IK to support fire protection company BST
IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire BST Brandskyddsteamet AB (“BST Group”), a leading Swedish provider of active fire protection services, from Infrea AB (publ). Financial terms of the transaction are not disclosed, and the completion of the transaction is subject to regulatory approval. The founders and management team will remain as shareholders.
BST provides a wide range of sprinkler system services, including consultancy & design, installation and repair & maintenance. Through its strong local presence across Sweden with a full-service offering and blue-chip client base, the Company has established a solid market position. The Swedish sprinkler market has experienced strong growth historically and is expected to continue to grow at a high pace driven by favourable trends such as tightening regulation, increased safety awareness and urbanisation.
“Despite its relatively young age, BST has established itself as a Swedish market leader within the fire protection market. We are truly impressed with the management team and all of BST’s employees, and we look forward to supporting the company as it continues on its growth trajectory,” said Kristian Carlsson Kemppinen, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund.
“IK is a strong partner to support BST’s future development. BST has been a successful holding for Infrea and has increased its sales by over 50% during the ownership period,” added Tony Andersson, CEO of Infrea.
“BST was founded by entrepreneurs in 2012 and has grown rapidly since. I would like to thank Infrea for their support over the past few years. We are very excited to team up with IK given their vast experience in the fire protection industry,” concluded Peter Bühler, CEO and Co-Founder of BST.
BST will be the third investment in the fire protection segment made by IK Funds. In 2009, IK facilitated the merger between Minimax and Viking, resulting in one of the world’s largest companies in fire protection, and in 2015, the IK Small Cap I Fund backed svt Group, a leading German provider of passive fire protection.
For further questions, please contact:
IK Investment Partners
Kristian Carlsson Kemppinen
Phone: +46 8 678 95 00
Director Communications & ESG
Phone: +44 77 87 573 566
Phone: +46 8 401 01 81