Nordiska Industri AB

The loan has been provided to finance Latour’s acquisition of three SME companies: CTEK, Scangrip, and Fristads.

Latour is a mixed investment company consisting of both wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. Latour is based in Gothenburg, Sweden, and its shares are listed on Nasdaq Stockholm. Latour acquires listed and unlisted Nordic companies with a long-term investment horizon. The borrower, Nordiska Industri AB, acts as Latour’s internal bank.

Latour’s main business concept is to invest in sustainable and financially solid companies with proprietary products, strong growth potential supported by global megatrends. Latour contributes as an active owner through its board members and has proved its capabilities to foster a strong growth in its portfolio companies and develop international champions over several decades.

Latour is helping its portfolio companies to grow by providing capital or enhancing access to credit, bringing knowledge and advice on strategy and operations, and support the portfolio companies with their internationalisation plans.

Latour acquired these companies with the aim to increase their growth and enhance their international expansion. CTEK is a global brand in battery charging solutions for vehicles and an important contributor to the transition to a greener mobility in the Nordics. Scangrip is an industry leading manufacturer of innovative LED work lights (e.g. floodlights, handlamps, headlamps and flashlights) for professional end users in the construction industry. Fristads consists of three brands: Fristads, Kansas, and Leijona. These are professional workwear brands for a variety of end-use segments and have strong footholds in their respective key markets Sweden, Denmark, Germany and Finland. Both Scangrip and Fristads are now part of the Hultafors Group, which is 100% owned by Latour. Latour is the largest shareholder of CTEK with 31% of the shares.

The acquisition is part of Latour’s strategy with the aim of increasing growth and further internationalising these companies. When financing acquisitions, NIB seeks for projects in which the acquirer commits to an active ownership of the newly acquired assets – by further developing, expanding businesses, capitalizing synergies and by bringing additional financing for further growth. In this case, by making acquisitions of smaller but well-established companies, Latour becomes an active owner by bringing knowledge and potential synergies to the acquired companies.

No significant negative sustainability impacts have been identified in relation to the loan.