Stockholm (Sweden), 16 December 2019 – Funds advised by Triton (Triton) have signed an agreement to sell Eleda Infra Services Group (Eleda) to a consortium made up by the group’s management team. Terms of the transaction are not disclosed.
Eleda is an infrastructure services group formed by Triton through the consolidation of the regional companies Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggningstjänster focusing on civil engineering, excavation and other infrastructure services. Headquartered in Stockholm, the group has around 800 employees and achieved pro forma sales of around SEK 3.0 billion at the end of September 2019.
“We would like to thank the management team, the employees and all other stakeholders for their contributions to the successful development of Eleda during Triton’s ownership. We view this as an appropriate time for management to take over as full owners and to continue developing the company further” says Peder Prahl”, Director of the General Partner to the Triton funds.
“Through the creation of Eleda, our Nordic Triton Smaller Mid-Cap (TSM) team and the company’s board have in a joint effort with management succeeded in transforming four companies leading in their respective regional geographies into a national platform with a corporate culture marked by a strong entrepreneurial spirit and coherent processes. We are happy that the management team, who have remained significant shareholders throughout TSM’s ownership, are ready to continue this successful journey.” says Andi Klein, Investment Advisory Professional and responsible for the Triton Smaller Mid-Cap Fund.
”During Triton’s ownership period, Eleda has had the opportunity to grow into one of the leading companies of our market. We today have a well-functioning platform which offers high-quality infrastructure services. With financing and acquiring the company ourselves, we now look forward to a continued growth together with our employees”, says Johan Halvardsson and Peter Condrup, representatives of the management consortium.
About Eleda Group
Eleda Group is an expansive group focusing on civil engineering, contract and other infrastructure services. The Group operates through regional companies across southern and western Sweden. These companies all have similar business models and operational focus and currently include Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggninstjänster. Eleda Group’s corporate culture is marked by a strong entrepreneurial spirit, and the companies work independently in complementary geographical areas with the goal of being a leading player in their respective regional markets. Eleda Group, which has its headquarters in Stockholm, has around 800 employees and sales of approximately SEK 3.0 billion in the 12 months to September 2019. Eleda Group is owned by Triton and a broad group of key individuals in the Group.
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.