Nefab founding family buys Nordic Capital stake, dashes IPO hopes

STOCKHOLM, Sept 5 Fri Sep 5, 2014 6:21am EDT

STOCKHOLM, Sept 5 (Reuters) - The founding family of Swedish packaging firm Nefab has agreed to buy private equity firm Nordic Capital's majority stake in the company and said on Friday there were no plans for an initial public offering of the firm in the near term.

Nefab, which had sales of about 3 billion Swedish crowns ($424 million) last year, was taken private from the Stockholm stock exchange by Nordic Capital and the Nordgren/Pihl family in 2007 and had been seen as an IPO candidate for years.

"Given our ambitions for the company's future development we believe that continued private ownership is favourable for Nefab right now," Ing-Marie Nordgren, member of the founding family and a board member of Nefab, said in a statement.

Terms of the deal were not disclosed. (Reporting by Sven Nordenstam; editing by Niklas Pollard)