Polaris Private Equity acquires HTC Sweden
A private equity firm, Polaris Private Equity, acquired HTC Sweden AB. The acquired company is a floor grinding systems and surface preparation equipment manufacturer from Sweden.
Founders Håkan and Gunn Thysell sold their 60% stake in HTC to Polaris. Håkan and Gunn Thysell founded HTC in 1987. In addition, Polaris also acquired the remaining 40% shares of former HTC managers and 3i, a private equity firm.
Regarding the acquisition, a partner at Polaris, Peter Ankerst, said, "There are now exciting opportunities to transform HTC into a truly global leader in its field, and we look forward to helping the company deliver on these growth plans." In addition, Polaris would support the acquired company in an "ambitious growth strategy, based on organic and acquisitive expansion. The company will seek to consolidate its position in key geographies such as Europe and the US, as well as to extend its offering into emerging markets such as China and Brazil."
Meanwhile, HTC CEO Lars Landin said that Polaris would give the company wider access to skills and capital resources that would take it to the next stage of development. This next stage included "increased penetration and several near term growth avenues."