Accent Equity Partners has purchased a majority stake in Swedish equipment rental business Stål & Hyr via its Accent Equity 2012 fund.
The size and value of the transaction remains undisclosed. According to local media reports, Accent secured an 80% stake in the business. The GP bought its shareholding from brothers Jörgen Grubbeson and Glenn Andersson, who have been with the business since inception and took over ownership from their father in 1993.
Accent drew equity from its Accent Equity 2012 fund to finance the acquisition. The mid-market vehicle closed on its SEK 3.8bn target in December 2011, according to unquote" data. The GP usually deploys equity tickets of €5-50m in companies with enterprise values in the €10-250m range.
In its previous deal in January this year, Accent entered the ownership structure of Söderhamn-based forestry machinery maker Eco Log via its 2012 fund.
Founded in 1979, Stål & Hyr rents machines and other pieces of equipment to the construction industry. These products include tools, excavators, lifts, electrical equipment and sheds, among others.
The company is headquartered in Varberg, with additional depots in Kungsbacka, Falkenberg and Gothenburg. According to the GP, Stål & Hyr has grown by an average of 22% over the past three years and most recently posted a SEK 226m turnover.
Accent Equity Partners – Carl Fürstenbach (partner).
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