A private equity fund managed by Sentica Partners Oy, plus two other Finnish entities and Elematic Group management, has acquired controlling interest
CP Staff
A private equity fund managed by Sentica Partners Oy, plus two other Finnish entities and Elematic Group management, has acquired controlling interest in Elematic Oy Ab from Consolis SAS, which retains a minority stake. A global player in concrete batch plant equipment, precast formwork and hollow core machinery, Elematic reported 2005 revenues of about $68 million, up nearly 50 percent over the previous year. The new ownership structure means not only new opportunities and resources but also innovative ideas and a fresh approach to the development of our business and the entire industry. Management’s commitment to the company and confidence in its future are strong, notes Elematic CEO Leo Sandqvist.
Sentica Partners is the second European operator of its kind to invest in a global concrete plant equipment operator. Private equity fund Magenta recently took a 72 percent stake in Italy’s CIFA SpA.