Capvest’s RenoNorden appoints new CEO

Scandinavian municipal waste collector, RenoNorden has appointed Staffan Ebenfelt as group chief executive officer, effective January 2014. RenoNorden is backed by Capvest.

PRESS RELEASE

Market leading Scandinavian municipal waste collector, RenoNorden (‘the Group’), today announces the appointment of Mr. Staffan Ebenfelt as Group Chief Executive Officer, effective January 2014.

Ebenfelt has spent the past thirteen years with Coor Services Management (“Coor”), the market-leading Nordic facilities manager, most recently as Executive Vice President. Prior to his current position, he was head of Coor’s Swedish business (turnover of SEK 5 billion) for twelve years as well as being responsible for the group’s operations outside the Nordics, including Hungary, Poland and Belgium. Whilst at Coor, Ebenfelt has been instrumental in developing and implementing Coor’s strategy to drive efficiencies and new business development. He has been a key member of the Coor leadership team and has worked with multiple private equity owners.

RenoNorden is the leading municipal waste collection business in Scandinavia with number one positions in Sweden, Norway and Denmark. The Group is focussed exclusively on household waste collection for 4.3 million inhabitants on behalf of municipalities. CapVest, the leading European mid-market private equity firm, acquired RenoNorden in September 2011 along with minority partners, Accent Equity.

Ebenfelt takes over from Svein Tore Aurland in January 2014, who will step down as CEO but will lead RenoNorden’s Norwegian operations and remain a member of the senior management team along with Jon Flesvik (Group CFO), Torben Lindholm (MD, Denmark) and Peter Ekholm (MD, Sweden).

Commenting on the new appointment, Kate Briant, Chairman of RenoNorden, said: “We are delighted to have someone of Staffan’s reputation, experience and track record to join us as Group CEO. Staffan will bring tremendous energy to the role and will leverage the Group’s considerable resources to strengthen our already strong market positions. The Board looks forward to working with Staffan to further grow the business both organically and through acquisitions.”

Staffan Ebenfelt said: “I am delighted to be taking over the Group CEO role at RenoNorden at what is a very exciting time for the business. I look forward to working with the existing management team, staff and shareholders to build on the Group’s successes to date and position the business for continued development in the future.”

About CapVest
CapVest is an established European mid-market private equity firm focussed on acquiring market leading companies supplying essential products and services. The firm places an emphasis on driving business growth through active management and has demonstrated consistent success in creating long-term value. Scandinavia has long been a core geographical focus for CapVest, through current and past investments such as Findus, the leading frozen food manufacturer and Vaasan, a pan-Nordic bakery business. CapVest’s current portfolio includes investments in staple consumer products, acute healthcare and essential services industries across Europe.
www.capvest.co.uk
About RenoNorden
Established in 2000, Reno Norden is the leading household waste collection business in Scandinavia servicing municipalities across Norway, Sweden and Denmark. The business is one of the very few specialist household waste collectors in Europe. By being specialists, Reno Norden seeks to provide the highest quality household waste collection services through dedicated, empowered local branches. Reno Norden is an expert in route planning with a strong understanding of the various requirements and complexities involved in household waste collection. Its focus allows it to achieve operational excellence with a reputation for quality and reliability.

About Accent
Founded in 1994, Accent is a private equity pioneer in the Nordic region. Since its inception, Accent funds have invested in 67 Nordic companies and divested 49 of them. Accent Equity Partners AB has served as an advisor to seven funds with managed assets in excess of SEK 12 billion. Accent’s objective is to develop the portfolio companies into Nordic, European or global players via enduring improvements of the companies’ business operations and strategic positions. Based in Stockholm, the investment adviser, Accent Equity Partners AB, has a staff of fifteen investment professionals with backgrounds in both industry and finance. In addition, Accent has a large number of industrial advisors in its network.
www.accentequityfunds.se