Industri Kapital acquires Myresjöhus from Skanska
The Industri Kapital 2003 Fund (“IK2003”) has signed an agreement to acquire Myresjöhus AB, the Swedish prefabricated house manufacturer, from Skanska for slightly more than SEK 500 million (€58 million). The acquisition of Myresjöhus will be IK2003’s first investment.
Myresjöhus is one of the leading prefabricated house manufacturers in Sweden, with sales of approximately SEK 950 million (€106 million) in 2003 and some 390 employees. Since inception in 1927, the company, with its strong brands Myresjöhus and Smålandsvillan, has delivered more than 80 000 houses. Myresjöhus has a market share of approximately 10 per cent in Sweden.
“We are delighted to have acquired Myresjöhus, a market leader with strong brands and expertise, and we look forward to continue developing the business together with its management” says Samir Kamal, Head of Industri Kapital’s Swedish team. “The Swedish market for single-family houses has a positive outlook and this transaction manifests Industri Kapital’s intention to take part in the consolidation and development of the fragmented prefabricated housing industry. We view this as a buy-and-build case where we expect to make further acquisitions within the next couple of years”, he continues.
“Backed by Industri Kapital, a strong and committed owner, we can progress as an independent company. To the benefit of our customers, suppliers and employees, we will be able to further strengthen our position as a leader in innovative as well as cost efficient prefabricated house solutions”, says Mikael Olsson, CEO of Myresjöhus.
The transaction is subject to approval from relevant authorities.
For further information, please contact:
Samir Kamal, Partner, Industri Kapital, +46 8 678 95 28, +46 70 378 95 28
Maria Nilsson, Press Co-ordinator, Industri Kapital, +46 8 678 95 51, +46 70 378 95 51
Industri Kapital invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in mature industries with fundamental underlying growth.