Procuritas to invest in Temporary Space
Procuritas Capital Investors VI has signed an agreement with Ramirent to acquire its Temporary Space business.
Procuritas has signed an agreement to acquire Temporary Space, a business within Ramirent Plc. Temporary Space offers high quality temporary premises primarily for accommodation, schools, health centers and office spaces. With operations in Sweden, Norway, Finland and Denmark, Temporary Space had sales of approximately EUR 30 million in 2017.
Current management has successfully built and led Temporary Space within Ramirent’s organization. They will continue to manage the business going forward to achieve full potential, supported by a more focused ownership model. As part of investing in the future, the organization will be further strengthened to enable realization of the ambitious plan as a stand along company.
“We have followed the positive development in the Nordic market for temporary space solutions and believe that the underlying market fundamentals driving growth will continue going forward.” Says Oskar Lindholm-Wu, Director at Procuritas. “We see a great opportunity to grow Temporary Space further under a focused ownership with an improved customer offering, building on the position the business has taken in the Nordic markets.”
Erik Fougner, Partner at Procuritas Capital Investors, adds – “We look forward to team up with Temporary Space management, Magnus Kjellin and his Nordic team, and embark on our joint future journey, supporting them in their future success.”