06 Jul 12
Litorina IV (”Litorina”) acquires the majority ownership in Gullbergs Sverige AB (”Gullbergs”), Sweden’s leading provider of office supplies to small and medium sized companies. Anders Bogren and Fredrik Paulsson, the company’s former majority owners, retain a significant minority ownership. In the last ten years, Gullbergs has increased sales by 15 percent annually and with Litorina as new majority owner and partner, resources are added for continued organic and acquisitive growth.
Gullbergs, with head office and central warehouse in Ängelholm, was founded in 1936 and is today, as the largest Swedish owned company in its market, the leading provider of office supplies to small and medium sized companies in Sweden. In recent years the company has shown strong growth, primarily through increasing sales with existing customers and winning new accounts, but also through acquisitions. Today, the company has 21 outlets, mainly in the south of Sweden and the Mälardalen region, which together with the company’s external sales representatives, customer service and webshop, serve more than 25,000 customers across Sweden. In 2011 Gullbergs had sales of SEK 515 million.
Through the partnership with Litorina, Gullbergs will be provided resources to support the continued expansion of the company. The work to develop Gullbergs further will be headed by Tomas Bergström, the former CEO of Litorina’s portfolio company Textilia, who, in connection with Litorina’s investment, will become group CEO and invest along-side Litorina. "We are looking forward to working with Litorina and Tomas in the realisation of our shared vision of taking Gullbergs to the next level”, says Anders Bogren, departing group CEO and part-owner of Gullbergs.
”Gullbergs has a unique company culture and we are very impressed by the company’s ability to combine strong growth and profitability”, says Paul Steene, Partner at Litorina Capital Advisors, investment advisor to Litorina IV. "We are looking forward to working together with Anders and Fredrik in further developing Gullbergs with Tomas as group CEO.”
”It is with pride and great expectations that I assume the challenge to build a larger group around a company as well managed as Gullbergs. With dedicated and skilled personnel and a proven business model characterised by strong customer focus, Gullbergs is well positioned for continued growth”, says Tomas Bergström.
Michael Andersson, former CEO of Svanströms, will become new chairman and invest together with Litorina
For further information, please contact:
Paul Steene, +46 70 931 03 32, Partner, Litorina Capital Advisors AB
Fredrik Paulsson, +46 70 556 18 41, part-owner, Gullbergs Sverige AB
Litorina, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing primarily Swedish companies together with their management. 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 to Litorina IV LP. Litorina is backed by a number of reputable institutions that have jointly invested approximately SEK 4.8 billion in Litorina's four funds. For more information, please visit www.litorina.se.
Gullbergs, founded in 1936, is Sweden’s leading provider of office supplies to small and medium sized companies. Today, the company has 21 outlets, mainly in the south of Sweden and the Mälardalen region, which together with the company’s external sales persons, customer service and webshop, serve more than 25,000 customers across Sweden. In 2011 Gullbergs had sales of SEK 515 million. For more information, please visit www.gullbergs.se.