Candover’s acquisition of Hilding Anders
Candover acquires Hilding Anders, a leading mattress and beds manufacturer from Investcorp for an enterprise value of approximately €1.0 billion
Candover, a leading European buyout specialist, today announces that it has signed an agreement to acquire Hilding Anders from Investcorp, for an enterprise value of SEK9.2 billion (approx. €1.0 billion). This is the fourth investment to be made from the €3.5bn Candover 2005 Fund which closed in November 2005.
Hilding Anders is the European market-leading manufacturer of mattresses and beds. Founded in Sweden in 1939, it sells both branded and own-label mattresses and in some countries it also manufactures the supporting bed frames. The branded portfolio includes household names such as Bico (Switzerland), Hilding (Nordic), Slumberland (UK, Ireland) and Jensen (Norway). The business also supplies the fast growing private label segment for sale by large retailers such as IKEA and Jysk.
Hilding Anders is headquartered in Malmö, Sweden and employs over 3,100 staff across 18 production sites in 26 European countries.
Candover was advised on the transaction by Castlegreen Partners and JP Morgan (M&A), Linklaters (legal), LEK (commercial due diligence), KPMG and Deloitte & Touche (tax). Investcorp was advised by Credit Suisse, along with Citigroup, Handelsbanken, GDC (legal) and PwC.