IK Investment Partners’ (IK) IK VII Fund is to sell the Ramudden Group, a Nordic provider of work zone safety solutions, to funds managed by Triton.
Founded in 2005, Ramudden is a specialist provider of work zone safety solutions for the road, construction and industrial sectors. The service offering includes rental of road barriers, signage, traffic and road signs, concrete systems, industrial heating solutions, traffic arrangement plans, surveillance and maintenance service as well as safety education programmes.
With a presence in Sweden, Norway, Finland and Estonia through their own depots, the Company has an unrivalled ability to quickly adapt to changing client expectations and market conditions, with a high level of customer satisfaction. Ramudden employs over 450 people, and has a turnover exceeding 700 MSEK (2017).
“During the past 3.5 years, we have worked closely with the management team to transform the business from a provider of temporary traffic control services to a work zone safety specialist. The Company has more than doubled the turnover, and successfully executed five add-on acquisitions, strengthening their presence in core geographies and expanding into the Baltics. We would like to thank Hans-Olov, the management team and all of Ramudden’s employees for their hard work and dedication, and wish them all the best on their continued journey,” says Kristian Carlsson Kemppinen, Partner at IK Investment Partners and advisor to the IK VII Fund.
“IK has been instrumental to Ramudden’s significant growth over the past couple of years. Thanks to their support, we have been able to rapidly expand our depot network, improve our operational structure and invest even more in our staff. We are looking forward to continuing our development together with Triton,” says Hans-Olov Blom, CEO and founder of Ramudden.
Financial terms of the transaction have not been disclosed. Completion of the transaction is subject to legal and regulatory approvals.