New main proprietor empowers long term growth of CTEK and Creator

Following the deal, which was finalized on 1 May, CTEK and Creator will merge to become an affiliated company and the current owner Bengt Wahlqvist will be appointed CEO. Allan Salåker will remain the managing director of Creator, as will Börje Maleus, the managing director of CTEK. FSNC will cooperate with CTEK and Creator in a strategic partnership which will inject financial and strategic power in order to raise the value of this newly formed affiliated company and prepare it for a potential future admission to the stock market.

FSNC now acquires 65 percent of the company's shares, whilst Bengt Wahlqvist keeps the remaining 35 percent. In addition to this, a new share issue is in the pipelines which will give employees the opportunity to acquire shares.

"It feels great that we have finalized this deal" says Bengt Wahlqvist, the founder of CTEK and who has, up until this acquisition, remained the company's owner as well as the chairman of the board. "Now we can be confident that our development will be a stable one and that we can continue to develop our pioneering products. Both the affiliated company and the two boards will greatly benefit from FSNC´s strategic expertise."

CTEK Sweden AB develops, manufactures and markets battery chargers for lead batteries. Today CTEK is a leading company on a global level and sells its products in 49 countries across the globe. The growth is approximately 40 percent.

Creator is a company which specializes in product development within industrial design, plastics, thin metals, electronics and mechanics, with a client list comprising many leading international companies. Unique in its kind, Creator offers development projects which involve following a product from the idea and drawings stage to prototypes, tests, certifications and full preparation for large scale factory manufacturing.

FSN Capital is a Nordic private equity firm with offices in Oslo as well as in Stockholm. Its focus is to invest in middle-sized companies with growth potential and function as an operational/financial partner with a focus on boosting growth. The investment span of FSN Capital usually stretches over five to seven years. This means that CTEK and Creator could be open to an introduction to the stock market in 2013.

FSN Capital sees big potential in its investment in CTEK and Creator.

"We are always looking for new opportunities to invest in middle-sized Nordic companies which are well looked after and have growth potential", says FSN´s partner Peter Möller. "CTEK and Creator are brilliant examples of companies which are currently developing in a healthy manner and which we can offer increased powers to reach their full capacity even more quickly and thus increase their growth in terms of sales. We are really looking forward to this cooperation."