KEWAB acquired as a sister company to Akeab
Stockholm (Sweden), 12 November 2017 – Funds advised by Triton (“Triton”) have completed an add-on acquisition to its portfolio company Akeab by acquiring the privately held company KEWAB. KEWAB is a leading supplier of excavation work and non-building construction services in the mid-western parts of part Sweden. KEWAB and Akeab will be sister companies in an infrastructure services group owned by Triton and the management teams of the companies. The terms of the acquisition were not disclosed.
"We look forward to continuing to support the companies, management and employees in the infrastructure services group by investing in and supporting its growth and development. Our strong industry expertise in the business services sector, gained through other investments and strengthened by senior industry experts, will contribute in taking KEWAB 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 are very happy to join Akeab in the infrastructure services group. The industry expertise that Triton possess will be of strong importance as we continue our growth. We in the management team of KEWAB are very happy to continue to be significant shareholders in the company together with Triton and the management team of Akeab,” says Fredrik Larsson, CEO of KEWAB.
KEWAB is a leading provider of excavation services, civil works and power network services with a strong presence and market position in the Värmland region of western Sweden and surrounding regions. The company focuses on medium sized projects with customers ranging from national electrical power network operators to municipalities and larger construction groups. Founded in 1965 by Kenneth Wahlström, KEWAB has around 300 employees and offices in six locations.
For further information: www.kewab.se
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 33 companies currently in Triton's portfolio have combined sales of around €14.7 billion and around 91,000 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