The leading Danish/Swedish investor in middle market private equity deals, Polaris Private Equity has acquired the world creator and maker of systems for professional floor grinding and floor solutions, HTC Sweden AB.
Polaris bought HTC from Hakan Gunn Thysell. In 1987, Hakan Gunn founded HTC and have remained to own 60% shares in the company, making them the majority stakeholders. The 40% remainder was held by its former management and has liquidated their share in the company to Polaris at the sixth platform investment at the start of 2012.
HTC, whose headquarters is located at Soderkoping, Sweden, has been growing continuously over the past years and still aims to expand into new market locations and introduce new products. It employs 165 people with subsidiaries in France, Germany, United Kingdom and United States with additional coverage to 60 other countries through its distributors.
"HTC has seen a strong expansion in recent years, with both the Twister and Hardware divisions contributing positively to top-line growth and earnings. Having Polaris as a new owner will give us wider access to the skills and capital resources required for the company to reap the benefits from the next stage of development which includes increased penetration and several near term growth venues," HTC Chief Executive Officer Lars Landin said.
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