Livingstone’s Business Services team has advised the shareholder of Pierre Entreprenad i Gävle AB (Pierre Entreprenad) on its sale to Storskogen. Livingstone ran a competitive auction process where the team’s experience and transaction expertise have contributed to a successful outcome.
“I had nothing but confidence in Livingstone throughout the process. The collaboration worked excellently, from producing good presentation material to final negotiations with various stakeholders. I was always confident that they understood what was important to me in the business and that they could deliver a successful result,” stated Fredrik Pierre, CEO of Pierre Entreprenad.
In this transaction, Storskogen acquires a majority of the shares in Pierre Entreprenad. The previous owner, Fredrik Pierre, will maintain a minority position and continue as the CEO after the transaction.
Pierre Entreprenad was founded in 1959 by Claes Pierre with the aim to become a preeminent leader in the construction and contracting sector. Today, the company is a leading construction contractor in Gävle with a turnover of approximately SEK 180m (USD 21m) with good profitability. In addition to construction, the company also offers demolition, drilling, and industrial floor services.
Storskogen is a privately owned group that acquires and operates well-run and profitable companies with a leading position in their market. Storskogen was founded in 2012 and has a diversified corporate portfolio containing approximately 59 business units with a combined turnover of approximately SEK 10 billion (USD 1.1b).
“Pierre Entreprenad is a well-run, leading company with a history of success that goes back 60 years. With Storskogen as a new owner, the company is well-placed to continue its growth journey in a long-term structure that creates stability and opportunities for the entire company and all employees,” commented Zakaria Marakbi, Associate at Livingstone.