Team Olivia signs agreement to divest part of Swedish operations to Attendo
Team Olivia, a leading care service provider in the Nordics has entered into an agreement to sell parts of its Swedish operations to Attendo AB (“Attendo”), a Nordic leader in care services. The transaction includes all operations within individual & family care in Sweden while personal assistance remains with the company.
Team Olivia, a portfolio company of Procuritas Capital Investors IV (“PCI IV”), provides highly specialized care services within personal assistance, individual & family and elderly care in Sweden, Denmark and Norway. The acquisition means that approximately 120 care facilities with around 3,200 clients and nearly 3,000 employees become part of Attendo.
“I’m very proud of the highly competent employees at Team Olivia and the quality of care we deliver on a daily basis. We are also very happy that Attendo has recognized the quality and values of our individual and family services. This new ownership structure ensures that our employees can continue to provide and develop a professional and exceptional care into the future”, says Ola Klingenborg, CEO Team Olivia.
At the time of PCI IV’s initial investment, the company had revenues of c. 200 MSEK and in 2022 Team Olivia reached c. 5,000 MSEK. The growth has been achieved through organic initiatives as well as over 50 add-on acquisitions.
“We are confident that parts of the Swedish operations of Team Olivia is in good hands with Attendo. They have a strong vision and a proven track record of running their operations very successfully. We look forward to following the journey ahead and seeing how they take Team Olivia to the next level”, says Hans Wikse, Senior Advisor at Procuritas.