Hg exits Frösunda after eight-year holding

The Pan-European investor sold its majority stake in Frösunda to holding company Brado, which belongs to brothers Kristian Adolfsen and Roger Adolfsen, shareholders in The Adolfsen Group.

The deal marks the end of an eight-year holding period for Hg, which acquired the business in May 2010 from Danish private equity firm Polaris.

Frösunda saw the acquisition as an opportunity to continue developing the company and to fully focus on its core business of providing care to customers, the company's CEO said in a statement.

Previous funding
The company became an independent business, backed by Danish private equity firm Polaris, in 2007. During the GP's three-year holding period, it achieved an organic growth rate of 11% and saw its turnover grow from SEK 820m to SEK 1.8bn. 

Hg acquired Frösunda from Polaris in May 2010, signing an exclusivity agreement with the sellers in March 2010 and thereby avoiding an auction process. Nordea and SEB provided a senior debt facility to finance the transaction.

Company
Founded in 1994, Swedish specialist disability care provider Frösunda is headquartered in Solna and was originally a subsidiary of healthcare services cooperative Praktikertjänst. Frösunda provides personal assistance and housing services for adults and children with physical or mental disabilities. It also has an emerging coaching and schools business. The company currently employs 8,000 people.

People
Frösunda – Susanne Sidén (CEO).

Advisers
Equity – Carnegie (M&A); ABG Sundal Collier (M&A).
Company – United Bankers Group (financial due diligence).

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

• Topics
• Exits
• Nordics
• Healthcare
• Sweden
• HgCapital
• Carnegie
• ABG Sundal Collier