Sixth AP Fund divests stake in Power House Holding
The Sixth Swedish National Pension Fund (Sixth AP Fund) and has sold its stake in Power House Holding AB to Öckeröborgen AB.
Power House Holding is one of Europe’s largest wholesalers of Volvo Penta products and supplies a global network of Volvo Penta dealers. The company is also the Swedish agent for one of Europe’s largest wholesale organisations for Mitsubishi Marine Gensets.
The Sixth AP fund made its initial investment in Power House Holding in 2008 and held 42% of the company at the time of its divestment. The Sixth AP Fund invests in unlisted companies, partly indirectly through funds, partly through direct investment, together with financial and industrial partners, primarily in Sweden and other Nordic countries.
The Sixth AP Fund was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Clas Nyberg, assisted primarily by Emma Olnäs Fors.