Litorina invests in Swedish stationary company Gullbergs


Stockholm-based buyout house Litorina has bought a controlling stake in Gullbergs Sverige, a company that provides office supplies to SMEs in Sweden.

Gullbergs was founded in 1936 and is the largest Swedish-owned company in its market and the leading provider of office supplies to SMEs in the country.

In recent years the company has shown strong growth, primarily through increasing sales with existing customers and winning new accounts, but also through acquisitions, it said.

Gullbergs has 21 outlets, mainly in the south of Sweden and the Mälardalen region, which serve more than 25,000 customers.

The company has increased sales by 15 per cent annually in the last ten years, posting sales of SEK515m ($74m) last year.

Gullbergs will be headed by Tomas Bergström, the former CEO of Litorina portfolio company Textilia, who will become group CEO and invest alongside the firm.

Its majority owners will retain a significant minority ownership.

“Gullbergs has a unique company culture and we are very impressed by the company’s ability to combine strong growth and profitability”, said Litorina partner Paul Steene.

The new funding, which will be sourced through the firm’s Litorina IV vehicle, will enable the company’s continued organic and acquisitive growth.

Financial terms of the deal were not disclosed.

Copyright © 2012 AltAssets