01 Nov 2007
3i sells Coor Service Management
Coor Service Management specialises in managing, developing and increasing the efficiency of service functions in offices, properties, production facilities and the public sector. Its wide range of services includes instrument calibration, leasing administration and technical safety solutions.
The business has grown substantially following 3i’s backing of the management buyout at the end of 2004. During 3i’s investment period, the Stockholm-based business has doubled both turnover and profits while at the same time increasing the number of employees from 1,800 to 3,700. The service offering was further strengthened, which has led to significant growth in its client base. Moreover, Coor Service Management expanded its range of services as well as its geographical reach to include the whole Nordic region. The business generated €440 million in revenues in 2006.
”Together with Coor Service Management’s management team, it’s been very exciting developing the company into the Nordic region’s market leader,” said Fredrik Karlsson, Partner of 3i Nordic. “In the past three years, we have contributed to the company’s positive development by strengthening its board and actively helping the company expand, both geographically and in its service offering.”
Mats Jönsson, CEO and President of Coor Service Management, added: “Coor Service Management has developed strongly in a fast-growing market. 3i has been an excellent partner and instrumental to our growth.”
”Coor Service Management is a unique business and its development has exceeded all expectations. It’s been a pleasure working with Coor’s capable management team
over the years. I am convinced that the company will continue to grow strongly under its new owner,” said Gustav Bard, Managing Director of 3i Nordic.
The deal is subject to the approval of the anti-trust authorities.
About 3i
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital, venture capital, infrastructure and Quoted Private Equity and invest across Europe, the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders. For more information, please visitwww.3i.com
The 3i European Buyout Business is a leader in the European mid-market. We lead midmarket buyouts up to €1bn using insight from our local knowledge, international connections, and our sector teams. Managing €3bn invested in over 60 companies across Europe, the business invests in all sectors, with a particular focus on media, healthcare and business support services. 3i recently raised a €5bn fund, the largest fund in Europe dedicated to midmarket buyouts.
About Coor Service Management
Coor Service Management is the Nordic region’s leading player in the service management sector. The company specialises in managing, developing and making service functions more efficient for offices, properties, production facilities and the public sector in the Nordic region. Its customers include Ericsson, AB Volvo, Volvo Car Corporation, Saab, Scania, Nokia, Skanska, DHL, Philips, Pfizer, E.ON, EDB, Arcus, the City of Espoo, Östergötland County Council, Sony Ericsson and ICA. The company has 3, 700 employees in Sweden, Denmark, Norway, Finland and Belgium and generated €440m in revenues last year. For more information, please visit www.coor.com
For further information please contact:
Jennifer Letki
email. Jennifer.Letki@3i.com
tel. 020 7975 3190
