Sunds Fibertech, a company offering solutions for panelboard production processes, has recently won awards such as “Best international growth” in Ernst & Young’s competition “EY Entrepreneur of The Year”, DI Gasell and “Company of the Year” in Timrå municipality. To take the next step in Sunds Fibertech’s rapid development, the company has now entered a partnership with Priveq.
“We are impressed by how Sunds Fibertech in a short time has established itself internationally as a key player in a global market with a few suppliers. We look forward to, in partnership with founders and employees, supporting the company in its ambitions to put Timrå on the world map as a new center for fiberboard manufacturing,” says Karl-Johan Willén, Investment Manager at Priveq.
“Combined with our already strong product portfolio, we are now creating the conditions to become one of the leading companies within the industry. We bring in a strong partner with a proven ability to develop international growth companies. The goal is to turn over one billion within the next five years,” says Lars Eklund, CEO of Sunds Fibertech.
For centuries, the coast of Norrland has been the center of the Swedish wood products industry. Timrå now brings the next Swedish international industrial success, Sunds Fibertech, with its innovative and high-tech solutions for the production of wood fiber boards, with a focus on reduced energy consumption, emission control and capacity increase.
Since its inception in 2016, Sunds Fibertech has established itself as a technology leader for equipment for the production of fiber boards. In 2022, the company, which was founded by the Eklund brothers, had a turnover of SEK 233 million with strong growth and high profitability.
With a strengthened ownership profile, the goal is to maintain the high organic growth rate and at the same time enable strategic acquisitions in line with the company’s core business, i.e., products that improve fiber board manufacturers’ energy consumption, environmental impact and factory capacity.
Henrik Jatko, Investment Manager at Priveq adds, “Sunds Fibertech has developed new niche efficiency-enhancing products for the global market in energy efficiency and emission control through a customer and service-oriented approach. We are convinced that these are areas that will continue to grow in importance for a long time to come.”
The current owners, Kenth Eklund and Lars Eklund, retain a large part of Sunds Fibertech while Priveq becomes the new majority owner. The Eklund brothers will continue to be key people in the long-term investment that the company is making.