DECEMBER 08 2023
Concluding a three-year ownership period, Nordic Capital recently announced the agreement to sell of Consilium Safety Group. Amid this transition, Philip Isell Lind af Hageby, CEO of Consilium, looks back on the partnership, highlighting major milestones and the Company’s profound transformation into an innovative global leader within SafetyTech.
On November 20, Nordic Capital announced a definitive agreement to sell Consilium Safety Group to a wholly-owned affiliate of Antin Infrastructure Partners’ Flagship Fund V.
This marked the culmination of a successful three-year partnership. Over this period, Nordic Capital worked closely with Consilium’s management team to execute on the Company’s core strategy to further develop its customer offering within SafetyTech. As a result of significant and targeted investments into R&D and innovation, expansion of the product and aftermarket offerings and, commercial initiatives to increase digitalisation and refine operations, Consilium has since developed into a more integrated, efficient, and connected organisation.
During Nordic Capital's ownership period, Consilium Safety Group became:
- A global innovation leader within SafetyTech, specialising in intelligent Fire, Flame and Gas detection in the marine, energy, transport and building sectors.
- A stand-alone company, committed to ensuring customer safety.
- A leading provider of mission-critical infrastructure in highly demanding and regulated end markets, with a premier standard of global service coverage.
- A professionalised organisation that effectively leverages its innovative technology and service platform to expand its top-tier offering to make a lasting, positive impact and continue protecting lives, values and the planet.
- A thriving entity, with revenues soaring from SEK 1.4 bn to SEK 2.5 bn and profits nearly tripling.
- A company poised for further international growth and innovative product development.
CEO Philip Isell Lind af Hageby commends Nordic Capital's astute long-term perspective on value creation, positioning Consilium optimally for its next phase under new ownership.
- What was it like to get Nordic Capital as new owners in 2020?
Before Nordic Capital took ownership, Consilium was merely a division of a Nasdaq Stockholm-listed company, not receiving the necessary attention or financial support to develop and reach its full potential. Upon carving out Consilium, Nordic Capital not only introduced an ambitious value creation plan but also provided the resources needed for growth acceleration and long-term, expansionary investments. Their Operations Team further offered comprehensive guidance and hands-on support, genuinely assisting us in executing the value creation plan and strategic initiatives to propel the company forward.
- Describe the partnership between Consilium and Nordic Capital?
It's been a genuine team effort! There has been perfect alignment on approach and strategy to reach our targets between Nordic Capital, the board of directors, and the management team. Nordic Capital was clear on the vision to realise Consilium's full potential and granted the management team autonomy to operate the company based on the corporate strategy and value creation plan.
Throughout the journey, Nordic Capital's dedication, pragmatism, and support in building a robust and exciting company have been invaluable. As CEO, I greatly appreciated their support, expertise, and long-term perspective on value creation.
- What has Nordic Capital contributed with to create genuine value?
Their contribution is a blend of several elements, including subsector knowledge, relevant experience, extensive network, and resources. Key contributions also came from Nordic Capital's Operations team, providing guidance and strategic sparring with the management team.
In addition, the support from Nordic Capital's ESG team has been instrumental in our journey to becoming a sustainability champion within the industry. This commitment was recently acknowledged when we received a silver medal from EcoVadis. We now set our sights on achieving a gold medal by 2024.
- What achievements are you the most proud of during Nordic Capital’s ownership tenure?
That we have almost tripled our profits since 2020, and most of this has come through organic growth.
- What has Nordic Capital done to favourably position Consilium to continue its growth journey as it embarks on an exciting new phase?
From the onset of our partnership, we began visualising the target state and forthcoming equity story. This vision helped us build a solid platform for growth and prepared us for continued success post Nordic Capital’s ownership. Nordic Capital's support and their knack for making correct, long-term decisions that benefited not just them but the next owner too, left a lasting impression on me.
When Consilium joined forces with Nordic Capital, the Company was underinvested. Since, we have managed to build a robust, scalable organisation capable of accelerating growth under our new owner, organically and through acquisitions. Significant investments were made to expand our global service coverage, advance product development, and insource manufacturing and key products, strengthening our value chain control and IP ownership.
These actions, among others, have prepared us for an exciting future. We're eager to continue our journey towards reaching our full potential and becoming the undisputed leader in Safety Tech. We're ready!
