The investment from the firm’s IK VII Fund will enable the business to “grow and strengthen further”, IK said. Financial terms of the transaction are not disclosed.
Ramudden, founded in 2005, and based in Sundsvall and Gävle, Sweden, delivers products and services for temporary traffic control, including the rental of equipment, traffic arrangement plans, education programmes, surveillance and maintenance services.
The company has also been present in Norway since 2009 and Finland, since 2012. Ramudden’s customers are mainly civil engineering contractors and construction companies. Total revenue for the year ended 2013 amounted to SEK239m.
The company is headed by its current main shareholders, Hans-Olov Blom, founder and CEO of Ramudden, and Birger Larsson, CEO of Ramuddenbolagen .
“We are very impressed by Ramudden’s strong track record, the quality of its management and organisation, and the company’s entrepreneurial culture. By leveraging our expertise of supporting management teams in developing and growing businesses, our past experiences with rental businesses and our vast industrial network in the Nordics, we look to support the Ramudden team in growing and strengthening the Company over the coming years,” said IK partner Kristian Carlsson Kemppinen.
Ramudden is the fourth investment from IK VII Fund, which invests in pan-European mid-sized companies. The fund closed in October 2013 with total commitments of €1.4bn. The other three investments are Hansen Protection, the Norwegian specialist in survival suit rental; Ampelmann, a provider of rental of Motion Compensated Gangway (MCG) systems to the offshore energy sector based in the Netherlands; and VPS, a global leader in fuel management services.
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