Bogfelts takes in partner for growth
Bogfelts, a leading full-service provider of installation and service of street and outdoor lighting, has decided to join forces with the investment fund Accent Equity 2012 to accelerate the company´s growth strategy. Bogfelts is today the market-leading independent player and wishes to expand its offering and geographical presence. The company’s current owner, Joakim Bogfelt, will continue as CEO with a significant ownership. Bogfelts’ revenue in 2015 amounted to approximately SEK 170 million and the company has approximately 45 employees.
“We have achieved significant growth over the past seven years”, says Joakim Bogfelt, CEO, founder and current owner of Bogfelts. “When planning for the next step in our growth strategy, we have decided to join forces with an experienced co-owner with solid experience from similar situations. Accent Equity, with a proven track record of building Swedish and Nordic market leaders, is therefore our preferred partner”.
Bogfelts was founded by Joakim Bogfelt in 2009 after more than 20 years’ experience from the street lighting business. The company is currently focused on the greater Stockholm area and has established itself as the largest independent full-service provider in the business, alongside integrated players such as Vattenfall and One Nordic. Bogfelts has developed a cost-efficient and flexible offering that has attracted a stable customer base consisting predominantly of municipalities. The company is mainly focused on installation and service & maintenance, but also on trading in products.
“Joakim has together with his team in a relatively short time frame established a very strong customer base in the Stockholm area”, says Niklas Sloutski, CEO of Accent Equity Partners, investment advisor to Accent Equity 2012. “We share the company’s growth ambitions and see great opportunities to expand the business in other geographical markets as well as into adjacent product and service areas. We are very much looking forward to contributing to building Bogfelts into an even stronger business in the years to come”.
For more information, please contact:
Niklas Sloutski, Accent Equity Partners AB
Telephone: +46 70 300 99 59 or firstname.lastname@example.org
Joakim Bogfelt, Bogfelts Installationer & Entreprenad AB
Telephone: +46 70 944 49 50 or email@example.com
Accent was founded in 1994. Since then, Accent funds have invested in some 70 companies, of which some 50 have been realised. Accent Equity Partners AB has advised seven funds with total commitments of more than EUR 1 billion. Accent’s ambition is to develop the portfolio companies into Swedish, Nordic, European or Global players through sustainable improvements of their operations as well as their strategic positioning. www.accentequitypartners.se