Segulah II makes buy and build investment in hardware repair services

19 July, 2004

Segulah II, L.P. today announced that it has simultaneously signed several agreements to acquire businesses in the hardware repair services sector. A platform investment has been made into Swedish company SKV Service AB. On behalf of SKV, outsourcing contracts have been entered into with IBM and leading Nordic electronics retailer ONOFF. In addition Segulah II L.P will acquire Finnish market leader Powermill.
Per-Arne Sandström, retiring deputy CEO/COO of the Ericsson Group, will be Chairman. Kent Bladh, formerly CEO of Teli Service, a Segulah I investment, will be Group CEO

SKV is based in Järfälla near Stockholm with branch offices in Malm” and Gothenburg. The company specializes in hardware repair services and logistics for IT, telecom and consumer electronic products. Including the outsourcing contracts the company will generate revenue of MSEK 100.

Powermill is market leader in electronic repairs in Finland. The company is based in Helsinki with branch offices in Jyväskylä, Kuopio and Turku. Powermill focuses on IT and telecom products and generates revenue of MSEK 90. Closing of the Powermill acquisition will take place August 9 at the latest and is subject only to final bank financing.

“I am very pleased to have been offered the Chairmanship of this Nordic service group. I am thrilled about the potential of this business opportunity and look forward to developing it further together with Kent Bladh and Segulah,” says Per-Arne Sandström, non executive Chairman of the new Group.

“Our plan is to create a Nordic service group and to include the Baltic countries. We will deliver a range of modern cost effective services to manufacturers and resellers of electronic products”, comments Kent Bladh, CEO of the new Group.

Christian Sievert, Managing Partner of Segulah, adds, “We are pleased to have made an investment into a business from which we have prior positive experience and together with Kent Bladh whom we know as a very able manager. We believe this new group has the potential to grow through add-ons and outsourcing deals. Per-Arne Sandstr”m as Chairman will be an important contributor to realizing this potential”.

For further information contact:

Per-Arne Sandström, Chairman
+(46) 705 90 28 83

Kent Bladh, CEO
+(46) 705 36 83 50

Christian Sievert, Managing Partner AB Segulah
+(46) 708 66 96 94

Marcus Jansson, Investment Manager AB Segulah
+(46) 709 68 82 84

Segulah is a private equity company with the business concept to create value by developing medium-sized companies based in the Nordic Region. This is done through two funds, Segulah I, L.P. and Segulah II, L.P., to which AB Segulah acts as exclusive investment advisor. AB Segulah is also the largest limited partner of the funds. Segulah is focused on management buy-outs, meaning that management and Segulah funds jointly acquire, control and develop the company. By using its highly qualified network of industrial advisors, Segulah provides the required experience to improve corporate performance. Segulah’s companies include Previa (occupational health care), CCS (pharmaceuticals & personal care), NVS (HVAC-installer), Callenberg (marine engineering), Norfoods (food ingredients), Education & Entertainment Nordic AB (entertainment distribution), and OTRE (med-tech).

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