The owner of Uppländska Berg, PE fund Verdane Capital VIII, has acquired Bellmans Åkeri & Entreprenad AB to form a new major market player in the Swedish construction industry. The new company will have turnover of SEK 800 million and around 150 employees. Including subcontractors, the company will employ around 750.
Bellmans Åkeri & Entreprenad was founded in 1972 and is currently Stockholm’s largest building and construction transporter. The company carries out excavation, transport and blasting work, and transports trucks and construction equipment with operators. Uppländska Berg is one of Sweden’s largest full-service companies in mining, with a complete offering of specialist services.
Verdane, a private equity fund specialised in advanced industrial sectors, has been the majority owner of the company since February 2016. Bellmans and Uppländska Berg are already successfully co-operating, and the new company structure will allow the combined group to take on larger and more complex client projects. The ambition is to create a major player in the construction market through organic growth and further 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 maintained positive and constructive dialogue with the owners of Uppländska throughout the process. 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 hold 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.