FSN Capital acquires Aura Group AB from Bridgepoint

Press release April 26, 2006

Aura, the Swedish long life lighting manufacturer, has been sold by Bridge-
point to Nordic mid-market private equity investor FSN Capital Partners AS.

Aura’s principal activity is the development, manufacture and sale of long life fluorescent lamps for industrial and commercial use, although it also sells and distributes other lighting products. The long life and high reliability of Aura’s lamps means customers have to replace lamps less frequently, offering customers significant savings in re-lamping costs.  Aura’s lamps are therefore particularly suited for use in diverse difficult to access locations and in hostile environments.  Example applications include outdoor signage, oil rigs, tunnels, clean rooms, cold stores, warehousing, and high ceiling factories and production areas.

Aura’s headquarter and main sales office is based in Stockholm, its manufacturing facility is located in Karlskrona in Southern Sweden and it is represented in 20 other countries including the US.  The company, which employs 160 staff, has grown by more than 60% to SEK 49 million in 2005.

“Management in Aura has done a tremendous job in developing the company in recent years. We look forward to actively support this enthusiastic management team in the further international expansion” says Thomas Broe-Andersen of FSN Capital Partners AS.

According to Bridgepoint Partner Graham Oldroyd, Aura has been a successful investment that has enjoyed strong growth in sales and profitability. “Aura has enlarged its customer base, has expanded its sales inside its core Nordic market and in Germany, the rest of Europe and into the US, and has introduced important new long life lamp variants, building a strong base for future further development.”

Aura Chief Executive Svante Lundbrink added: “Under Bridgepoint ownership our business has strengthened its position as the world market leader in the development, sale and manufacture of long life fluorescent tubes.  We have internationally recognised products which offer our customers significant advantages, and many new market opportunities.  Another chapter in the Company’s history now begins with the transfer of ownership to our new partner, FSN Capital Partners AS, supporting the existing management team in leading the further growth in the business.”

Debt was provided by HSH Nordbank, Copenhagen Branch

Advisers involved in the transaction were: for Bridgepoint – MCF Corporate Finance, Vinge Advokatbyrå (legal), Ernst & Young Stockholm (financial), Oxdonian (vendor market due diligence), Halcrow Group Limited (environmental); for FSN Capital Partners AS – Icon Investment Banking (corporate finance), Hamilton Advokatbyrå (legal) and Deloitte (tax and financial).

The investment in the Aura Group AB is FSN Capital’s third investment in its second fund and the second investment in Sweden. On March 30, 2006, FSN Capital acquired Alignment Systems AB with its main offices in Kungsør.

For further information:

James Murray
Bridgepoint
Tel: +44 207 374 3670
Mob: +44 7802 259761		 Graham Oldroyd
Bridgepoint
Tel: +46 8 545 168 20
Mob: +46 8 611 33 01		 Frode Strand-Nielsen
FSN Capital Partners AS
Mob: +47 917 31 364
Thomas Broe-Andersen 
FSN Capital Partners AS 
Mob: +47 974 97 490  
Mob: +46 70 626 0920		 Svante Lundbrink
Aura Group
Tel: +46 8 564 88 340

Notes to Editors:

1. Bridgepoint is a European private equity firm focusing on the acquisition of companies valued up to €750 million. With €6 billion under management, it typically focuses on acquiring well managed companies in attractive sectors with the potential to grow organically or through acquisition.  In 2005 Bridgepoint completed the €2.5 billion fundraising for its third independent fund.  For further information see www.bridgepoint.se

2. FSN Capital Partners AS is an independent mid-cap buy-out group with focus on the Nordic region. Typical acquisitions targets are Nordic industrial, consumer goods and service companies with proven products and technology and well established market positions. The team raised its first fund; FSN Capital I (€ 54 million) in 2000 and has now raised its second fund, FSN Capital II, with a committed capital of € 150 million.  For more information about FSN Capital, please visit our web site www.fsncapital.no

3. Aura Group AB: further background on Aura’s products, the history of the Company and its office network is detailed on the Company’s website www.auralightgroup.com

Press Contact

Martin Malmros

CEO, Aura Light International AB

Telephone
+46 (0)8-564 88 340