Nordform and S:t Eriks have merged to form Sweden’s largest independent supplier of pre-fabricated concrete products for infrastructure. Existing Nordform shareholder Segulah will be the combined company’s majority shareholder.
Nordform to merge with S:t Eriks, creating Sweden’s largest independent supplier of pre-fabricated concrete products for infrastructure.
By merging their businesses, Nordform and S:t Eriks create Sweden’s largest independent supplier of pre-fabricated concrete products for infrastructure. After the transaction, Segulah III, L.P. will be the majority shareholder in the new group.
Nordform and S:t Eriks, with a joint 2008 turnover of 900 MSEK (85 MEUR) and 400 employees, act as suppliers to all major construction companies and DIY-chains on the Swedish market. In total the companies have 12 manufacturing facilities spread throughout
Nordform was acquired by Segulah III, L.P. in June 2005. S:t Eriks is a subsidiary of the nationwide construction company Peab.
The merger of the two companies will improve R&D and Sales, and make production more efficient. In addition, the aim is to establish presence in the other Nordic markets.
”There are extensive synergies between the companies and we see great potential for both efficiency improvements and Nordic expansion” says Chairman of the Board Lennart Kalén.
The new company will operate under the name S:t Eriks. Head office will be located to Nordform’s current head office in Staffanstorp. The Marketing & Sales function will be located to Uppsala. Nordform’s subsidiary Skandinavisk Kommunalteknik AB will not be included in the deal and going forward will hence be owned directly by management and Segulah III, L.P. as a new portfolio company. Approval from the competition authorities have been received in Sweden, Norway and Finland.