Eleda Infra Services Group (“Eleda”) has signed a definitive agreement to acquire a majority stake in Craftor Holding AB (“Craftor”). Craftor’s management team will remain as shareholders of the combined group and continue in their respective operational management roles.
Eleda is an expansive infrastructure services group focusing on small to medium sized services and projects within civil engineering and transmission infrastructureserving a wide range of infrastructure end-markets for public and private customers. Craftor is a complete service provider within electrical infrastructure and will strengthen Eleda’s ability to serve customers operating the Swedish electricity grid, particularly in the urban areas of Sweden where the need to invest in the electricity grid is critical to meet the growing demand for electricity. Craftor has an impressive history of high growth and solid profitability, having grown revenue organically from SEK 600m in 2016 to SEK 1.1bn LTM June 2020. The pro forma revenue for Eleda following the acquisition is around SEK 8 billion.
“Craftor is operationally very similar to Eleda and complements our service and maintenance business within power distribution. We are confident that Craftor will bring significant synergies and strengthen both legacy Eleda and ONE Nordic, which we combined in a landmark transaction in June this year. The acquisition of Craftor is another step towards cementing our position as the leading infrastructure services company in the Nordics”, says Johan Halvardsson, Group CEO at Eleda.
“This is great news for Craftor”, says Klas Urban Hilberth, CEO of Craftor. “We have had a fantastic journey under our previous ownership but are excited to be able to partner with Eleda. We now look forward to the next phase of growth as part of the larger Eleda group, with whom we already have several overlapping clients”.
“[Eleda is off to the successful start that we hoped for when we entered in June 2020, and this acquisition is a testament to their ability to continue to attract world-class entrepreneurs. We welcome Craftor to the Eleda family and look forward to continuing to support the now-larger Eleda on their future growth journey]”, says Bengt Maunsbach, Partner at Altor.
The transaction is subject to customary regulatory approvals.
For more information, please contact:
Johan Halvardsson, CEO, Eleda, +46 70 545 95 01
Emilie Condrup Masior, Head of Communications and ESG, Eleda, +46 70 828 04 66
Klas-Urban Hilberth, CEO, Craftor, +46 768 45 49 25
Bengt Maunsbach, Partner, Altor, +46 867 89 115
Tor Krusell, Head of Communications, Altor, +46 705 43 87 47
About Eleda Infra Services Group
Eleda is an expansive infrastructure services group focusing on small to medium sized services and projects within civil engineering and transmission infrastructure, serving a wide range of infrastructure end-markets for public and private customers. The Group operates via regional companies across southern and central Sweden, currently Akeab, Mark & Energibyggarna, Salboheds Bygg & Anläggningstjänst, JVAB and One Nordic, all of which have similar business models and operational focus. 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 2000 employees and sales around SEK 6 billion in 2019. Eleda Group is owned by Altor and a broad group of key individuals in the Group.
For further information please visit www.eleda.se/en
Craftor is a power contractor providing design and construction services to energy companies and power distribution owners in Sweden. By combining world class project management skills with extensive craftmanship, Craftor delivers complex infrastructure projects on all voltage levels up to 400kV. Since the company was founded in 1983, it has evolved from the small assembly company to one of the leading power contractors in Sweden with appr. 140 employees and some of the most advanced and specialized assignments in the area. This gives us a unique stability and opportunity for continued development – both for our employees, the company and our customers.
For further information, please visit www.craftor.se/en
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Piab, Aalborg Industries, Trioplast, SATS and RevolutionRace.
For further information please visit www.altor.com