AP6 invests in Accent's Hoist

Accent retains the majority, while the company's founder, Malcolm Lindblom, will keep his minority stake. The transaction was a rights issue meaning neither party sold a stake.

AP6 said the investment was the first step towards preparing the company for a potential public listing. It provides the company with SEK 100m additional capital to support continued M&A activity and organic growth.

AP6 is an LP in Accent Equity 2008, the fund that Accent used for the original acquisition, a spokesperson for AP6 confirmed.

The spokesperson said that the question of whether AP6 would remain invested after an IPO was a consideration to be made if there is an IPO. The directive from the owner, the Swedish state, is for AP6 to invest in unlisted assets. But AP6 has the legal right to stay on as an owner after an IPO in order to maximise the value.

Previous funding
Accent acquired a majority stake in Hoist in 2011, drawing equity from Accent Equity 2008. The business generated sales of SEK 600m at the time of the acquisition.

Company
Hoist Group provides hospitality systems, products and services to independent hotels and hotel chains in Europe and the Middle East. The company was founded in 1994 and employs 450 people across offices in 18 countries. Hoist generated EBITDA of SEK 87m from sales of SEK 1.2bn in 2018.

People
Sixth Swedish National Pension Fund – Vidar Andersch (investment director).
Hoist Group – Alfonso Tasso (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Nordics
• Support services
• LPs
• Sweden
• Sixth AP Fund
• Accent Equity Partners