Rite-Hite sells Caljan to Swedish Latour
Frankfurt/Stockholm/Boston — Alantra, a global investment banking and asset management firm focused on the mid-market segment, has advised US-based family-owned Rite-Hite, on the sale of Caljan, a leading international provider of automation technology for e‑commerce applications, to private equity firm Investment AB Latour (“Latour”). As part of the transaction, Alantra had the exclusive M&A advisory mandate and conducted a competitive international auction process. The closing of the transaction is subject to EU merger control approval.
Caljan is the market leader in automation technology for parcel handling in the logistics and e‑commerce sectors. The product range includes telescopic conveyors, automated document handling and labeling solutions, and automation solutions for parcel delivery bases. Founded in 1963, the company is headquartered in Denmark and has subsidiaries in Germany, France, the UK, Latvia and the USA. Net sales are around 100 million euros, with an operating margin of over 15% and strong growth. The company employs 450 people.
“We are very pleased with the outcome of this transaction and are convinced that Latour is the right partner for Caljan and all of its employees. Alantra‘s sector knowledge, expertise in the Scandinavian markets, and close and through support from experienced staff were critical to the success of this transaction,” said Paul Maly, CEO of Rite-Hite.
Henrik Olesen, CEO of Caljan, added: “We have worked intensively with Alantra’s experts for much of 2019. Their deep sector knowledge, understanding of our business, and commitment have been a great help throughout the sales process. In particular, we were impressed with how Alantra’s global sector experts worked as an integrated team with Alantra’s Scandinavian and US offices.”
Frank Merkel, Managing Partner at Alantra, said, “We are proud to have been selected as advisors to Rite-Hite in the sale of Caljan. Following the sale of Transnorm last year, this transaction represents another milestone for our Industrial Automation & Machinery Practice and highlights our deep sector expertise. We wish Caljan well on its journey as part of Latour.”
The sales process was led by the Industrial Automation & Machinery team in Frankfurt together with Alantra’s office in Stockholm. The team was supported by international Alantra offices in approaching local buyers.
Alantra is a global investment banking and asset management firm focused on the mid-market segment with offices in Europe, the US, Asia and Latin America. With over 330 experts, the Investment Banking unit provides independent advice on M&A, corporate finance, loan portfolios and capital market transactions. The Asset Management unit manages assets of around 4.5 billion euros in the asset classes private equity, active funds, private debt, real estate and wealth management. www.alantra.com.