The owners of Uppländska Berg, PE fund Verdane Capital VIII, acquires Bellmans Åkeri & Entreprenad AB and forms a new major market player for the Swedish construction industry. The new company is expected to have a turnover of some SEK 800 million and have around 150 employees. Including subcontractors, the company will employ around 750.
Bellmans Åkeri & Entreprenad was founded in 1972 and is currently Stockholm’s by far largest building and construction transporter. The company carries out excavation, transport, blasting and excavation work, and conveys trucks and construction equipment with operators.
Uppländska Berg is one of Sweden’s largest full-service companies in mining, with a complete offering of qualified services. Verdane, a private equity fund specialised in advanced industrial sectors, has been a majority owner in the company since February 2016.
Bellmans and Uppländska Berg are already successfully cooperating, and the new company structure will now facilitate the company to take on larger and more complex client projects. The ambition is to create a major player on the construction market through organic growth and additional acquisitions.
The company will continue to be led by current management and owners of Bellmans and Uppländska Berg remains as a significant part owner.
“With Livingstone’s help, we’ve been in successful dialogue with the owners of Uppländska throughout the process. We appreciate that Livingstone’s team looked after what mattered to us during the transaction and in the set up of the new company,” says Håkan Lind, part owner in Bellmans and CEO in the new parent company.
“Both Bellman’s and Uppländska Berg holds leading positions in their respective niches and will together create a very powerful platform for building a group with a full-service offering for the building and construction industry,” says Henrik Widlund, Director at Livingstone.