Fredericks Michael & Co. acted as exclusive financial advisor to Sentica Partners Oy, an independent private equity company focusing on investing in and developing small and mid-sized companies with Finnish origin, and its portfolio company Tammermatic Group Oy, one of the leading and most innovative car wash companies globally, on the sale of their equity interest in InterClean Equipment Inc., a leading producer of heavy-duty vehicle wash solutions, to Oakland Standard Co., a private equity firm investing in lower middle market industrial businesses. InterClean is a leading producer of modular-based external wash systems for heavy-duty vehicle fleets and for specialty applications such as aerospace, water testing, and vehicle assembly plants. The Company’s solutions are custom engineered and fabricated to meet the needs of any wash environment.
Tammermatic will focus on its core business of manufacturing car and heavy-duty wash machines and will continue to distribute InterClean products in the Nordic countries, Russia, Baltic countries, CIS-countries, Romania and Bulgaria while InterClean will distribute the Tammermatic Ultima Heavy Duty Wash in the Americas. “This transaction enables Tammermatic Group to better support and develop its car wash division and the heavy-duty line globally”, comments Tammermatic CEO Juha Soutolahti.
Additional investors in InterClean include industry veterans, Morten Merrild, Rob Forbes, and Kirk Ylinen.
FM&Co.’s advisory services to Sentica and Tammermatic included contacting and meeting with Oakland Standard, valuing, structuring, and negotiating the terms and conditions of the agreement.
About Sentica Partners Oy
Sentica Partners Oy, based in Helsinki (Finland), is an independent private equity company. Sentica operates as a team of 15 professionals and three advisors with extensive experience in fields such as private equity, consulting, investment banking and various industrial sectors. Through Sentica’s offices in Helsinki, Tampere and Kuopio local expertise is provided. Sentica is owned by its seven partners and the company is a member of the Finnish Venture Capital Association. Leading Finnish institutional investors and European fund of funds have committed over EUR 300 million to Sentica's current funds. In 2015 Sentica’s 16 portfolio companies employed some 6,000 professionals in total and their combined turnover reached almost EUR 800 million. For more information, visit www.sentica.fi
About Tammermatic Group Oy
Tammermatic Group Oy, based in Tampere (Finland), is one of the leading and most innovative car wash companies in the world. Tammermatic is a global, high-tech company that manufactures vehicle wash systems for cars, heavy transport vehicles, buses, rail fleets and a variety of special equipment. Partners Oy holds an 81% stake in Tammermatic Group Oy. For more information, visit www.tammermatic.com
About InterClean Equipment Inc.
InterClean Equipment Inc., based in Ypsilanti (Michigan), designs and manufactures custom wash systems for heavy transportation vehicles (buses, trucks, subways, trains), airplanes, mining trucks, and a variety of special equipment. InterClean was acquired by Tammermatic Group in 2008. For more information, visit www.interclean.com
About Oakland Standard Co.
Oakland Standard Co., based in Birmingham (Michigan), is a private equity firm specializing in lower middle market, recapitalizations, industry consolidations, corporate carve-outs and non-core operations, out-of-favor industries, and family-owned businesses. The firm seeks to invest in building products, value-added distributors, general industrial and automotive, specialty foundries, fastener and industrial product distributors, automation integrators, and niche manufacturers. It invests in companies with EBITDA of less than US$ 10 million. For more information, visit www.oaklandstandard.com