MCF advises Forsen in the sale of a majority stake to Broviken
Forsen AB (“Forsen”), a Swedish independent adviser and provider of project management, has sold a majority stake of the company to Broviken Gruppen AB (“Broviken”), a Swedish investment company focused on Nordic investments within the service sector. MCF acted as adviser to Forsen and led the focused auction addressing selected financial investors suitable for Forsen’s business needs.
The Deal
MCF advised Forsen in the sale of a majority stake to the financial investor Broviken. For this transaction process, Forsen was looking for a new partner to assist the company in its continued operational development and to harvest the organic growth potential going forward, as well as to explore acquisition initiatives together with Forsen’s management. Broviken is a financial investor investing in small and medium sized companies in the service sector focusing on long-term value creation, which aligns well with Forsen’s core values and business goals. This transaction will give Forsen a solid ownership structure for the company’s continued growth journey, in which the current owners and key members of management will continue to hold a significant ownership stake going forward.
The Target
Forsen is an independent project management specialist and trusted advisor to public and private clients through all steps of a construction project. Founded in 1997, Forsen has for more than 20 years successfully executed project management tailored to each of the company’s 200+ clients’ needs. The company reported revenues of SEK 352 million and an EBITDA of SEK 40 million in 2018. Forsen specialises in qualified and complex projects, providing both traditional project management and Construction Management (“CM”) to resource intensive landmark projects combined with over 300 smaller projects annually.
Client Statement
Bengt Johansson, CEO of Forsen, said: “We are pleased in welcoming Broviken as a new majority owner – a strong partner that will support Forsen’s continued growth and expansion plans. MCF Corporate Finance has been a great partner to us in this transaction process, by maintaining a high level of professionalism and quality throughout the process.”
