Werksta embarks on a new stage of its growth journey with investment from Procuritas, LGT Capital Partners and Puskala Invest
Procuritas Capital Investors, LGT Capital Partners and Puskala Invest have agreed to acquire Werksta Nordic AB, the leading independent car damage repair chain in the Nordics, in a transaction where the majority selling party is Procuritas Capital Investors V fund. Key management will reinvest and retain significant ownership of the company after the transaction.
Werksta was formed in 2015 through Procuritas’ investment in two individual body shops in Sweden with a combined revenue of €12 million, and has grown into a pan-Nordic €160 million revenue business with ca. 900 employees and the preferred partner for many insurance companies.
“We have achieved fantastic success creating and growing Werksta into the clear frontrunner in the Nordic car damage repair industry, and there is still a huge opportunity for further market consolidation and growth. We are therefore excited to be reinvesting in the business, alongside our new minority partner LGT Capital Partners and long-term partner Puskala Invest, so we can continue to support the Werksta management team as they focus on further building partnerships with insurance companies and developing the customer experience offering”, commented Mattias Feiff, Co-Managing Partner at Procuritas.
Andreas Hellmann, Partner at LGT Capital Partners, commented: “We are delighted to partner with Procuritas and the team at Werksta. They have shown great ability developing the Werksta platform already into a true market leader. It gives us great confidence that Procuritas is renewing its commitment and we are looking forward to the next phase of growth together.”
“My journey with Procuritas started in 2016 when Werksta acquired Autoklinikka in Finland. Since then, we have together driven the development of both the company and the market in the Nordics. I’m thrilled to see us continuing this long-term partnership to develop Werksta further”, commented Patrik Puskala, owner of Puskala Invest.
Procuritas has a strong track record over many years of investing in companies that have the potential to undergo transformational growth, in this instance through a buy-and-build strategy to facilitate accelerated development and multi-regional expansion of the group.