Priveq acquires Swedish public toilet services company, Danfö
Danfo, offering customized public toilets and related services, is bringing Priveq Investment (“Priveq”) in as future growth partner. The Management and Board of Directors will be a part of the owner group. Throughout the past 40 years, Danfo has built a stable platform with installations in several countries with recurring revenue in the form of service and maintenance. The partnership with Priveq creates conditions for continued growth in current and future markets.
Danfo designs and manufactures public toilets and offers complete solutions with products, service and maintenance to customers in several countries. The company was founded in 1969 and has a turnover of approximately SEK 180m with good profitability. Danfo has 140 employees with its head office and production in Nora, outside Örebro. The company has a broad international customer base mainly consisting of municipalities, leasing companies and outdoor advertising companies.
“We are very satisfied with Priveq as a new partner in Danfo and we look forward to developing and growing Danfo for the benefit of customers and employees in current and future markets”, says Mikael Magnusson, CEO of Danfo.
“We have been following Danfo’s good development for a long time and we are very pleased to have the opportunity to be included in a long-term partnership with Danfo and together with the employees develop the company further. Danfo has successfully developed a complete offering to its customers, including products with high design content as well as service and maintenance which has proven to be attractive to customers in Sweden as well as internationally”, says Karl-Johan Willén, Partner and Investment Manager at Priveq.
In connection with the deal, Lars-Åke Rydh will take over as Chairman of the Board. Lars-Åke Rydh is the former CEO of Nefab, a packaging company in which Priveq was a partner for almost ten years. Another new member of the Board is Keith Fransson, who mainly has been working within the education sector, most recently as CEO for Hermods.
Danfo, with its head office in Nora, outside Örebro, offers tailor made complete solutions within public toilets comprising products, service and maintenance. The company has long relationships with its customers, mainly consisting of municipalities, leasing companies and outdoor advertising companies. In 2015, the company’s turnover was approximately SEK 180m and Danfo had 140 employees in Sweden, Norway, Denmark, UK and the Middle East.
More information is available at www.danfo.se.
About Priveq Investment
For more than 30 years, Priveq Investment has invested in profitable growth companies. The business concept is to generate value through long-term investments and active ownership in unlisted growth companies. Since 1983, approximately SEK 3,5 billion have been invested and Priveq Investment and its employees have carried out 116 investments and been involved in taking 24 companies to an IPO. The current portfolio consists of 13 companies with a total revenue of SEK 6 billion and with approximately 1,700 employees. Some of the current portfolio companies are 21 Grams, Crem International, El-Björn, House of Ports, Internatural (with the brand Kung Markatta) and QleanAir Scandinavia. Behind Priveq Investment is essentially a number of long-term, institutional
pension funds in the Nordics and Europe, for example Skandia Liv, Fjärde AP-fonden, Kommunal Landspensjonskasse (KLP) and Europeiska Investeringsfonden (EIF). Priveq Advisory AB acts as investment advisor to the Priveq Funds.
More information is available at www.priveq.se
Source: Priveq Press Release