Herkules acquires Bandak
Herkules Private Equity Fund III is set to acquire 62 percent of Bandak Holding AS.
Bandak Holding consists of a group of Norwegian machining companies that focus on the production of mechanical engineering products for domestic and international sales and technology companies. Bandak mainly produces for the oil & gas and renewable energy sectors, and has grown substantially both organically and through acquisitions over the last couple of years.
The transaction will be a combination of partly acquiring existing shares and partly injecting capital through a new share issue, taking the Herkules' ownership to 62 percent.
Completion of the deal is expected following approval by the Norwegian competition authorities
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| Fund | Herkules III Argentum share 5% |
| Portfolio Company | Bandak |
| Date of Transaction | 2009-12-10 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | Other |
| Geography | Norway |
| Stage | Small/mid-cap buyout |