Our Investment Criteria
Subsidiaries of AURELIUS Equity Opportunities are supported by experienced AURELIUS managers who provide investee companies with the opportunity and potential to enhance market growth and competitiveness to the benefit of their employees, customers, distributors, and shareholders.
The right acquisition strategy leads to success
For the purpose of identifying suitable acquisition targets, AURELIUS Equity Opportunity makes use of a broad network of decision-makers in corporations as well as M&A consultants and investment banks.
In total, the company’s acquisition specialists identify several hundred potential takeover candidates each year, of which around 10 to 15 percent undergo a detailed assessment.
AURELIUS Equity Opportunity conducts this due diligence process with internal and external experts in the fields of mergers and acquisitions, law and finance. This way, the company assures prompt and efficient due diligence at a consistently high level.
As an active investor with a long-term investment horizon, we are searching for European corporate spin-offs and medium-sized enterprises with the following characteristics:
- growth potential given close operational assistance;
- below-average profitability;
- synergies to existing platform investments.
We do not focus on particular industrial sectors when selecting our acquisition targets, although we do concentrate primarily on the following segments:
- IT & Business Services
- Industrials & Chemicals
- Lifestyle & Consumer Goods
Further investment criteria:
- Revenues between € 50 million and € 1 billion
- EBITDA margin up to 15% (in exceptional cases also negative)
- Majority interests acquired, 100% holdings targeted
- Transaction volumes up to around € 250 million
- Equity investment of € 5 – 80 million per deal
- Flexible contract structures in line with the seller’s wishes are possible
AURELIUS NORDICS is a hands-on proactive and supportive operational investor with a long-term investment horizon
- We employ a team of approximately 100 operational managers, and consultants to help deliver real operational improvement - not financial re-engineering. Operational managers can join portfolio companies on a full-time basis, if required
- Our portfolio companies are sustainably developed by operational support in Sales, Marketing, Logistics, Procurement, Supply Chain, Production as well as Legal, Human Resources, Finance and Investor Relations
- For strategic bolt-on acquisitions, management is supported by our M&A team
Long-term investment horizon
- We invest the capital on our balance sheet (not investor’s money raised through funds) – this makes us a stable, bank-independent, long-term investor
- Long-term capital makes us patient providers of capital - we are not exit driven
- We fund deals on an ‘all equity basis’ without the need for third party financing
- Minimal external input required to complete: we have in-house legal and due diligence capability
- We are a highly experienced investment team with proven ability to transact at speed
Flexibility to vendor requirements
- Scope to accommodate minority shareholders, vendor loans, earn outs and deferred consideration structures
Over the past decade AURELIUS Group has invested in more than 60 companies across Europe. Our current portfolio companies employ more than 13,000 people, generating combined annual revenues in excess of €3,5 billion. Set out below are certain of our companies that have Nordic operations or that were acquired from Nordic-based corporations.
NDS is the second-largest automotive aftermarket wholesaler in Norway, with headquarters in Skytta near Oslo. NDS supplies its customers, typically automotive workshops, car dealerships and local wholesalers, with spare parts from its central warehouse in Skytta as well as from 19 branches across the country. In addition, NDS offers workshop franchise concepts to its clients under its own AutoMester brand as well as for third-party concepts such as Bosch Car Service. Within its AutoMateriell business segment NDS supplies workshop equipment of leading equipment OEMs such as John Bean and MAHA.» Website
Silvan is the leading do-it-yourself (DIY) retail chain in Denmark. Founded in 1968, Silvan offers a well-assorted product range for home fitting, repairs and maintenance. Silvan operates 42 DIY stores and one online shop in Denmark, making it one of the largest DIY retail chains in the Nordic region. Silvan’s stores are strategically located close to larger cities. They sell both building materials and garden supplies. Silvan enjoys the highest brand awareness and is the leading brand among DIY customers in Denmark.» Website
With distribution companies of its own in seven European national markets and extensive experience of all the key distribution channels and product categories, Conaxess Trade boast a genuinely unique distribution capability. As a result, it is able to provide the manufacturers of numerous internationally renowned brands with easy access to markets with a total of more than 130 million consumers. Conaxess Trade is a key partner to the retail trade, working closely together to develop effective growth initiatives. Conaxess Trade is headquartered in Denmark, with significant operations in all countries.» Website
Scandinavian Cosmetics & Engelschiøn Marwell Hauge (EMH)
Headquartered in Malmö and Oslo, ScanCo and EMH boast genuinely unique distribution capabilities for cosmetics in Sweden and Norway with own distribution capabilities and extensive experience of all the key distribution channels. As a result, they are able to provide the manufacturers of numerous internationally renowned cosmetics brands with easy access to markets with a total of 15 million consumers. ScanCo and EMH are key partners to the retail trade, working closely together to develop effective growth initiatives and have c. €100 million of sales annually.» Website
With about 900 employees in Germany, the Netherlands, Poland and India, brightONE provides modern technology and product development services, as well as trailblazing services in the area of cross-sector information and communications technology. The company has more than 30 years of experience in the areas of consulting, systems integration and product engineering in Central Europe. It was demerged from the Scandinavian Tieto Group and has been a member of the Munich-based AURELIUS Group from mid-2013 until the end of 2016.» Website
SECOP is a leading manufacturer of hermetic compressors for refrigerators and freezers, light commercial applications and 12-24-48-volt DC compressors for mobile applications. With production facilities in Europe and China, the company is known for its expertise in the design and development of high-performance, high-efficiency leading technologies. SECOP´s commitment to global sustainable refrigeration already made a difference in the 1990s as a pioneer in developing compressors working with hydrocarbons (R290 and R600a) and variable speed.
SECOP was acquired by AURELIUS from Denmark-based Danfoss, and has c. €380 million of sales annually.» Website
CalaChem Fine Chemicals is a leading producer of fine chemicals for renowned clients in the agrochemical, pharmaceutical and speciality chemical sectors. The company offers a range of services including manufacture, development and large-scale production. It also provides a range of services to other companies adjacent to its site in Grangemouth, Scotland. Before being acquired by AURELIUS, CalaChem was a subsidiary of the Finnish KemFine Group in 2009.» Website
Schabmüller develop, design and produce modern electrical drives and generators in PM synchronous, induction and direct current technology for mobile equipment. AURELIUS acquired the company from Sauer-Danfoss (Denmark) in 2007 and subsequently divested it in a sale to the ZAPI Group in 2012.» Website
At Aurelius Group we are always on the lookout for people who want more than just a job.
The continued development of our business heavily relies on us recruiting bright people able to source and execute investments as well as manage and restructure companies. We are a long-term investor and have the same commitment to our people. In our dynamically growing group, we offer employees a great career opportunity – whether you are looking for a role as an intern or managing director, lawyer or operational manager, Aurelius will be a GOOD HOME for your career.
AURELIUS’ experienced NORDIC team is dedicated to sourcing, executing and managing investments across Sweden, Finland, Norway and Denmark. We are supported by AURELIUS Group's executive, investment and operational teams.
For inquiries or discussions regarding investment opportunities, please contact:
Tel: +49 89 544 799 31
Tel: +46 8 446 835 96
AURELIUS NORDICS AB
114 36 Stockholm
Tel: +46 8 446 835 96