Alantra advised Priveq and SEB Venture Capital on the sale of Crem International to Welbilt

Feb 2018

Sell-side advisory

Alantra has advised Priveq Investment fund IV L.P, SEB Venture Capital and its other shareholders on the sale of Crem International, a global leader in professional coffee machines to Welbilt Inc. for a total consideration of SEK 1,800 million (approximately USD 224 million). The transaction is subject only to customary regulatory approvals.

Crem International is a global leading manufacturer of professional coffee machines with more than 50 years of experience in the market and sales in more than 80 countries. Crem is headquartered in Solna, Sweden, and has three manufacturing sites in Åmotfors, Sweden, Gandia, Spain, and Shanghai, China. These plants are supported by three R&D centers and six sales offices. Crem develops, manufactures and markets coffee machines under three brands: Coffee Queen®, Expobar® and Spengler for use in offices, restaurants, cafes and coffee shops, catering and convenience stores. The company is headed by a dynamic management team, which has developed the company from an entrepreneurial led business into professional global platform with an innovative and competitive product portfolio with strong future growth potential. Crem generated sales of SEK 767 million, or approximately USD 90 million, with strong profitability in 2017.

“Alantra ran a highly competitive and very well structured process, leading to an outstanding result for Crem and its shareholders. Looking back, we are convinced that Alantra was the best solution for us and we are extremely pleased with the advice and support that we have received.”, commented Karl-Johan Willén, partner at Priveq Advisory AB, acting in its capacity as Adviser to Priveq G.P. IV Ltd, being the general partner to Priveq Investment Fund IV L.P.

“When selecting our financial advisor for the sale of Crem, we were looking not only for a global firm with relevant sector expertise and access to the relevant industrial buyer universe, but also for the right team that could support us through a very intense and demanding process. The entire management group of Crem has been impressed by the quality of services and responsiveness provided by the Alantra team in this project.”, commented Sebastian Lindström, CEO of Crem International.

Welbilt, is a leading global provider of foodservice equipment listed on NYSE. It provides the world’s top chefs, premier chain operators and growing independents with industry-leading equipment and solutions. Headquartered in the Tampa Bay region of Florida and operating 17 manufacturing facilities throughout the Americas, Europe and Asia, the company sells through a global network of over 3,500 distributors and dealers in over 100 countries. Welbilt has ca. 5,400 employees and generated sales of $1.45 billion in 2017.