Varenne sells Pema to VC-backed JobAndTalent

Pema's founder, Magnus Andersson, will also sell his stake in the company. Dagens Industry noted that the deal value was undisclosed, but estimated it to be around SEK 100-200m (€10-20m).

The reported trade sale comes a decade after Varenne's first investment in Pema in 2011. The PE firm became a majority owner of the company in 2016. Under its ownership, Pema's revenues increased from around SEK 170m in 2011 to nearly SEK 600m in 2020.

The acquisition will help facilitate JobAndTalent's growth in Sweden. The Madrid-based company currently operates in eight countries and in March this year raised a €100m series-D round led by Softbank. Other investors include InfraVia Capital Partners,  Atomico, Seek, DN Capital, Kibo Ventures, Quadrille, FJLabs, Softbank and Blackrock.

JobAndTalent's Sweden manager, Tassos Karamouzis, said to Dagens Industry that the company had looked at the Swedish staffing sector carefully and contacted Pema earlier this year. With the help of the acquisition, he said the company was now targeting revenues of more than SEK 1bn by 2022.

Company
Founded in 1997 and headquartered in Norrköping, Pema offers staffing services to various sectors, including engineering, warehousing, logistics, construction, civil engineering and offices. The company had sales of around SEK 600m in 2020 and has around 1,300 employees.

People
Varenne – Tommy Jacobson (chairman).
JobAndTalent – Tassos Karamouzis (manager, Sweden).

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