Storskogen acquires Special Wheels
Storskogen has entered into an agreement to acquire Specialfälgar i Kungsbacka Holding AB (Special Wheels). Special Wheels is a wheel supplier in the Nordics for passenger cars and commercial vehicles. The company reported a turnover of 317 MSEK in 2020 and reports continued strong growth in 2021 with high profitability. Storskogen expects to complete the acquisition in the beginning of December 2021.
Special Wheels is a designer and supplier of wheels and accessories to passenger cars and commercial vehicles, mainly through the proprietary brands Nitro Wheels and Image Wheels. The company is also the principal agent for the brands OZ Racing, MSW by OZ, Sparco Wheels, ATS Wheels, Accuride and Speedline Truck. The Company is headquartered in Kungsbacka, Sweden with sales offices in Norway and Finland, including distribution centres in all three countries. By the end of 2020 the company had 40 employees. Stefan Olsson, CEO and minority owner of Special Wheels will remain in his position after the transaction.
“We are excited to continue the development of the company together with our new owner and to reach new targets”, says Stefan Olsson, CEO of Special Wheels.
Since January 2021 Storskogen is the majority owner of Continovagruppen AB, the parent company to Continova AB (Sweden), Mobitec Aps (Denmark) and Filial Continova NUF (Norway), suppliers of professional equipment and consumables to tire and car workshops in Sweden and the Nordics. Special Wheels complements Continovagruppen’s offering with its new products, markets and customers. The companies will continue to operate under separate brands but Claes Törnqvist, CEO of Continovagruppen, and Stefan Olsson, CEO of Special Wheels, sees good opportunities for the companies to jointly improve their offering and market positions.
Special Wheels will be part of Storskogen’s business vertical Distributors within the business area Trade, for which Christer Hansson is responsible.
“We are very happy to have entered into agreement to acquire Special Wheels and believe there are several opportunities for the company to cooperate with Continovagruppen, which will further strengthen the companies’ positions in the Nordic region. With Stefan's in-depth expertise and long history with Special Wheels, we are convinced that the company has a strong growth potential in the future, and we look forward to following and supporting Special Wheels on its continued journey”, says Christer Hansson.