Private equity firm Verdane has sold Swedish metal treatment firm Scanacon to Alder, a Nordic investment fund.
Scanacon is headquartered in Stockholm and provides acid management systems used in metal production. Its products and services include acid filtration, acid-metal separation and acid analysis equipment which are used to produce stainless steel, special metals and aerospace components and medical protheses from titanium.
The company has offices in Sweden, the US and China and has an annual turnover of approximately 150 million SEK (£12.9 million). It has 40 employees.
Verdane acquired a majority stake in Scanacon in 2012 and during its ownership period the business expanded its range of products and developed its after-sales service into a significant and more stable revenue source.
Per Nordlander, Partner at Verdane and member of the Scanacon board, said: “It has been a pleasure to work closely with CEO Stig Lundström and his management team. They have driven the development of Scanacon above expectations and we believe that Alder will be a good owner for the continued journey.”
Stig Lundström, CEO of Scanacon, added: “I and the rest of the team are grateful to Verdane for their contributions over the past six year. We are excited about the opportunity to further develop Scanacon together with our new owners at Alder, who also are focused on sustainable technologies, and have a proven broad and deep competence in these areas. We have an ambitious plan to develop new technologies and segments to further grow the company.”