Crem International continues its expansion with Welbilt as new owner
Priveq Investment Fund IV L.P. has together with the other owners of Crem International entered into an agreement to divest Crem International to Welbilt, Inc., a leading global provider of foodservice equipment listed on NYSE.
Crem International is a global company of recognized prestige in the production of professional coffee machines, adding more than 50 years of experience in the market and sales into more than 80 countries. Crem International develops, manufactures and markets coffee machines under three strong brands – Coffee Queen, Expobar and Spengler.
In 2012, Priveq invested as a majority owner in Crem International alongside with SEB Venture Capital, the founders Georg Möller and the Olaso family, and the management in Crem International led by the CEO Sebastian Lindström. Crem International has for the duration of Priveq’s ownership grown to a leading player in the market for professional coffee machines in all important segments.
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Karl-Johan Willén is Partner and Investment Manager. He is responsible for sourcing new investment opportunities as well as working with growth strategies, acquisitions and incentive programs for the companies owned by Priveq. Karl-Johan is also responsible for Priveq’s work within ESG (Environmental Social and Corporate Governance).
Since Karl-Johan joined Priveq in 1998, he has been responsible for Scandinavian Photo, Sydtotal, San Sac, Unisport Scandinavia and Crem International. He is currently a Director of the Boards of Danfo, Nordic Room Improvement and Visual Art.
He holds an M.Sc. in Financial Economics from the University of Gothenburg School of Business, Economics and Law and La Trobe University, Melbourne, Australia. Karl-Johan also studied Business Intelligence at Stockholm University.