PARTNERTECH KARLSKOGA AKTIEBOLAG acquired by FJORD DEFENCE GROUP
Context
Fjord Defence Group ASA has entered into a definitive agreement to acquire 100% of the share capital of PartnerTech Karlskoga Aktiebolag, a specialized industrial player in precision metal components for the defense industry. This transaction is part of a broader strategy to build an integrated European defense platform, combining critical component manufacturing and expanding the acquirer's industrial value chain. The deal structure involves a mixed payment mechanism, comprising a cash component and a stock component, supplemented by a performance-based incentive scheme for certain key executives of the target company. This approach aligns the interests of the seller, management, and acquirer, while ensuring operational continuity and stability of the existing teams. A lock-up mechanism also governs the holding of shares issued as part of the transaction, with gradual release over time. The strategic rationale is based on the complementary nature of the activities between the two entities. PartnerTech brings recognized expertise in high-precision metal components, particularly for weapon systems and large-caliber ammunition, while Fjord Defence Group has a portfolio covering a broader range of defense equipment, including weapon accessories, protection solutions, and light platforms. The integration of the two companies will enhance the industrial depth of the platform and increase its exposure to European defense programs.
PARTNERTECH KARLSKOGA AKTIEBOLAG, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (10.9x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
PartnerTech Karlskoga AB is a Swedish industrial company specializing in the manufacture of high-precision metal components for the defense sector. With roots in Karlskoga's historic industrial environment, which has long been associated with the production of military equipment and defense systems, the company has evolved into a strategic integrated supplier within the supply chains of major European defense contractors. Its business focuses on the design and production of complex mechanical parts using advanced materials such as titanium, aluminum, and copper, which are used in weapon systems, large-caliber ammunition, and various military equipment. PartnerTech's positioning is characterized by a high degree of industrial specialization, stringent precision requirements, and the ability to meet highly demanding technical specifications. The company maintains long-term relationships with its key industrial clients, often as a critical supplier within defense programs. This deep integration into its partners' production chains contributes to its commercial stability and operational visibility. The company's activity is primarily geared towards the defense sector, which accounts for virtually all of its sectoral exposure.
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Historical Financials (SEK)
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REFERENCES
Valuation range: EV 500M - 1.5b SEK
Revenue range: 450M - 900M SEK
EBITDA range: 100M - 200M SEK
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: partnertech karlskoga aktiebolag
Acquirer: fjord defence group