Private equity firm Triton has exited infrastructure services group Eleda to a consortium made up of its management team.
Eleda was formed by Triton through the consolidation of four Swedish regional companies. It focuses on civil engineering, excavation and other infrastructure services and is headquartered in Stockholm.
The group has around 800 employees and achieved sales of around SEK 3 billion (£242 million) at the end of September 2019.
Peder Prahl, Director of the General Partner to the Triton funds, said: “We would like to thank the management team, the employees and all other stakeholders for their contributions to the successful development of Eleda during Triton’s ownership. We view this as an appropriate time for management to take over as full owners and to continue developing the company further.”
Johan Halvardsson and Peter Condrup, representatives of the management consortium, added: “During Triton’s ownership period, Eleda has had the opportunity to grow into one of the leading companies of our market. We today have a well-functioning platform which offers high-quality infrastructure services. With financing and acquiring the company ourselves, we now look forward to a continued growth together with our employees."
