News. 13/04/22

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.

For further information, please contact: Mattias Feiff Co-Managing Partner, Procuritas +46 8 506 143 00 mattias.feiff@procuritas.com About Procuritas Procuritas is a mid-market Nordic private equity investor, building up regional service champion and global niche leaders through transformative growth. As the longest-established private equity firm in the Nordics with a 35-year track record, Procuritas has carefully invested in more than 45 companies, accelerating their growth and helping them to realize their true business potential. The long-serving team is characterised by its passion for business, hands-on experience, enthusiasm, commitment to ESG-linked value creation initiatives and strong belief that they are allies in the quest to build strong and sustainable businesses. Read more at www.procuritas.com. About LGT Capital Partners LGT Capital Partners is a leading alternative investment specialist with over USD 85 billion in assets under management and more than 600 institutional clients in 42 countries. An international team of over 650 professionals is responsible for managing a wide range of investment programs focusing on private markets, liquid alternatives and multi-asset class solutions. Headquartered in Pfaeffikon (SZ), Switzerland, the firm has offices in Raleigh, New York, Dublin, London, Paris, Vaduz, Frankfurt am Main, Dubai, Beijing, Hong Kong, Tokyo and Sydney. About Werksta Werksta is the Nordics’ leading car damage repair chain with more than 80 workshops in Sweden, Finland, and Norway. The group employs more than 900 professionals and had sales of more than SEK 1.6 billion in 2021. Read more at www.werksta.se.

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