Karnell Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Karnell has acquired 3 companies.

Karnell’s most common sectors for investment aremanufacturing (30%) and consumer products (20%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (70%) and growth capital (20%). In total, Karnell has invested in 1 US state and 3 different countries.

In the last 3 years, Karnell has exited 2 companies. The Firm’s most common exit type is secondary buyout (50%). Karnell’s largest (disclosed) exit occurred in 2018 when it sold Wermland Mechanics Töcksfors AB for $20M.

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M&A Summary

  • M&A Total Activity14
    • M&A Buy Activity10
    • M&A Sell Activity4
  • Total Sectors Invested 7
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 3

Karnell

Riddargatan 13,
Stockholm, SE-114 51
Sweden
+46 8 545 891 00
www.karnell.se
info@karnell.se

Karnell is a private equity group focused on acquiring majority positions in Nordic based industrial and technology companies. The Firm is an active owner and prefers businesses with their own manufacturing, development and sales capabilities. Karnell was formed in 2008 and has offices in Stockholm and Helsinki.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Business Services, Consumer Products, Consumer Services, Education, Food, Forest Products, Information Technology, Internet Software and Services, Machinery, Manufacturing, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Secondary Buyout

Geographic Preferences: Scandinavia

Transaction Criteria Min Max
Target Revenue 50 500
Target EBITDA - -
Investment Size 50 150
Enterprise Value - -
values in millions of SEK

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (0.6/yr) # 7 - - - 3 - 10
Sell (0.4/yr) # 2 - - 2 - - 4
vol $20M $20M
  14

Most Recent M&A

Company Date Value Type
Konepaja Timeka Oy 2022-09-22 - Buyout (LBO, MBO, MBI)
Mynämäki, Finland · www.timeka.fi
Drivex AB 2022-03-31 - Buyout (LBO, MBO, MBI)
Edsbyn, Sweden · www.drivex.se
Rotomon Oy 2022-01-11 - Buyout (LBO, MBO, MBI)
Kangasniemi, Finland · www.rotomon.fi
Silva Sweden AB 2021-06-30 - Secondary Buyout
Bromma, Sweden · www.silva.se
Nordic Vehicle Conversion AB 2021-06-30 - Secondary Buyout
Backaryd, United States · www.nordicvehicle.se
Wermland Mechanics Töcksfors AB 2018-01-18 20M SEK Add-on Acquisition
Töcksfors, Sweden · www.wermech.com
Tietomekka Oy 2017-10-15 - Buyout (LBO, MBO, MBI)
Oulu, Finland
Tekniseri Oy 2017-04-19 - Buyout (LBO, MBO, MBI)
Kempele, Finland · www.tekniseri.fi
Wermland Mechanics Töcksfors AB 2012-06-01 - Growth Capital
Töcksfors, Sweden · www.wermech.com
Silva Sweden AB 2011-07-08 - Divestiture
Bromma, Sweden · www.silva.se
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 2 (33%) - 3 (30%) -
Consumer Products 1 (17%) - 2 (20%) -
Automotive - - 1 (10%) -
Business Services 1 (17%) - 1 (10%) -
Consumer Services - - 1 (10%) -
Plastics 1 (17%) - 1 (10%) -
Software 1 (17%) - 1 (10%) -
Total 6 - 10 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
Sweden 2 (33%) - 5 (50%) -
Finland 4 (67%) - 4 (40%) -
United States - - 1 (10%) -
Total 6 - 10 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (100%) - 7 (70%) -
Growth Capital - - 2 (20%) -
Divestiture - - 1 (10%) -
Total 6 - 10 -

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (50%) -
Trade Sale - Public Company 1 (25%) 20M (100%)
Divestiture 1 (25%) -
Total 4 $20M

Deal Values

sell # Total
< $100M 1 $20M
TOTAL $20M
Largest Wermland Mechanics Töcksfors AB
$20M (2018-01-18)

M&A Connections

Deals
Acquired from
Strategic(s)
10%
1 (10%)
Exited to
Investor(s)
75%
3 (75%)
Strategic(s)
25%
1 (25%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

Established

2008

Specialist/Generalist

Generalist

Leadership

Petter Moldenius

CEO

Cecilia Hed

CFO

Mika Venho

Senior Investment Director

Anders Elgemark

Investment Director

Simon Lönnvik

Investment Director

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