KLAR Partners makes its first acquisition in Sweden
Funds advised by KLAR Partners Limited (KLAR) are to acquire Sandbäckens, one of Sweden's leading providers of technical installation and service of Sprinkler, Heating & Sanitation solutions for buildings.
Sandbäckens is KLAR Partner's first acquisition in Sweden. The objective is to develop the company into the Nordic region's leading technical installation and property services company.
Sandbäckens’ operations specialise in technical installations and service in the areas of Heating and Sanitation, comfort cooling, sprinklers and district heating. Sandbäckens has a strong geographical presence with 800 employees established in close to 30 locations in Sweden. The company has a market-leading position in many of its local markets with a broad and stable customer base, in business segments with significant growth potential driven by an ageing installed base, increased regulations and a high construction and renovation activity. In 2020 Sandbäckens delivered SEK1.45 billion of sales.
“Sandbäckens is a typical example of a company that fits well into KLAR Partner's acquisition strategy. The company offers mission-critical technical installation and service of sprinklers, heating and sanitation, in a resilient and growing market. The company is one of the leading companies in its segment in Sweden and has a strong culture based on clear values that we want to continue to build on. I am convinced that together with the management and employees at Sandbäckens we have the right capabilities to build the Nordic region's leading technical installation and property services company,” says Fredrik Brynildsen, Partner at KLAR.
“In KLAR, Sandbäckens gets an owner with deep sector experience, and an owner that gives us the right conditions to continue our progress to become the leading company in the industry. We look forward to partnering with KLAR and to access their significant expertise and resources to continue our growth journey," says Mats Åström, CEO, Sandbäckens.
“Having the opportunity to combine Sandbäckens’ competent employees and management, with KLAR's commitment and competence as owners, makes me even more excited about the future for the company. I look forward to staying on as Chairman of the Board together with KLAR to continue to build on Sandbäckens’ strong culture and successful decentralized working methods as we now take the next step in our development,” says Håkan Bergqvist, Chairman of the Board, Sandbäckens.
KLAR Partners has acquired Sandbäckens from Segulah, a Swedish private equity fund.