The shareholders in Diamorph AB (publ), with Serendipity Group AB, Serendipity Ixora AB and Investment AB Latour (publ) as majority shareholders, have entered into an agreement to divest all of their holdings in Diamorph to the British private equity firm Epiris through Epiris Fund II. The transaction value amounts to between SEK 1.4-1.5 billion.
Diamorph, founded by entrepreneurs Ashkan Pouya and Saeid Esmaeilzadeh about 15 years ago, is a supplier of advanced material solutions for demanding and safety-critical applications. Diamorph is the market leader in a variety of niche applications, ranging from rollers used in ceramic tile kilns, through bearings and insulators used in traditional and renewable energy generation and distribution, to rotor vanes and other composites used in pumps and compressors.
The transaction is scheduled to complete in January 2019, subject to certain conditions.
Baker McKenzie acts as legal advisor to the shareholders of Diamorph in connection with the transaction. The Baker McKenzie team is led by Anders Fast and Anna Orlander with support from Erik Holmgren, Alex Ydstie and colleagues from London, Prague and Chicago. Ropes & Gray acts as legal advisor to the buyer.