In October, 2016, PCP provided a senior secured term loan of SEK 150 million to Scandector AB (“Scandector”). The proceeds from the financing were used to finance the acquisition of 50% of the German based company Erich Utsch AG (“Utsch”).
Holding company Scandector is the principal owner of Scandinavian Motorcenter AB, which manufactures all license plates in Sweden and Norway. It is also 50% owner of the Scandinavian car transportation group Nordic Car Logistics AB. Scandector is privately owned by the founding family.
With more than 50 years of experience, Utsch is a world market leader in blank license plate production and technology, producing some 30 million blank license plates annually. Utsch also manufactures and sells the machines used in plate production. The group has a global presence with business relations in over 130 countries.
PCP sees Scandector as an attractive credit opportunity, based on its strong performance and diversified asset base, and will work as a long-term partner to the owners in all of its three business segments.