Francks Kylindustri was acquired by Segulah

Francks Kylindustri, a Norrköping, Sweden-based company providing solution within industrial refrigeration and heating, announced that private equity company, Segulah, through its fund Segulah V L.P. has entered into an agreement to acquire Francks Kylindustri AB from the Francks family and CEO Per Hannius.

The financial details of the deal were not disclosed. Both current Chairman Göran Franck and CEO Per Hannius will remain as shareholders alongside Segulah.

Francks Kylindustri, founded in 1950, undertakes complex refrigeration installations in a number of industries. The company has a tunrover of about SEK 450M ($50M) and employs 200 people based in Norrköping and ten other locations from Ludvika in the north to Helsingborg in the south.