Triton has acquired Akeab
Malmö/Stockholm (Sweden), 30 June 2017 – Funds advised by Triton ("Triton") have completed the acquisition of Akeab, from the majority owner Priveq Investment Fund IV L.P. Akeab is a leading supplier of excavation work and non-building construction services in the southern part Sweden. The terms of the acquisition were not disclosed.
"We look forward to supporting Akeab’s management and employees as a stable owner by investing in and supporting the growth and development of the company. Our strong industry expertise in the business services sector, gained through other investments and strengthened by senior industry experts, will contribute in taking Akeab to the next level. We look forward to working together with the management team and the Board of Directors in building a stronger company", said Peder Prahl, the Managing Partner of Triton Partners.
“We believe that Triton and Akeab make a great fit. The industry expertise that Triton possess will be of strong importance as we continue our growth. We in the management team are very happy to continue to be significant shareholders in the company together with Triton,” says Peter Condrup, CEO of Akeab.
Akeab is a leading provider of excavation services and civil works with a strong presence and market position in southern Sweden. The company focuses on medium sized projects with customers ranging from national fiber operators to municipalities and local energy companies. Akeab has grown significantly in recent years by providing efficient service and maintaining strong customer relationships. Founded in 2008, Akeab has around 230 employees and offices in six locations.
For further information: www.akeab.se
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 30 companies currently in Triton's portfolio have combined sales of around €14 billion and around 86,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com