Private equity firm Agilitas’ portfolio company Recover Nordic has acquired Relita Industri och Skadeservice (Relita), one of the largest providers of damage control services in Sweden.
Terms of the transaction have not been disclosed.
Relita was founded by its CEO Torbjorn Borgstrom and Per Johnsson in 1996. As a result of this transaction, the current owners of Relita will become shareholders in the wider Recover Nordic business. Relita will continue to trade under its current brand name and Torbjorn Borgstrom will become Recover’s Head of Sweden.
Recover Nordic is the largest damage control provider in the Nordic region. Prior to this transaction the business had operations in Denmark, Norway and Finland, and Relita will now give the group coverage in Sweden.
Bjorn Herlofsen, CEO of Recover Nordic, says: “This transaction enables the Swedish customers of Relita to benefit from the wider range of services provided by the enlarged group. We are very excited about the opportunities this presents.”
Torbjörn Borgström, CEO of Relita, adds: “As a result of the transaction we will be able to offer our customers better service and cover a larger geographical area, and our customers will no longer need to turn to several companies to make their purchases. It also helps to ensure that our staff are given opportunities to grow and develop within Recover.”
