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Priveq Investment divests Akeab to Triton
Priveq Investment Fund IV L.P. (”Priveq”) has, following a successful period of ownership in Anläggning & Kabel Entreprenad i Malmö AB (”Akeab”) together with other owners, decided to divest the company to Triton. The sale marks an ending to a strong collaboration characterized by growth and development.
Akeab is a leading provider of excavation services and civil works with a strong foothold in southern Sweden. The company’s customers consist of public and private owners of infrastructure. The company has around 230 employees with head office in Malmö and offices in another five locations.
Akeab has exhibited very strong organic growth during Priveq’s ownership period driven by an increased focus on assuming the role of main contractor in projects, regional expansion including a new office in Gothenburg and a strong underlying market. Moreover, the company has signed a number of new customer contracts that will enable further geographical expansion in Sweden. Sales has during this period grown from around SEK 400m to around SEK 1.000m with maintained margins.
"Akeab has developed very well during our period as owner. The company has shown a very strong growth with a good development in profitability. We have spent lots of time and efforts on further strengthening Akeab’s position in the value chain and also create the prerequisites for continued geographical expansion. Akeab’s strong culture and committed employees have been important success factors to achieve this.” says Karl-Johan Willén, partner at Priveq Advisory AB, advisor to Priveq Investment Fund IV and board member in Akeab.
”Together with Priveq we have succeeded in maintaining the strong sales growth and laid the foundation for continued strong growth, both in existing and new regions. We in the management team are happy to continue to be significant shareholders in the company together with Triton in the next phase of our growth journey.” says Peter Condrup, CEO of Akeab.
For further information, please contact:
Karl-Johan Willén, Priveq Advisory AB
Tel. +46 70 950 88 25
karljohan.willen@priveq.se
Peter Condrup, CEO, Akeab
Tel. +46 73 322 00 25
peter.condrup@akeab.se
About Akeab
Akeab is a leading provider of excavation services and civil works with a strong presence and market position in southern Sweden. The company focuses on medium sized projects with customers ranging from national fiber operators to municipalities and local energy companies. Akeab has grown significantly in recent years by providing efficient service and maintaining strong customer relationships. Founded in 2008, Akeab has around 230 employees and offices in six locations.
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About Priveq Investment
For more than 30 years, Priveq Investment has invested in profitable growth companies. The business concept is to generate value through long-term investments and active ownership in unlisted growth companies. Since 1983, approximately SEK 3,5 billion has been invested and Priveq Investment and its employees have carried out 121 investments and been involved in taking 25 companies to an IPO. The current portfolio consists of 16 companies which has a total revenue of approximately SEK 6.2 billion and 2,300 employees. Some of the current portfolio companies are 21 Grams, Crem International, Ports Group, QleanAir Scandinavia and Visual Art. Behind Priveq Investment is essentially a number of long-term, institutional pension funds in the Nordics and Europe, for example Skandia Liv, Fjärde AP-fonden, Kommunal Landspensjonskasse (KLP) and Europeiska Investeringsfonden (EIF). Priveq Advisory AB acts as investment advisor to the Priveq Funds.
More information is available at www.priveq.se.
