Priveq Investment Fund IV (”Priveq Investment”) is the new majority owner of Anläggning & Kabel Entreprenad i Malmö AB (”akea”), a leading supplier of excavation services for cable and construction related projects in the southern parts of Sweden. The CEO of akea, Peter Condrup, will together with management and other employees maintain a 40 per cent ownership in the company. The investment will provide akea with additional resources to strengthen its offering and continue its successful expansion.
akea is a well-run and profitable company with a strong position in the southern parts of Sweden, a region expected to make significant investments within infrastructure and construction during the coming years. The company’s focus is being a supplier of services to infrastructure network owners. Thereto, the company offers services to traditional construction projects. akea was founded in 2008 and has shown good organic growth and profitability ever since. In the fiscal year of 2014, akea had sales of SEK 424m with an operating profit (EBIT) of approximately SEK 38m.
“akea’s strong position as a supplier of excavation services to cable and construction related projects is a good foundation for continued expansion. The combination of a strong company culture and dedicated staff has given the company satisfied and loyal customers. We are pleased to have the opportunity to invest in akea and look forward to being an active partner during the exciting journey ahead.” says Karl-Johan Willén, Investment Manager at Priveq Advisory AB, advisor to Priveq Investment.
”We are very pleased with having Priveq Investment as a new partner in akea. With its financial strength and wide experience from over 100 growth companies, Priveq is a perfect partner for akea in order to take the next step in our development.” says Peter Condrup, CEO of akea.
Advisor to akea and its owners in this process has been UB Capital.
For further information, please contact:
Karl-Johan Willén, Partner and Investment Manager, Priveq Advisory AB
Tel. +46-70-950 88 25
karljohan.willen@priveq.se
Peter Condrup, CEO, Anläggning & Kabelentreprenad i Malmö AB
Tel. +46-73-322 00 25
peter.condrup@akeab.se