Priveq Investment IV (”Priveq”) has, together with other owners, sold Nordic Room Improvement (“NRI”) to the Swedish trading company Conventium, a wholly owned subsidiary of Profura Industri. During Priveq’s ownership period, NRI has carried out several acquisitions and centralized logistics and management services for the group companies.
NRI is a group that develops, markets and sells interior, exterior and renovation products to consumers and professionals in the Nordic region. The business is mainly conducted under three own brands – Lundbergs, JABO and Duri, which have market-leading positions in their respective product segments. The Group has approximately 70 employees and sales of approximately SEK 350 million.
During Priveq’s ownership period, NRI completed the acquisition of JABO, a leading brand within exterior products such as fences, screens and sheds. A joint logistics center has been established in Tranemo, which handles all NRI’s products. The tile and brick accessories company KGC was acquired in 2016 and divested two years ago to Bergman & Beving.
“NRI has created an efficient common platform in logistics, purchasing, marketing and IT. The management has done an excellent job during this process and created the conditions for continued growth. We wish them all the best together with the new owner”, says Karl-Johan Willén, partner at Priveq Advisory AB, advisor to Priveq Investment IV and leaving board member of NRI.
“I appreciate our close collaboration with Priveq. Together we have built a structure and efficiency that is now the basis for building on our strong brands. We are pleased to continue to develop NRI together with the Profura Group and look forward with excitement to the next few years”, says Lars Andréason, CEO of NRI, in a comment to the deal.
The takeover, which requires the approval of the Swedish competition authority, is expected to take place on April 1st, 2021.
For additional information contact:
Karl-Johan Willén, Partner and Investment Manager, Priveq Advisory AB
Tel: +46 (0)709 50 88 25
karljohan.willen (at) priveq.se
Lars Andréason, CEO, Nordic Room Improvement
Tel. + 46 (0)702 61 62 29
lars.andreason (at) nrigroup.se