Management buys out Eleda Infra Services Group from Triton funds

Management buys out Eleda Infra Services Group from Triton funds

(PRESS RELEASE) STOCKHOLM, 17-Dec-2019 — /EuropaWire/ — Sweden based civil engineering company Eleda Infra Services Group‘s management team has signed an agreement to acquire the company from funds (Nordic Triton Smaller Mid-Cap) advised by Triton as the terms of the deal have not been disclosed.

Triton has formed the Eleda group by having regional companies Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggningstjänster consolidated. The group is an infrastructure services group is active in civil engineering, excavation and other infrastructure services.

Eleda Infra Services Group, based in Stockholm, has achieved pro forma sales of around SEK 3.0 billion (~ EUR 290 million) at the end of September 2019. The group relies on some 800 employees.

Commenting on the management buy out, Peder Prahl, Director of the General Partner to the Triton funds, said:

“We would like to thank the management team, the employees and all other stakeholders for their contributions to the successful development of Eleda during Triton’s ownership. We view this as an appropriate time for management to take over as full owners and to continue developing the company further.”

Commenting on the divestment, Andi Klein, Investment Advisory Professional and responsible for the Triton Smaller Mid-Cap Fund, said:

“Through the creation of Eleda, our Nordic Triton Smaller Mid-Cap (TSM) team and the company’s board have in a joint effort with management succeeded in transforming four companies leading in their respective regional geographies into a national platform with a corporate culture marked by a strong entrepreneurial spirit and coherent processes. We are happy that the management team, who have remained significant shareholders throughout TSM’s ownership, are ready to continue this successful journey.”

Johan Halvardsson and Peter Condrup, representatives of the management consortium, on acquiring Eleda:

”During Triton’s ownership period, Eleda has had the opportunity to grow into one of the leading companies of our market. We today have a well-functioning platform which offers high-quality infrastructure services. With financing and acquiring the company ourselves, we now look forward to a continued growth together with our employees.”

Eleda Group in brief

The company is active in the civil engineering, contract and other infrastructure services markets across southern and western Sweden through regional companies. Eleda Group, which has its headquarters in Stockholm, relies on 800 employees and its sales in the 12 months to September 2019 were approximately SEK 3.0 billion (~ EUR 290 million).

Triton in brief

Born in 1997 and since then Triton has sponsored nine funds focused mainly on companies in the industrial, business services, consumer and health markets across Europe. As of today, Triton’s portfolio is made up of 42 companies with combined sales of around EUR 16,7 billion relying on  80,800 employees.

Media contacts:

Triton
Fredrik Hazén
Phone: +46 709 483 810

Johan Halvardsson
Owner representative and CEO Eleda Group
johan.halvardsson@eleda.se
mobile +46 (0)70 545 95 01

Emilie Condrup Masior
CCO Eleda Group
emilie.condrup@eleda.se
mobile +46 (0)70 828 04 66

SOURCE: Triton