t ransact ions clYDE BloWErs cApItAl sAlE of clYDE

uNIoN pumps to spX clyde Blowers capital, the industrial investment fund has successfully reached an agreement to sell its international clyde union pumps group to American fortune 500 company spX corporation (“spX”), with Dundas & Wilson as lead legal advisor to clyde Blowers capital. The deal involved SPX agreeing to

acquire Clyde Union for a headline price of £750m ($1.25bn) - £700m of which will be in cash at completion and £50m subject to an earn out dependant on future performance.

Dundas & Wilson’s corporate team,

headed by Partner Graeme Bruce, was appointed by Scottish entrepreneur Jim McColl in 2007 to work with his organisation through a transformative phase of international growth.

Jim McColl, Chairman and CEO of Clyde

Blowers Capital, added: “This was a very complex deal with a number of challenges and we are delighted with the result. Dundas & Wilson have been at our side all the way and we greatly value their support through both the creation of our fund and execution of its various deals, culminating in today's announcement.”

Clyde Union will continue to be run as a

standalone business with a head office in Glasgow, under the leadership of the same management team.

The purchaser, SPX, is a publicly-traded

multi-industry global engineering solutions company with annual revenues of $5.5bn, employing over 15,000 people in 35 countries. It is headquartered in North Carolina. fi

spoNsor cApItAl, vArmA AND othErs EXIt luJApAlvElut oY to coor

sErvIcE mANAgEmENt coor service management (coor) is taking a decisive step in finland by acquiring the facility management- company lujapalvelut oy. this transaction strengthens coor’s position as a full-range service management company in fm services and industrial service, with the capacity to support private corporations and public bodies nationwide in finland. Lujapalvelut Oy is a professional services

provider, delivering FM-related services such as building maintenance, cleaning services and office services to other businesses and public bodies.

The acquisition means Coor is significantly

consolidating its position in Finland, with annualized sales of some EUR 50 m and over 850 employees.

“We’re delighted about this deal.

Lujapalvelut Oy is a well-managed services provider with a high level of competence, bringing us the strength and geographical coverage we need. We will keep developing our Finnish business with the ambition of delivering good and value-added services to the Finnish private and public sectors, and providing our clients with continuous improvements in our service delivery,” commented Ulf Wretskog, President of Coor in Finland.

“In Coor, we’ve found an industrial owner

that will be able to keep developing Lujapalvelut’s business, customers and employees positively. The companies have the same high ambition and businesses that complement and strengthen each other,” responded Juuso Kivinen, Partner at Sponsor Capital Oy, principal owner of Luja-palvelut Oy. “Coor´s sharp focus on continuous

improvements gives us even better possibilities to offer value-added and sustainable services to our customers, which strengthen our competitive advantage,” commented Johan Mild, CEO of Lujapalvelut Oy. fi

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27

sENtIcA pArtNErs sElls corBEl oY to vAlEDo

pArtNErs A fund managed by the finnish private equity investor sentica partners has sold corbel oy to a fund managed by valedo partners. the operative management of corbel oy remains as minority shareholders in the company. Corbel has grown successfully by tens of

percents and strengthened its overall market position during the ownership period of Sentica Partners.

Sentica Partners became a majority

owner of Corbel in connection with the acquisition of YIT Oyj’s property management related business in July 2008.

“Corbel has developed strongly during

our ownership period. Our cooperation with the management has been successful and we expect to see a bright future for the company under the majority ownership of Valedo. We are very pleased with our investment in Corbel”, says Johan Wentzel, investment director at Sentica Partners.

Corbel

independent provider of professional business‐to‐business

is the market leading real estate

management services to institutional and commercial real estate owners in Finland. Corbel has some EUR 8 billion in property value and almost 6 million square meters in total floor area under management. In 2010 Corbel generated some EUR 11 million in revenue and employs approximately 120 persons in 11 locations nationwide.

Valedo is a growth‐oriented Swedish

private equity fund investing in small and mid‐sized companies in Sweden and the rest of the Nordic region with distinct growth and development potential. fi

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 www.finance-monthly.com

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 OCTOBER 2011