Celero Capital has signed agreements with the owners of four companies—ICG Sverige AB, Ekebybruk Städ och Lokalservice AB, Bofint Städservice Sverige AB and Exiso AB—to establish Reledo, with the ambition of becoming a leading provider of facility management services in the Nordic SME market through tailored, customer-focused solutions.
The entrepreneurs and management teams of the four companies will collectively own approximately 15% of the newly formed group.
By bringing together these four successful businesses, Reledo launches with a strong position in the Swedish market, offering customers a broad and customised range of facility management services. As of March 2023, the group had pro forma revenues of approximately SEK 230 million and employed more than 400 people.
The facility management market—including cleaning, food and beverage services—is large, highly fragmented and has demonstrated stable long-term growth with limited cyclicality. The sector also continues to benefit from the ongoing trend towards outsourcing.
The establishment of Reledo marks the first step in Celero Capital’s strategy to consolidate the Nordic SME facility management market. Celero is currently in dialogue with a number of high-quality, customer-focused businesses and looks forward to further expanding the Reledo Group in the near future.
“We are proud to announce the launch of Reledo together with ICG, Bofint, Ekeby and Exiso. The creation of Reledo builds on Celero’s extensive experience of partnering with entrepreneurs and executing acquisition-driven growth strategies. We now look forward to rapidly developing the group by leveraging the strengths of collaboration while continuing to acquire complementary businesses across the facility management market,” says Peter Möller, Managing Partner at Celero Capital.
“We are delighted to become part of Reledo and look forward to developing the group together with Celero Capital. By working together, we will be even better positioned to offer our customers broader and more flexible facility management solutions. Our shared ambition is to create better workplaces and make everyday life easier for our customers,” say Carlos Said, Karin Linden, Lucas Börjesson and Mikael Norden, CEOs of the four founding companies.
Celero Capital was advised by Rene Partners, Hansen Advokatbyrå, Arkwright, Deloitte and Frank Partners throughout the transaction.