Altor Fund IV has on December 17 acquired 10 million shares in Spectrum ASA corresponding to 23.3% of the shares outstanding. Altor has through this acquisition crossed the 20% threshold. This is Altor Fund IV´s first investment.
Altor considers Spectrum to be a very well positioned and reputable seismic service provider with a strong team, business model and track record. Altor believes that the company with its pure-play multi-client model has a great potential to continue its strong performance in a challenging market. Altor looks forward to supporting the management team on the journey ahead.
As the largest shareholder in Spectrum ASA, Altor will propose a candidate to the board of directors and call for an extraordinary general meeting.
For more information please contact:
Pål Stampe, Partner at Altor, +47 22 12 83 83 or firstname.lastname@example.org
Since inception, the family of Altor funds have raised some EUR 5,8 billion in total commitments. The funds have invested in excess of EUR 3.1 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Apotek Hjärtat, Carnegie, EWOS, Helly Hansen, Dustin and Byggmax.