STOCKHOLM, Sweden, Aug. 06, 2004 (PRIMEZONE) -- The Accent Equity 2003 fund was officially closed as scheduled on July 31 at EUR 250 million. The fund was oversubscribed by EUR 50 million reaching its hard cap, indicating a strong interest from international investors. Nordic investors that have invested in previous Accent funds subscribed for approximately EUR 100 million. New investors from Europe (France, Luxemburg, the Netherlands, Germany, Switzerland, the UK and Scotland) and the USA subscribed for the remaining EUR 150 million.
Accent Equity Partners is the adviser to the new fund as well as to former Accent Equity funds. "Our objective is to further strengthen our position as the long-term leader in the Nordic lower private equity mid-market," says Jan Ohlsson, CEO of Accent Equity Partners. "It is therefore with great pleasure I see all these new top-tier financial institutions as investors. By continuing to create top-quartile returns we hope to gain their trust also for consecutive Accent Equity funds."
The Accent Equity 2003 fund has completed three investments since its first close in the autumn of 2003. The first investment was Cefar, a medical equipment company in Lund, southern Sweden. The second investment was Wernersson Ost, a cheese wholesaler in Ulricehamn, western Sweden. The third and just recently closed investment was Jotul, a Norwegian manufacturer of stoves and fireplace surrounds.
Accent Equity 2003 invests EUR 5-30 million in mature Nordic manufacturing and service companies with motivated management teams and large growth potential. Headquartered in Stockholm, Sweden, Accent Equity Partners has nine partners and has previously managed six lower mid-market private equity funds with focus on the Nordic market.
For further information, please contact Jan Ohlsson (CEO) at +46 70 515 69 15.
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