Industrifonden backs Magcomp with SEK 10m

Existing owners Volvo Group Venture Capital, Sydsvensk Entreprenörfond and Nicolas Hassbjer, via his company Tequity, also took part in the new share emission, which totalled SEK 25m.

The fresh capital will be used for the company's international expansion. Already present in Sweden, Magcomp will look to start trading in Germany next as a first step towards expanding into the European market.

Industrifonden invests in small- to mid-cap Swedish businesses with international growth potential. The fund has SEK 3.5bn in assets under management and investments in close to 90 companies in the technology, cleantech, life sciences and industrial sectors.

Company
Based in Eslöv, Magcomp has its roots in research from the university Lunds Tekniska Högskola. It has developed a technology for electromagnetic products that enable energy savings.

The company's customers include Sandvik, Tarkett, Dynbapac and Atlas Copco. Magcomb had a turnover of close to SEK 7m in 2012.

People
Lennart Gustafson is director of investments at Industrifonden. Sten Camitz is the CEO of MagComp.

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