own organisation and through its network of industrial advisors. Litorina is backed by a number of long-term, reputable institutions that have jointly invested approximately SEK 4.8 billion in Litorina’s four funds. For more information, visit www.litorina.se.