HG CAPITAL takes majority stake in FRÖSUNDA
Context
Pan-European private equity firm HgCapital has entered into a definitive agreement to acquire Frösunda LSS AB from Danish private equity sponsor Polaris. Executed by HgCapital’s dedicated healthcare sector team (marking its second investment in the space within a six-month period) the transaction remains subject to customary regulatory clearances. This buyout firmly aligns with the sponsor’s core strategy of targeting premium Nordic platforms that are underpinned by highly favorable macro-demographic tailwinds and a persistent structural shift toward the outsourcing of care services. HgCapital’s primary mandate is to cement Frösunda’s position as the undisputed leader in the Swedish specialist care market, a highly defensive segment expanding at over 10% annually. Partnering closely with the management team led by CEO Goran Fredriksson, the sponsor intends to execute an aggressive, hybrid value-creation playbook. This strategy will focus on accelerating organic top-line momentum, driving meaningful margin expansion through economies of scale, and deploying a rigorous buy-and-build M&A program. Management has already identified over 30 target segments to broaden the platform’s footprint into highly adjacent, specialized markets, including psychiatry, special schools, and high-acuity autistic spectrum disorders (ASD).
FRÖSUNDA, which reported an EBITDA margin of [members only] in 2010, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Frösunda LSS AB is a Swedish company specializing in care for people with disabilities, originally a subsidiary of the healthcare services cooperative Praktikertjänst, and became an independent business in 2007 after being acquired by Polaris, a Danish private equity firm. Frösunda provides personal assistance and housing services for adults and children with special needs, as well as coaching and schools services. The company has 41 offices across Sweden and cares for 1,600 users. Frösunda's business model is based on providing high-quality care services, with a diversified range of services and an experienced management team.
Ent. Value
SEK 1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (SEK)
Other operations with FRÖSUNDA
Other operations with FRÖSUNDA
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2018 | THE ADOLFSEN GROUP | FRÖSUNDA | SWEDEN | Healthcare Facilities |
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|---|---|---|---|---|
| 01/2015 | CERBA HEALTHCARE | NOVESCIA | FRANCE | Labs (Biology) |
| 10/2014 | WATERLAND | MEDIAN KLINIKEN | GERMANY | Clinics / Hospitals |
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| 12/2010 | SAGA GROUP | NESTOR HEALTHCARE GROUP | UNITED KINGDOM | Outpatient Care |
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| 03/2010 | BRIDGEPOINT | CARE UK | UNITED KINGDOM | Nursing Homes |
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|---|---|---|---|---|
| 12/2023 | HG CAPITAL | VISMA GROUP | NORWAY | ERP, HR & Finance |
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REFERENCES
Valuation range: EV SEK 1–10bn
Revenue range: SEK 1–10bn
EV/Revenue range: below 1.5x
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: frösunda
Acquirer: hg capital