Livingstone has advised TM Konsult on sale to AFRY

  • May 2021
  • Business Services
  • M&A: Sell-Side
  • Sweden

Livingstone has advised TM Konsult, a market-leading architectural and technical consulting company, on its sale to AFRY, a global consulting leader. The acquisition of TM Konsult plays well in AFRY’s strategic positioning and expansion. Afry gains a significant position in northern Sweden just as the company is establishing a comprehensive customer offering in construction and real estate. TM Konsult’s strong regional market position and longstanding relationships with well-known customers allowed Livingstone to position the investment opportunity competitively and manage a structured sales process.

Livingstone’s team has provided excellent support for me and the rest of the co-owners throughout the sales process. As a result, the deal has been professionally handled. We are confident that TM Konsult and AFRY together will create great opportunities for both customers and employees in the future,” stated Kennet Holmbom, former co-owner of TM Konsult.  

Founded in 1966, today TM Konsult is a well-established architectural and technical consulting company in Sweden with projects spanning from Kiruna in the north to Stockholm in the south. With its broad range of services and strong local roots, the company has grown into a leading market player with offices in eight cities in Västerbotten and Västernorrland. 

AFRY is a leading European company with a global reach in engineering, design, and advisory services. The company has 16,000 experts who work across three main sectors: infrastructure, industry, and energy. 

TM Konsult has established a market-leading position in northern Sweden and will, as part of AFRY, benefit from strengthened customer offering and extended reach. AFRY completes a strategic investment and will, through the acquisition of TM Konsult, become an increasingly relevant service provider in the growing geographical region,” stated Isac Stenborg, Partner at Livingstone.

Becoming part of a company like AFRY brings many development opportunities for both our employees and customers, for which I am pleased. We look forward to contributing together to the development of AFRY in northern Sweden,” commented Anders Franklin, CEO at TM Konsult. 

Livingstone acted as the exclusive financial advisor. Setterwalls was the legal advisor to TM Konsult during the sales process.

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