Altor acquires Transcom shares for 400 million – Swedish newspaper Svenska Dagbladet

The heavy purchase includes 6.4 million shares in the customer service company, representing 24.5 percent of the issued Transcom shares. The price was SEK 66 per share, totaling SEK 421 million.

– We have looked at Transcom for almost ten years and now came a time when we thought it was interesting to go into. We have followed it closely and have seen what they have done. They have done a good “turnaround” but we still see that there is more to do, says Altor Communications Krusell to SvD Business.

Altor usually buy unlisted companies to later take them to the stock market, but Krusell explains that previously made similar investments in listed Norwegian companies.

– What makes Altor bit different than the other similar venture capital funds in Sweden is that we have a mandate to do it This type of investment in two of our funds. This is actually the third investment from Altor that are of this type.

Whether the idea is to eventually become sole owner and delist Transcom is too early to say.

– We exclude nothing , however. But if you look at what we’ve done so far, we have been just below 30 percent in the two other holdings. We may go in and look at Transcom and see what we think is right for the company. But it’s still a bit early to pinpoint exactly, says Krusell.

Kinnevik Communications Torun Litzén said the sale is part of its new focus on consumer services in the digital sector.

– Transcom is a little outside the focus. It is a “business to business” company, and when we think it’s good to sell on to a strong principal owner, while we remain as the company’s third largest shareholder. It is also part of the strategy that we want to focus on a smaller number of companies, says Litzén SvD Business.

After the transaction, Kinnevik’s shareholding in Transcom amounting to 1.9 million shares, corresponding to 7.4 percentage of ownership.

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