IK VII Fund to invest in Ramudden
IK Investment Partners’ (“IK”) IK VII Fund invests in Ramuddenbolagen AB(“Ramudden” or the “Company”), a leading specialist provider of temporary traffic control services in the Nordics.
The partnership between IK and the Company’s founder and management will enable the business to grow and strengthen further. Financial terms of the transaction are not disclosed.
Ramudden, founded in 2005, and based in Sundsvall and Gävle, Sweden, delivers products and services for temporary traffic control solutions, including the rental of essential equipment (such as traffic barriers and guide signs), traffic arrangement plans, education programmes, surveillance and maintenance services. The Company is the leading specialist in Sweden and is also present in Norway (since 2009) and Finland (since 2012). Ramudden’s customers are mainly civil engineering contractors and construction companies. Total revenue for the year ended 2013 amounted to SEK 239 million.
The Company is headed by its current main shareholders, Hans-Olov Blom, founder and CEO of Ramudden AB, and Birger Larsson, CEO of Ramuddenbolagen AB.
“We look forward to developing and expanding Ramudden further in the Nordic region together with IK. Ramudden’s competitive edge stems from its know-how, professionalism and high degree of service. In IK, we have found a strong and experienced partner that shares our view of how best to take the business forward,” says Birger Larsson, CEO of Ramuddenbolagen AB.
“We are very impressed by Ramudden’s strong track record, the quality of its management and organisation, and the company’s entrepreneurial culture. By leveraging our expertise of supporting management teams in developing and growing businesses, our past experiences with rental businesses and our vast industrial network in the Nordics, we look to support the Ramudden team in growing and strengthening the Company over the coming years,” says Kristian Carlsson Kemppinen, Partner at IK and advisor to IK VII Fund.
Completion of the transaction is subject to legal and regulatory approvals.
Ramudden is the fourth investment by the IK VII Fund, which invests in pan-European mid-sized companies that have strong profit improvement potential. The fund closed in October 2013 with total commitments of EUR €1.4 billion. The other three investments are: Hansen Protection, the Norwegian specialist in survival suit rental; Ampelmann, a market leader in rental of Motion Compensated Gangway (MCG) systems to the offshore energy sector based in the Netherlands; and VPS, a global leader in fuel management services.
For enquiries contact:
IK Investment Partners
Kristian Carlsson Kemppinen, Partner
Charlotte Laveson, Communications Director
Phone: + 44 207 3047136
Birger Larsson, CEO
Phone: +46 60 12 10 60
Mob: +46 70 651 82 38