After a successful period of ownership in Office Management, Priveq Investment Fund IV L.P. has together with Johan Tilander, founder of the company, entered into an agreement to divest Office Management to Inter IKEA Investments. The deal marks an end to a very good cooperation characterized by growth and development, resulting in a company well prepared for a continued expansion in the Nordics.
Office Management is a leading Nordic total solution provider of IT, communications and office services. Office Management has approximately 350 employees in Stockholm, Gothenburg, Malmö, Helsingborg, Gävle, Luleå, Oslo and Helsinki. The company offers equipment and services within Document Management, Communication, Visual Communication, IT Solutions and Facility Services.
During Priveq Investment’s ownership, Office Management has shown good organic growth supplemented with a number of strategic acquisitions and has increased sales from some SEK 600m to some SEK 900m. During the same period, the profit margin has been strengthened further despite substantial investments in organizational development. In conjunction with Priveq Investment’s entry, operations were started in Norway and during Priveq Investment’s period of ownership, Office Management also expanded into Helsinki through an acquisition. Extensive work has been carried out in order to prepare the company for a continued substantial expansion in the Nordic markets, and Office Management is today well prepared to take the next expansive step in its development. In connection with this, the owners and the management have chosen to bring in a new partner in order to implement the next step.
”Office Management has developed very well during the last years, where the five year strategic plan implemented mid 2012 now has been completed. This clearly shows the strength of the company’s business model and the skills and the motivation of the employees. The market position and the structural capital is stronger than ever and the expansion strategy in the Nordics now established.” says Mats Hjerpe, Partner at Priveq Advisory AB, advisor to Priveq Investment Fund IV, and board member of Office Management. ”The founder of Office Management, Johan Tilander, the management and all of the fantastic employees should be very proud of what they have accomplished. We are very pleased with Inter IKEA Investments as a competent, new strategic partner to the company and to management in the next phase.”
”With its great experience from other growth companies, Priveq has created focus and distinctness in our expansion strategy and through their active ownership supported us in creating the organizational structure needed in our continued expansion” says Mats Ågren, CEO of Office Management. “The conditions for continued growth are very good, also in the other Nordic countries, and it is exciting to take this step in the new ownership constellation.”
For further information, please contact:
Mats Hjerpe, Priveq Advisory AB
Tel. +46 70 630 24 60
Mats Ågren, CEO, Office Management
Tel. +46 73 620 30 02
About Office Management
Office Management is a total solution provider of IT solutions, communication and office services. The company has 350 employees with offices in Stockholm, Helsingfors, Oslo, Gothenburg, Malmö, Helsingborg, Uppsala, Gävle and Luleå. With a complete solution covering the customer’s total needs within IT, Document Management, Communication, Visual Communication and Facility Services, Office Management helps more than 7,000 customers to streamline their offices. The growth strategy of Office Management is to become the leading complete supplier in the Nordics within IT solutions, communications and office services. More information is available at www.officemanagement.se.
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 have been invested and Priveq Investment and its employees have carried out 115 investments and been involved in taking 24 companies to an IPO. The current portfolio consists of 13 companies with a total revenue of SEK 6 billion and with approximately 1,700 employees. Some of the current portfolio companies are 21 Grams, Crem International, El-Björn, House of Ports, Internatural (with the brand Kung Markatta) and QleanAir Scandinavia. 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.