Priveq Investment IV (”Priveq”) has, after a successful ownership period including three add-on acquisitions, entry into new geographies and a broadened service offering, together with the other owners divested 21grams (“21grams”) to the Belgian fintech company Unifiedpost Group.
21grams serves companies handling large volumes of communication to optimize and digitalize these volumes to strengthen the companies’ businesses and customer relations. Headquartered in Stockholm 21grams has about 70 employees and revenue of approximately 770 MSEK. Customers include AGA, Länsförsäkringar, Rädda Barnen, ST1, Tele2, Unicef and Vasakronan.
Under Priveq’s ownership, 21grams has grown organically and through several acquisitions that has established the company into new geographies and with a broadened service offering. Revenue has grown from approximately 500 MSEK at the time of Priveq’s investment to approximately 770 MSEK today, with increased profitability.
Through 21grams innovative and agile culture the company’s offering has developed well according to increased digitalisation and demand for payment solutions. From the digital offering originally representing a small share of the product mix, the company today handles about every fourth e-invoice in Sweden.
”21grams has been developing strongly during our time as owner. The company has through its ability to innovate and its perceptiveness to its customers continued to grow and build on its already strong position. Through Unifiedpost Group’s acquisition of 21grams new opportunities to strengthen the customer value and to continue as a platform for Nordic expansion arise. 21grams’ great culture and committed employees has been of uttermost importance for our successful journey” says Louise Nilsson, Partner at Priveq Advisory AB, advisor to Priveq Investment IV and retiring board member of 21grams.
”Together with Priveq we have created structure and put down the foundation for a continued strong growth journey into new markets and new offerings. We are very pleased with the Priveq-cooperation throughout the years, especially with regards to acquisitions and strategy. The 21grams management team is excited about Unifiedpost Groups strong growth agenda that will support us in taking the next step in 21grams’ journey” says Stefan Blomqvist, CEO of 21grams.
For additional information contact:
Louise Nilsson, Partner and Investment Manager, Priveq Advisory AB
Tel: +46 (0)709 50 95 50
Stefan Blomqvist, CEO, 21grams
Tel. + 46 (0)76 808 21 21