Swedish Eveco has sold a majority stake to family-owned industrial group Ernströmgruppen

Stockholm – CFI is pleased to announce that it acted as as project manager and financial advisor to the owners of Eveco in connection with its sale of a majority stake to Ernströmgruppen.

Eveco was founded in 1979 and is today one of Sweden’s leading distributors of, among other things, fan convectors, fan heaters, and air curtains with associated control technology to ensure a good indoor climate. The company offers customized solutions for the best possible indoor climate and contributes with expertise throughout the whole process. Eveco’s products are installed in commercial facilities and contribute to more energy-efficient solutions, where water-based heating and cooling are a viable alternative.

Ernströmgruppen is a family-owned industrial group based in Gothenburg that invests long-term in entrepreneur-driven companies. The business area Flow Technology consist of companies in Sweden, Denmark, Norway, and Finland, and is an integral part of Ernströmgruppen. The group develops, markets, and sells functional solutions and products in the areas of heating, cooling, industrial processes, and energy, with sales primarily to the industrial sector, directly to pipe contractors, as well as through wholesalers in the Nordic region.

This transaction closed on 17 November 2023.

Related

• https://www.ernstromgruppen.com/en/news/single/?slug=ernstromgruppens-flow-technology-acquires-eveco