September 28, 2017 / 7:35 AM / in 10 months

IK Investment Partners to sell cleantech firm Evac to Bridgepoint

STOCKHOLM, Sept 28 (Reuters) - Private equity firm IK Investment Partners said on Thursday it was selling Finnish cleantech firm Evac to private equity funds managed by Bridgepoint.

* Evac sells friendly waste and wastewater collection and treatment systems for the marine, offshore and building industries

* IK’s VII Fund acquired Evac in December 2014

* IK says: “In the course of the Fund’s ownership Evac has achieved strong growth, with company turnover increasing by 55% exceeding MEUR 100 for the first time in the company’s history”

* Says financial terms of the transaction are not disclosed

* Says completion of the transaction is subject to legal and regulatory approvals

* Danske Bank, Carnegie, Alantra acted as financial advisors for IK, Roschier was legal advisor, Roland Berger did strategic vendor due diligence, while EY did financial vendor due diligence

* Link to statement: here (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

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