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10 Apr 2019

MCF supports FSN Capital Partners and Rameder in the acquisition of Koukkupaja Oy and Felox Finland Oy

Rameder Group (“Rameder”), a leading European distributor of tow bars, wiring kits and carrier systems has acquired a majority stake in the privately owned Koukkupaja Oy (“Koukkupaja”), a leading Finnish group operating a network of tow bar fitting centres, and Felox Finland Oy (“Felox”), a former distributor of tow bars. Rameder is a portfolio company of FSN Capital Partners (“FSN”) and MCF acted as financial adviser to FSN. Following the acquisition of Rameder by FSN in late 2018, as well as the recently announced add-on acquisition of Dragkrokslagret in Sweden, this transaction represents MCFs 3rd successful mandate for FSN and Rameder.

MCF acted as financial adviser to FSN and this transaction represents MCF's 3rd successful mandate for FSN and Rameder.

The Deal

Founded in 1996 and headquartered in Leutenberg, Germany, Rameder is the leading European distributor of tow bars & wiring kits as well as carrier systems. The company offers products to B2B and B2C customers through its own online shops, as well as through online market places such as eBay and Amazon.

MCF established the contact with the two target shareholders in late 2018 and accompanied the process from the first contact to signing, facilitating the communication between buyer and seller. In this transaction, Rameder acquired a majority stake in Koukkupaja and Felox, with the two shareholders continuing to take active part operationally in the respective business’, as minority shareholders.

Koukkupaja and Felox together operate a network of 17 tow bar fitting centres across Finland and this transaction provides a good growth platform for Rameder. Together with the recent acquisition of the Swedish market leader Dragkrokslagret, Rameder continues to strengthen its footprint in Northern Europe. With the support of FSN, Rameder will continue to accelerate growth organically, as well as through M&A activities to further cement its market leading position in Europe.

The Target

Koukkupaja was founded in Oulu in 2009 and is the leading tow bar installation point chain in Finland. The company also sells and installs tow bars and parking sensors as well as trailer wiring harnesses for most of the general car brands. Together with Felox, Koukkupaja operates 17 installation centres across Finland.

About FSN Capital Partners

Established in 1999, FSN Capital is one the most active private equity investors in Northern Europe with EUR 2.125bn under management and 18 active investments. FSN focuses on majority positions in mid-market companies with enterprise values ranging from EUR 50m to EUR 300m, operating within the Consumer & Retail, Industrial, Business Services and Digital sectors. Supported by a range of leading Nordic and international institutions the FSN Capital Funds follow a responsible and long-term investment approach.