June 7, 2021 | Deals

GCA Altium advises Castik Capital on the acquisition of Element Logic

GCA Altium acted as exclusive financial advisor to Castik Capital S.à r.l. on the acquisition of a majority stake in Element Logic, a leading specialised integrator for automated warehouse solutions centred around the AutoStore system. Castik will jointly own the company alongside Element Logic’s founders, management team and employees.

Element Logic, headquartered in Kløfta, Norway, and founded in 1985, had a turnover of €100 million in 2020 and employs 170 specialists across Europe who design, implement, deliver and service a wide range of automated and static warehouse automation solutions for customers in a range of industries across Europe, complemented by proprietary software and technology. After delivering organic revenue growth at a c. 50% CAGR since 2014, Element Logic today has a leading market position in the Nordics and across Europe.

Commenting on the transaction, Dag-Adler Blakseth, co-founder and CEO of Element Logic, said: “We are thrilled to have Castik on board as our partner of choice with a great fit for Element Logic. Together we plan to continue our growth journey while we retain “the Element Way” and the company’s unique culture, as Element Logic truly is a people business. There are an incredible number of exciting opportunities ahead of us that open up further when we combine Castik’s support together with our competence, experience and ambitions.”

“We are very excited to have the opportunity to partner with Dag-Adler Blakseth and the entire Element Logic team, and to support the company in its continued growth story. The company has grown tremendously over the last years in a market for warehouse automation that is still in its infancy,” Michael Phillips, Partner at Castik Capital, added.

The financial terms of the transaction have not been disclosed.

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