PE Deals

Altor Equity to take 80% stake in Kommunalkredit

Altor will partner with Kommunalkredit's existing owners and its management. 

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  • Kommunalkredit is a provider of financing products to infrastructure and energy projects across Europe
  • The firm’s existing stakeholders will maintain minority stakes
  • Altor Equity Partners makes investments in medium-sized companies

Altor Equity Partners has agreed to acquire an 80 percent majority stake in Kommunalkredit Austria and will partner with the current owners and the bank’s management.

Kommunalkredit is a provider of financing products to infrastructure and energy projects across Europe. The firm is headquartered in Vienna, Austria. The firm is expected to deliver over €120 million in net interest income in 2022 and has had a compound annual growth rate over 50 percent during the last few years.

This acquisition will enable Altor to assist Kommunalkredit with capital and expertise to continue its growth trajectory towards becoming a sustainable infrastructure bank in Europe, according to a release.

“Kommunalkredit has a unique position as financing partner to some of the most prominent green transition ventures and we believe that we jointly can build the European champion within sustainable infrastructure financing,” said Paal Weberg, co-managing partner at Altor. “Altor will support Kommunalkredit with capital and resources to strengthen its capabilities, building on our experiences from investing in other leading financial institutions and green transition champions.”

Kommunalkredit’s existing stakeholders – Interritus, Trinity Investments DAC and the Austrian Association of Municipalities – will maintain minority stakes in this firm.

“This is a major step towards our jointly envisioned growth path as well as confirmation of our successful business strategy which will be further strengthened by this transaction and the targeted €100 million capital increase,” said Bernd Fislage, CEO of Kommunalkredit.

Altor makes investments in medium sized companies, predominantly in the Nordics. The firm has invested in over 85 companies and is headquartered in Stockholm, Sweden.