Livingstone has advised Gullers Grupp on three strategic acquisitions

Gullers Grupp Advances Its Strategic Growth with Three Key Add-On Acquisitions
  • Mar 2024
  • Business Services
  • M&A: Buy-Side
  • Sweden
  • ACQUISITION

Livingstone has acted as exclusive M&A advisor to Gullers Grupp (the ”Company”) on its acquisitions of KAPIStimo and Sprida. These acquisitions are strategic pieces in Gullers Grupp’s growth strategy and are expected to generate significant synergy opportunities.

Gullers Grupp is a leading company that seamlessly bridges the gap between communication and strategy. The Company is dedicated to societal issues and to finding solutions that contribute to dialogue and understanding within four verticals: storytelling, leadership, technical transformation, and sustainability. Gullers Grupp was founded in 1989 and had a turnover of approximately SEK 385 million (€36.6 million) in the Fiscal Year 2022 to 2023. The Company has seven offices in Sweden, including the headquarters in Stockholm, and employs 177 people. Through the acquisitions, Gullers Grupp strengthens its presence in life sciences and business development and sharpens its current service offerings with diversity communication.

“We have worked with Livingstone for several years, and during this time, they have been of great help to us. This applies not only to financial analysis but also to strategic advice for assessing acquisitions. Livingstone possesses significant expertise in strategically evaluating the business services industry, its development, and trends. Overall, we are very pleased with the close cooperation we have had with Livingstone,” said Hans Gennerud, Senior Partner and CEO of Gullers Grupp.

“Gullers has a clear acquisition strategy and is very adept at integrating its acquisitions, which quickly creates significant synergies. For us at Livingstone, it’s about providing financial advisory, financial models, and transaction structures that can support the acquisition strategy successfully, which is extremely stimulating. We truly believe that these three acquisitions will contribute in a great way to Gullers’ ongoing growth journey,” said Isac Stenborg, Partner at Livingstone.

Stimo is a management consulting company based in Piteå, Sweden. Stimo’s focus area is to operate at the center of the green transition where community development, innovative technology, and new smart working methods are guiding stars to meet an uncertain future. Through the acquisition, Gullers Grupp strengthens its offering within management and business development.

Sprida is an agency with a special focus on life science based in Stockholm, Sweden. Sprida’s focus area within life science complements Gullers Grupp’s already large business in the area with additional expertise in several therapy areas and competencies.

KAPI is an agency with specialized knowledge in communication directed at foreign-born target groups and areas with socioeconomic challenges. KAPI strengthens Gullers Grupp’s vertical within storytelling with solutions that lead to dialogue and inclusion.

Livingstone’s Business Services team thus completes another transaction following transactions such as the sale of Elias Syd to Selatek, the sale of PrimeQ to View Ledger, and the sale of AddQ to QESTIT.


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  • "We have worked with Livingstone for several years, and during this time, they have been of great help to us. This applies not only to financial analysis but also to strategic advice for assessing acquisitions. Livingstone possesses significant expertise in strategically evaluating the business services industry, its development, and trends. Overall, we are very pleased with the close cooperation we have had with Livingstone."
    Hans Gennerud, Senior Partner och CEO, Gullers Grupp
  • Isac Stenborg
    Isac Stenborg

    Managing Partner Stockholm

    "Gullers has a clear acquisition strategy and is very adept at integrating its acquisitions, which quickly creates significant synergies. For us at Livingstone, it’s about providing financial advisory, financial models, and transaction structures that can support the acquisition strategy successfully, which is extremely stimulating. We truly believe that these three acquisitions will contribute in a great way to Gullers’ ongoing growth journey."

Key Transaction Team

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