15 Nov 11
Litorina is pleased to announce its acquisition of Sveba-Dahlén Group, the leading Nordic supplier of high-quality bakery equipment with broad international presence. The company generates revenues of SEK 500 million, of which roughly two thirds outside the Nordic region. Litorina is acquiring approximately 70% of the company, the remainder to be owned by the management and previous owners.
Sveba was founded in 1948 and has since then grown organically and through acquisitions and consists today of a group that manufactures and develops high-quality products in three areas: ovens (Sveba-Dahlén), make-up lines (Glimek), and mixers (Bear Varimixer). The products are sold to traditional bakeries, industrial bakeries, in-store bakeries in supermarkets, and restaurants. Sveba-Dahlén Group sells directly to customers in Sweden, Denmark, Estonia, Spain, Russia and Hong Kong and in another 60 countries through a global distributor network. Sveba-Dahlén Group has production in Sweden, Denmark and Estonia with a total of 300 employees. The group’s head office is in Borås, Sweden.
The demand for bakery equipment is favored by a stable demand for bread and increasing demand for a broader assortment of artisan and fresh bread. A growing customer segment is in-store bakeries in supermarkets, where Sveba-Dahlén Group has taken a leading position by developing products specific to this segment.
”Sveba-Dahlén Group is a high quality Swedish company with a leading market position within its niche in the Nordics, that we have been following several years, and which is now facing a generation shift” says Harold Kaiser, Managing Partner at Litorina Capital Advisors, investment advisor to Litorina IV. "As new majority owners we are looking forward to supporting management in further strengthening the company’s position in its home markets as well as in growth markets, such as China and Russia and to intensifying investment in product development.”
"We are looking forward to further developing Sveba-Dahlén Group together with Litorina as new owner, says Anders Rietz, Sveba-Dahlén Group CEO. The company is ready to take the next step in focusing the company’s operations and further developing the exciting growth opportunities in the international bakery equipment market.”
”With Litorina as new owner, Sveba-Dahlén Group gains a strong, distinct owner that provides relevant competence and resources in order to take the company to the next level together with management,” says Kenneth Eliasson, majority owner of Sveba-Dahlén Group.
For further information, please contact:
Harold Kaiser +46 708 54 38 00, Managing Partner, Litorina
Anders Rietz +46 705 90 47 22, CEO, Sveba-Dahlén Group
Litorina, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing primarily Swedish small to medium-sized companies along with their leading executives. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina Capital Advisors AB serves as an investment advisor for Litorina's funds. Litorina is backed by a number of future-oriented and reputable institutions that have jointly invested approximately SEK 4.8 billion in Litorina's four funds. For more information, please visit www.litorina.se.
Sveba-Dahlén Group was founded in 1948 and is the leading Nordic supplier of high quality bakery equipment with a broad international presence. The group is focused on three product areas with strong brands: ovens (Sveba-Dahlén), make-up lines (Glimek) and mixers (Bear Varimixer).The company sells directly to customers in Sweden, Denmark, Estonia, Spain, Russia and Hong Kong and in an additional 60 countries through a global distributor network. Sveba-Dahlén Group has production in Sweden, Denmark and Estonia with a total of 300 employees. The group’s head office is in Borås, Sweden. For further information, please see www.sveba-dahlengroup.com