The shareholders of Forchem Oy, which include the funds managed by Bio Fund Management, Profita Management, and OKO Venture Capital, as well as Finnish Industry Investment, Hannu Näsi and Martti Fredrikson, have signed a final agreement with MB Funds, a private equity firm, on the sale of Forchem. The shareholders state that the investment has been successful, and they are satisfied with the outcome of the transaction.
Forchem was founded in 2000 and has one of the world’s largest tall oil distilleries, which was completed in 2002. Forchem’s products are used in a wide range of chemical applications such as paints, coatings, fuel additives, adhesives, inks and paper chemicals. Forchem sells most of its products in the EU, where it is the market leader in tall resins. In 2006, Forchem’s estimated turnover was approximately EUR 77 million.
“We are very pleased that it was MB Funds that became the owner of Forchem. The experience and resources of MB Funds guarantee the development and position of Forchem’s business as one of the leading companies in the industry also in the future”, says Martti Fredrikson, President and CEO of Forchem. “Forchem has talented people, a respected brand and a well-known ability to meet customer needs. Our growth has been record-breaking, and we believe it will continue with the new owner”.
“In addition to the position already achieved in the tall oil business, MB Funds’ investment in Forchem is based on the completion of a sterol production project currently being planned. When implemented, we will achieve a very significant position in Forchem as a producer of sterol raw material in the world”, says partner Eero Niiva from MB Funds.
MB Funds is a private Finnish private equity investor that focuses on MBO arrangements, industry reorganizations, privatizations, and growth financing for established businesses in the Nordic countries. The funds managed by the company include the most significant Finnish institutional investors.
Access Partners acted as advisor to Forchem and its shareholders.
Martti Fredrikson, President and CEO, tel. +358 50 310 4400, Forchem Oy
Eero Niiva, tel. +358 40 556 4660, Partner, MB Funds
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