Accent Equity acquires Stål & Hyr
The investment fund Accent Equity 2012 has entered into an agreement with the current owners of the rental company Stål & Hyr, the brothers Jörgen Grubbeson and Glenn Andersson, to become the new principal owner and assist the company in its continued growth and development. Stål & Hyr has on average grown by 22 per cent per year the last three years, and revenues during the financial year 2015/16 amounted to SEK 226 million.
The brothers Jörgen Grubbeson and Glenn Andersson have been active in the company since the start, and took over the ownership from their father in 1993. They have emphasised availability, service and long-term customer relationships, which has resulted in average annual revenue growth of 15 per cent since 2005.
”Stål & Hyr has, through its strong market position on the west coast of Sweden and full-service offering within rentals to the construction industry, an excellent platform for continued growth, both organically and through acquisitions”, says Carl Fürstenbach, partner at Accent Equity Partners AB, investment advisor to Accent Equity 2012. “We are impressed by the growth that the company has showed over several years.”
”I and Glenn have for some time been thinking about how to take Stål & Hyr to the next level and we have evaluated different alternatives. Through Accent Equity we will have a financially strong principal owner with substantial experience from transforming and developing owner-led companies. We consider Accent Equity a valuable partner in the process of taking the company to the next level”, says Jörgen Grubbeson, CEO of Stål & Hyr.
Following the completion of the transaction, conditional on approval from the Swedish Competition Authority, Jörgen Grubbeson and Glenn Andersson will continue to be active in Stål & Hyr and be part of the Board of Directors.
About Stal & Hyr
Stål & Hyr, a second-generation family business founded in 1979, rents machines and other equipment mainly to the construction industry. The company provides a broad assortment of products and services, including various types of tools, small and medium sized construction machinery, lifts, electricity and energy equipment, scaffolding and weather protection, and construction site sheds. The company can also establish complete construction sites for its customers. Stål & Hyr is headquartered and has a depot in Varberg, Sweden, and additional depots in Kungsbacka, Falkenberg and Gothenburg.
Source: Accent Equity Press Release