On December 19, 2023, Altor PC AB (Altor), a company controlled by Altor Fund VI (No. 1) AB and Altor Fund VI (No. 2) AB, announced a public cash offer to the shareholders of Permascand. On February 5, 2024, Altor announced the completion of the public cash offer, whereby it acquires approximately 95% of the shares in Permascand. Settlement of shares tendered on or before February 2, 2024, is expected to commence around February 12, 2024. Altor will promote a delisting of Permascand’s shares from Nasdaq First North Growth Market.
Ever since Permascand was founded in 1971 they have built their business on technological excellence. Permascand is an independent technology-drive manufacturer of electrochemical solutions based on the Company’s proprietary catalytic coatings for clean tech applications. Permascand has supplied electrodes, electrochemical cells and aftermarket services to a variety of sectors for more than 50 years. Their headquarters are found in Ljungaverk, Sweden, with operations including research and development, technology development and production and with sales organisations in Sweden, Germany and North America.
“We are excited to embark on this journey together with Permascand’s management and employees. We are impressed by the quality of the company’s products as key components into different industrial processes. With hydrogen production as a key end market, the growth opportunity is very tangible, but will require significant expansion in capacity. We will support Permascand on this important transformation.” said Clara Zverina, Principal at Altor.
”We are very glad to welcome Altor, their expertise and green transition ambitions aligns perfectly with our journey ahead. This partnership will make us stronger and bring us closer to our vision of becoming the leading independent global supplier of key components for electrochemical applications to support the green transition.” said Per Lindberg, Chairman of the Board at Permascand.
 Managed by Altor Fund Manager AB.