Scana Steel Söderfors AB has been acquired by Garden Growth Industries AB

Scana Industrier ASA has sold its division Scana Steel Söderfors AB to Garden Growth Industries AB. Financial details have not been disclosed.

Scana Steel Söderfors AB is a manufacturer of high quality steel products specializing in high-alloy and high-purity steels for demanding applications. The company's main products are forged or rolled bars, sections, profiles and open die forged components with a high technical content.

Garden Growth Capital is a private investment firm that acquires ownership positions in public and private companies with significant growth or turn-around potential. Garden Growth Capital engages in its investment as a highly active owner with a long-term perspective on value creation.

The Scana group is organized into five business areas: energy, propulsion, offshore, property and other activities. Most of Scana’s companies serve one or more of three market segments: marine, energy, and steel and machinery.

Oaklins's teams in Norway and Sweden advised the seller in this transaction.