Procuritas acquires Olivia Group
Press Release, Stockholm
Procuritas acquires a majority of the shares in the Olivia group, a company specializing in personal assistance for functionally impaired individuals, and elderly care services. The company has sales of 250 MSEK and is based in Stockholm, Sweden.
Olivia has a strong market position in personal assistance for functionally impaired individuals and a fast-growing business area focusing on elderly care services in Sweden. The company started the existing operations in 2002 and has grown considerably since then. The company was founded, and is still managed, by Karsten Inde, who previously successfully founded and built up the Frösunda group. “Olivia is a really exciting company that has reported a sales growth of more than 50 % per annum since inception and is today a strong player in personal assistance for functionally impaired people, and elderly care services”, says Hans Wikse, Partner at Procuritas. “We will, together with Karsten Inde and the management, continue the organic expansion but we will also contribute with capital and experience for consolidating the market within care for functionally impaired people and elderly care services”.
Olivia has head office in Solna, Sweden, and has local offices in ten cities in Sweden. “I think it will be very exciting to continue to build the Olivia group to an important player in the healthcare services sector”, says Karsten Inde, founder and CEO of Olivia. “The intention is, with focus on high quality, to expand through acquisitions of companies in the healthcare sector”.
Procuritas acquires a majority of the outstanding shares in the Olivia group, which includes Olivia Personlig Assistans, Olivia Vård och Omsorg, and Olivia Hemservice. Karsten Inde, together with the management, will retain a minority stake in the company.
Procuritas is focused on investments in mid-sized companies in the Nordic region. Previous investments in Procuritas advised funds include e.g. Thermia, North Trade, Disa, Wermland Paper, Ticket Travel, Däckia and Lekolar.
“We at Procuritas are actively working with a number of transactions and we expect to complete more acquisitions during this year” says Mikael Ahlström, founder and Partner at Procuritas. “We can see that our large network of people enables us to find acquisition opportunities outside the auction processes, which is exemplified by the Olivia acquisition.”
For questions, please contact:
Olivia’s CEO Karsten Inde, phone +46 70 727 0455
Procuritas AB, Hans Wikse, phone +46 8 506 143 00