The Sixth Swedish National Pension Fund invests in Salcomp and enters into a partnership with Nordstjernan
The Sixth Swedish National Pension Fund invests in Salcomp, a world leading manufacturer of chargers for mobile phones, tablets and other mobile devices. With the investment the Sixth Swedish National Pension Fund enters into a partnership with Nordstjernan, which remains the majority shareholder.
Nordstjernan has signed an agreement whereby the Sixth Swedish National Pension Fund (“AP6”) acquires, through a holding company, 45 percent of the shares in Salcomp Oyj (“Salcomp”). Nordstjernan remains the majority owner with 55 percent of the shares.
Salcomp is the world leading manufacturer of chargers for mobile phones, tablets and other mobile devices. The company has all major mobile phone and tablet manufacturers as customers. Salcomp’s product offering also includes chargers and adapters for notebooks, set-top boxes, smart watches, point-of sales devices, gateways, routers, monitors, as well as wireless charging solutions, data cables and LED lighting drivers. During the last twelve months, Salcomp had net sales of EUR 466 million and the net sales growth is expected to continue with a double digit number also in 2014. Salcomp has around 13,000 employees and production sites in China, India and Brazil. The company also has offices in Finland, Taiwan, South Korea, USA, Japan and Hong Kong in order to support its customers on a global basis.
– We believe that the investment will create long-term sustainable return for the pension system. Salcomp which today holds a leading position in the global market, has good growth opportunities in an expanding industry. We look forward to actively contributing to the development of Salcomp. We do this together with the company’s management and together with Nordstjernan, says Karl Swartling, CEO of AP6.
– Nordstjernan has been the majority owner of Salcomp since 2007 and we are very proud of the company’s strong development. The company has doubled in size since we became owner and we expect the growth to continue. We are pleased to now have AP6 on board as a partner in taking the next steps for Salcomp. The transaction is a good example of the global trend that pension funds are becoming more active by investing directly in unlisted companies. We look forward to working with pension funds on more transactions in the future, says Tomas Billing, CEO of Nordstjernan.
– Salcomp’s success is based on a true commitment to serving our impressive and global customer base, and the investment by a major Swedish pension fund is a testimony to our strong team, product capabilities, world-class operations and corporate social responsibility standards, says Markku Hangasjärvi, CEO of Salcomp.
The parties have agreed not to disclose the details of the transaction. The transaction is subject to approval from the relevant regulatory authorities.
Questions will be answered by:
Tomas Billing, CEO Nordstjernan
Tel: +46 8 788 50 18
Karl Swartling, CEO Sixth Swedish National Pension Fund
Tel: +46 70 874 10 48
Markku Hangasjärvi, CEO Salcomp
Tel: +358 40 731 01 14
Nordstjernan is a family-controlled investment company that creates growth in value through long-term and active ownership of Nordic companies. Investments shall be long-term. More information on Nordstjernan is available at www.nordstjernan.se
Sixth Swedish National Pension Fund (“AP6”) is a long-term and active investor in unlisted companies. AP6 uses its strength to invest both directly in companies and indirectly through funds. Direct investments are primarily done together with other financial investors, that share our values and have a long-term investment horizon. More information on AP6 is available at www.apfond6.se/en/
Salcomp (“Salcomp”) develops and manufactures chargers for mobile phones and other electronic devices. The company is the market leader in mobile phone and tablet chargers, and the main customers include the major mobile phone and tablet manufacturers. Power adapters based on Salcomp’s own product platforms are suitable also for tablets, notebooks, gateways, routers, set-top-boxes, lighting and other electronic applications. More information on Salcomp is available at www.salcomp.com