Alantra advises Northern European private equity firm FSN Capital on the sale of Skamol, a Danish niche-insulation systems expert

Mar 2023

Sell-Side advisory

Denmark – Alantra, a leading global investment bank and asset management firm, has advised Northern European private equity firm FSN Capital, Danica and Pensam on the sale of Skamol, a leading niche-insulation systems provider of branded calcium silicate and vermiculite-based products, to Etex, a global building material manufacturer.

Established in 1999, FSN Capital is a leading Northern European private equity firm with DKK 25bn under management, with offices in Oslo, Stockholm, Copenhagen, and Munich. Danica and Pensam are two of the largest pension funds in Denmark, with funds totalling DKK 450bn and DKK 180bn, respectively.

Skamol is the leading niche-insulation systems provider to more than 1,000 customers, across more than 70 countries, within the building and industrial sector. With over 100 years of accumulated know-how and expertise in diversified material handling and application, Skamol has become the preferred systems provider of calcium silicate and vermiculate-based systems for applications such as indoor climate, passive fire protection, heating system, and industrial technical insulation.

Etex is a global building material manufacturer and pioneer in lightweight construction. Established in 1905 in Belgium, Etex is a publicly listed, family-owned company with over 13,500 employees across 140 sites and 45 countries.

Nicholas Hjorth, Principal at FSN Capital, said: “We appreciate our relationship with the Alantra team, and this transaction represents another great example of the fruitful outcomes that follow from commitment, relentless focus on quality and efficient teamwork.”

Sebastian Hougaard, Managing Partner at Alantra, added: “It has been great to work together with FSN Capital, Danica and Pensam as well as with the very talented management team of Skamol on this exciting transaction. We have been highly impressed by the development of Skamol and are convinced that Etex is the right new owner, with a strong strategic logic that will enable the company to continue delivering on its vision.”

Alantra’s Nordic team provided sell-side advisory to FSN Capital, Danica and Pensam, delivering a highly competitive process under demanding circumstances, enabled by value-adding insight to secure a successful exit for the owners.