iLOQ’s main shareholders have today signed a contract for the sale of iLOQ to a company that is majority-owned by Nordic Capital Fund IX.
Th final purchase price for the shares is £165m. The transaction is subject to the approval of the necessary competition authorities. The transaction is expected to close in 2019.
“Nordic Capital is an ideal new owner to support the company’s growth strategy and efforts to grow its business in global markets. This will also strengthen the company’s position and increase its reputation among the various stakeholders in the company,” said Harri Takanen, Chairman of the iLOQ’s Board
Robert Furuhjelm, Partner and Head of Finland, Nordic Capital Advisors commented: “iLOQ is a fast-growing company with revolutionising solutions with high expansion potential, driving a structural shift from mechanical locks to mechatronic or digital solutions. iLOQ’s patented solutions offer a strong value proposition to its customers, and the company has a promising innovation pipeline. We are highly impressed with management’s strong trackrecord of successfully growing the business and look forward to further supporting the company’s development and international expansion.”