Livingstone’s Business Services sector team has advised PCS Modulsystem on its sale to Part Group. The transaction is a perfect match for these two specialists in modular buildings, and an example of Livingstone’s deep sector knowledge of, and established network of entrepreneurs, in flexible building solutions.
Part Group acquires 60 per cent of PCS Modulsystem, with an option to buy the remaining 40 per cent in three years’ time, from PCS’s founder Per-Olof Ekberg. PCS becomes the sixth specialised building services company in the Part Group and will continue to operate and develop under the management of Ekberg, who remains as CEO.
“The Livingstone team guided me through a number of challenging situations during the sales process. It’s been reassuring to have their experience and negotiation skills on my side and I really appreciate the fact that they at the same time have understood and acted on what I’ve deemed important,” says Per-Olof Ekberg, CEO at PCS Modulsystem.
PCS Modulsystem was founded in 1993 and specialises in the rental of high quality modules for temporary accommodation. The company is able to tailor modules according to the customers’ specific needs, due to a comprehensive modular building concept that covers the whole chain from initial design, and manufacturing to on-site assembly and operation of rented modules. PCS has a significant number of modules on ongoing rental contracts with clients and has achieved a notable market share.
Part Group is a family-owned industrial group which was founded during the early 90’s in Kalix, in the far north of Sweden. The Part Group is focused on industrial building processes and comprises five service companies employing 450 staff, of which 300 are in Kalix. The Group is managed by the third generation of the Lundholm family.
Livingstone has seen a significant increase in demand for flexible building solutions off the back of structural demographic trends in Sweden like urbanisation and population growth. Modular or off-site building techniques offer great advantages for customers compared to on-site construction. Modules are assembled indoors in a controlled environment, and minimise installation time whilst maintaining the quality of the product.
“We saw great interest in PCS from both financial and strategic buyers. In this transaction, we got to use not only our experience in the building services sector, but also set up an optimal ownership structure in preparation for a sale early on in the process, and completed the project through carefully planned negotiations,” says Francesco Di Folco, Director at Livingstone.
Livingstone was the exclusive financial adviser to the sellers and Wistrand was legal adviser to PCS Modulsystem throughout the transaction.