Sortera Industry acquires L.S. Tankservice
4 June 2018
Sortera Industry has acquired L.S. Tankservice AB. Through the acquisition, Sortera is enhancing its offering in the areas of sewage treatment, high pressure flushing, sludge extraction and pipe inspection. L.S. Tankservice will continue to be operated under its current management and will be an independent division within Sortera Industry.
L.S. Tankservice, based in Sollentuna, offers sewage treatment, high pressure flushing, sludge extraction, pipe inspection and transport of hazardous waste services throughout the greater Stockholm region. The company has 18 employees and annual sales of approximately SEK 35m.
”Sortera has been looking for an opportunity to expand its expertise within sewage disposal and associated services. This acquisition is well aligned with our strategy, and will allow us to offer our customers the industry’s best service in this area,” says Conny Ryk, CEO of Sortera Group AB.
L.S. Tankservice has been engaged in sewage disposal since 1968, when the company was founded by Lars-Erik Spångberg. The company is now run by his son, Joakim Spångberg, and remains focused on service and customer satisfaction.
”We look forward to entering a new growth phase as part of Sortera. We can grow more with Sortera than we could have done on our own. We will also be able to invest in new equipment and broaden our clientele, and to offer even better service to our current customers,” says Tony Odelstrand, CEO of L.S. Tankservice.
Sortera currently operates under the brands BIG BAG, DK Sanering, Vacuo, Åkerisäcken, Eco-Chain and DT Recycling.
”The acquisition of L.S. Tankservice AB is another key element in the expansion of Sortera’s customer offering. More and more people are realising the importance of environmental responsibility, and this shift is driving Sortera’s growth. In two years, we have tripled Sortera’s sales and are now looking forward to continued expansion,” says Johannes Lien, partner at Summa Equity and chairman of Sortera’s board of directors.
For additional information, please contact:
Conny Ryk, CEO, Sortera Group AB, +46 70 775 5310
Sortera is a Swedish environmental group. Through its 3 business areas (Recycling, Industry and Materials) Sortera is the leading and most specialized player in construction / waste disposal in Sweden. With approximately 300 employees and a turnover exceeding 800 million SEK, they conduct their operations under own control from sales, collection and recycling to final recipients. Sortera reaches 75% of Sweden’s population with their services, and during 2016 they recycled over 99% of all collected material.
About Summa Equity
Summa Equity was founded in 2016 by partners who shared the vision of building a leading specialised private equity company in the Nordic SME market, positioned to capitalise on the investment opportunities created by the thematic megatrends expected to drive long-term growth. Summa Equity focuses on sectors linked to four megatrend-driven themes: resource scarcity, energy efficiency, changing demographics and tech-enabled business. Summa Equity closed its first fund in February 2017 with investment commitments of SEK 4.5 billion.