mynth
04/2019MajorityLBO

IK Partners takes majority stake in BST Group

SWEDEN Facility Management / Maintenance / Security & Guarding REV 1m NOK - 100m NOK

Context

Alongside the significant equity reinvestment executed by the existing founders and the management team, the IK Small Cap II Fund finalizes the acquisition of BST Brandskyddsteamet AB from Infrea AB. The execution of this definitive agreement orchestrates a formal transition of corporate control, concluding an investment cycle during which Infrea AB, directed by Chief Executive Officer Tony Andersson, oversaw a 50 percent increase in the sales volume of BST Brandskyddsteamet AB. By integrating BST Brandskyddsteamet AB into its portfolio, IK Investment Partners secures its third distinct platform investment within the specialized fire protection segment. The strategic rationale for this transaction capitalizes on explicit sector dynamics, specifically the continuous tightening of safety regulations, accelerating urbanization rates, and the heightened enforcement of building safety codes. This institutional capital injection is directly allocated to sustain the aggressive operational growth trajectory of BST Brandskyddsteamet AB. The transaction mechanics structurally mandate that the executive leadership team retains active shareholding positions to ensure absolute continuity in operational governance under the new financial sponsorship provided by IK Investment Partners. Completion of the share transfer agreement remains strictly conditional upon the receipt of mandatory approvals from the competent regulatory authorities.

The acquisition of BST Group is part of the growth strategy of IK Partners, which already has several external growth operations under its belt, notably Netco Group in 2019.

BST Group, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of [members only].

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Target

BST Group Nordic AB engineers, installs, and maintains advanced active fire protection systems across the Nordic region. Founded in 2012 by four industry veterans and headquartered in Stockholm, Sweden, the enterprise concentrates its operational activities on safeguarding critical societal functions and commercial infrastructure. Operating as a decentralized network of local entrepreneurs, the organization coordinates specialized technical consultancy alongside the physical deployment of complex fire suppression architectures. Beyond initial installation, the service provider executes continuous aftermarket maintenance and structural refurbishment services for existing life-safety networks. To manage this diverse portfolio of engineering mandates, the group directs a dedicated workforce of approximately 430 full-time employees distributed across its regional operating hubs. The corporate strategy systematically focuses on expanding its technical service niches to encompass sophisticated fire engineering solutions tailored to complex commercial environments. By maintaining this integrated operational framework, the Swedish company structures a reliable supply chain of active fire protection services capable of addressing stringent safety regulations and continuous maintenance requirements for property owners across its established geographical footprint.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (NOK)

Year
Rev
EBITDA
EBIT
2019
NOK 1–100M
[members only]
[members only]
2018
NOK 1–100M
[members only]
[members only]

Other operations with BST Group

Other operations with BST Group
DateAcquirerTargetCountrySector
11/2021NORVESTORBST GROUPSWEDENSecurity & Guarding

Other operations with IK Partners

Other operations with IK Partners
DateAcquirerTargetCountrySector
01/2020IK PARTNERSGROUPE EDHFRANCEEducation Providers
12/2019IK PARTNERSMDT TECHNOLOGIESGERMANYElectrical Equipment
01/2019IK PARTNERSNETCO GROUPFRANCEMaintenance
11/2018IK PARTNERSQUANOSGERMANYIndustry-Specific Software
05/2018IK PARTNERSDOMIA GROUPFRANCEEducation
05/2018IK PARTNERSMADEMOISELLE DESSERTSFRANCEBakery / Pastry
02/2018IK PARTNERSQUESTEL GROUPFRANCEIndustry-Specific Software
10/2017IK PARTNERSLINXIS GROUPFRANCEFood & Beverage Lines
06/2016IK PARTNERS / FIVE ARROWSIADFRANCEE-commerce & Marketplaces
05/2016IK PARTNERSMARLE GROUPFRANCEImplants & Prosthetics

Similar deals in Facility Management

Similar deals in Facility Management
DateAcquirerTargetCountrySector
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01/2019PREMIER TECHNICAL SERVICES GROUP (PTSG)TRINITY FIRE & SECURITY SYSTEMSUNITED KINGDOMSecurity & Guarding
01/2019IK PARTNERSNETCO GROUPFRANCEMaintenance
05/2018SOHO SQUARE CAPITALALPINE FIRE ENGINEERSUNITED KINGDOMSecurity & Guarding
11/2017K-BRO LINENFISHERSUNITED KINGDOMIndustrial Cleaning
05/2017L SQUARED CAPITAL PARTNERS / LONGVIEW ASSET MANAGEMENTELEVATED FACILITY SERVICESUNITED STATESMaintenance
04/2017AMPLEXORSAJANUNITED STATESDocument Management
04/2017DAVIESCYNERGIE UKUNITED KINGDOMBPO & Outsourcing
06/2016DENTRESSANGLETESSIFRANCEDocument Management

REFERENCES

Revenue range: REV 1m NOK - 100m NOK

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of BST Group by IK Partners are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: bst group

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in BST Group, a Swedish company specialised in Maintenance, by IK Partners in 2019, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Norvestor in November 2021 (see the dedicated deal page for details).

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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