Stockholm/Oslo 27th of June 2019
El-Björn AB and Satema AS creates Northern Europe’s largest player in temporary power – climate – light. United Power is the name of the new group and Connecting Capital will be the principal owner together with Svein Persson and Tore Persson, Satema AS.
El-Björn, headquartered in Anderstorp, was founded in 1954 and Satema, headquartered in Oslo/Moelv, was founded in 1963 and both are leading suppliers of temporary solutions in the product areas of power, climate and light to the European market. Satema is also a leader in permanent power solutions such as generators and power distribution units. The companies have developed well and together they complement the offers to customers and have the opportunity to undertake larger projects. Product development will also be reinforced by the joint venture, not least in a digitised world, which requires increased resources. The companies operate in a market driven by growth in new products that require sustainable and energy efficient electricity supply solutions.
United Power AB is the new group’s holding company which will coordinate the two well-established brands.
El-Björn and Satema will continue as separate brands and United Power will contribute with coordination of the new group and business development.
«We at Connecting Capital, as an industrially oriented investment company, are excited to be a co-creator of United Power! A small historical moment together with the owners and management in Satema and the management of El-Björn, says Lars Nordin, chairman of the board.
«We, as the owners of Satema, see this business deal as a possibility to create a larger group with sufficient resources for expansion both in terms of products and geographically,» says Svein and Tore Persson, owner of Satema.
United Power will have production in Norway, Sweden, Finland and Latvia. The group employs about 250 people and has a turnover of about 750 MILLION SEK.
Oaklins Norway has assisted Satema as an advisor in the transaction.
For further information please contact:
Tomas Ståhl, CEO Connecting Capital
Tel. + 46 705 80 89 02
Svein Persson, CEO Satema
Tel. + 47 404 13 310
Sören Sörensen, CEO El-Björn
Tel. + 46 706 20 33 88
About Connecting Capital
Connecting Capital is a Swedish investment company that has its roots in industry, with a history in the manufacturing industry. The business is conducted in a limited liability company form, which means that there are no time constraints on its investments. The focus is on establishing good and long-term relationships as a basis for long-term industrial generation of value through active and committed ownership. Connecting Capital makes investments in three areas: asset management, real estate and in unlisted industrial companies with their own products and good growth. For further information, see www.connectingcapital.se
Satema has since its establishment in 1963, evolved to become a major player in the construction industry. The head office with administration, sales, marketing and warehousing is centrally located at Ryen in Oslo, while production is in SATEMA MOELV AS. The group also includes SATEMA AB in Sweden (sales and temporary power), SATEMA BALTIC in Latvia (electrical assembly) and SKAARET AS at Stange in Hedmark (electrical cabinets). Satema AS has 129 employees and in 2018 the group had a turnover of 350 Million NOK. For further information, see www.satema.no
El-Björn develops, manufactures and markets temporary comprehensive solutions in the product areas of power, climate and light. The company had a turnover of 325 Million SEK in 2018 and approximately 110 employees, of which the majority of them are based within the Swedish operations. El-Björn’s primary markets are the Nordic region and the UK. El-Björn’s head office is located in Anderstorp. Production is carried in Anderstorp as well as in Turku, Finland. For further information, see www.elbjorn.se