Storskogen acquires Schneider Electric’s Cable Support business
Stockholm, Sweden, 27th of April 2021 – Storskogen has signed an agreement to acquire Schneider Electric’s Cable Support business, one of the market leaders within its segment in Europe. Cable Support, with headquarters in Mora in Sweden, targets construction and general industry through its brands Wibe and Stago.
Cable Support has around 250 employees, factories in Mora, Sweden, and in Hoorn, the Netherlands, and provides cable ladders, cable trays, accessories and support systems for a range of end-markets such as buildings, infrastructure, wind power, data centres and food and beverage industries.
Cable Support will belong to Storskogen’s business area Industry. Fredrik Bergegård, EVP and head of Industry is proud to welcome Cable Support to Storskogen.
”Schneider’s Cable Support business is a well-managed entity with premium products, an excellent management team and very skilled staff. The business rests on some strong underlying macro trends such as digitalization, electrification, urbanisation and renewable energy that I believe will benefit Cable Support going forward,” says Fredrik Bergegård, EVP and Head of Industry at Storskogen.
Co-founder and Head of M&A at Storskogen, Alexander Murad Bjärgård, perceives the signing of Cable Support as a perfect example of Storskogen’s mission to acquire and operate well-managed and profitable companies located outside metropolitan regions, with leading positions in their respective markets.
”We are very happy to have completed this sizable transaction.” says Alexander Murad Bjärgård, EVP and Head of M&A at Storskogen. ”Acquiring a mix of both small and larger companies, like Cable Support, in a niche with good profitability is in line with Storskogen’s strategy of continued growth. The fact that we now have proven our capability to do fairly advanced carve-outs further expands our investment opportunities,” says Alexander Murad Bjärgård.
The transaction is expected to be completed during the summer and is conditional on the approval of the Swedish Competition Authority.
Storskogen is a Swedish privately owned company founded in 2012, with a mission to acquire and operate well-managed and profitable companies with leading positions in their respective markets. As of the end of 2020, Storskogen was made up of 58 business units with about 3,500 employees. All business units are run in a decentralised and entrepreneurial fashion, as we know the importance of nurturing the qualities that have made a company successful in the first place.
For further information please contact:
Fredrik Bergegård, EVP Industry at Storskogen
Tel: +46 (0)70 357 60 25
Alexander Murad Bjärgård, Co-founder, EVP and Head of M&A
Tel: +46 (0)70 639 39 19
Photo: Schneider Electric