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BST

Employees
c. 400
Countries
3
Local Offices
25+
Status
Realised
Country
Sweden
Strategy
Small Cap
Entry
May-19
Exit
Dec-21
Fund
IK SC II
Website

Leading provider of active fire protection services in Sweden

At the time of exiting, BST (“the Company”) was a leading Swedish provider of active fire protection services and was uniquely positioned as a full-service fire safety specialist through its main business areas: Fire Engineering, Consultancy & Design, Installation and Aftermarket Service.

Through its strong local presence across Sweden with a full-service offering and blue-chip client base, the Company had established a leading market position.

The Company is headquartered in Stockholm and operates through a network of branches in Sweden. In 2020, BST also established local presence in Norway and Denmark.

BST was acquired by IK Partners in May 2019 alongside the three co-founders and certain members of the management team. In December 2021 IK Partners sold its entire stake in BST to Norvestor.

Our Value Creation Strategy

During our ownership, we worked alongside management to:

  • Continue Swedish expansion through organic growth within existing business areas and locations as well as greenfield expansion;
  • Focus on organically growing the aftermarket service business;
  • Drive consolidation of the Swedish market by executing on identified acquisition targets;
  • Expand internationally by targeting the Nordics; and
  • Expand into adjacent business areas, for example, fire engineering (completed through acquisitions of Brandkonsulten and Bricon in 2021).

Investment Team

Kristian Carlsson Kemppinen

Managing Partner, Head of Small Cap Strategy
Stockholm

Erik Ingemarsson

Partner
Stockholm

Henrik Geijer

Director
Stockholm