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.
About 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.
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.