Vaaka Partners to support Hultström Group’s growth in the Swedish built environment sector
Vaaka Partners acquires all business assets of the Stockholm First North listed consulting group Hultström Group.
Hultström Group is a leading independent consulting group in the Swedish built environment sector. The group comprises companies with complementary offerings ranging from strategic advice to project management and life-cycle services. With its 170+ employees and impressive client list ranging from real estate owners to public sector, Hultström Group continues to build on the decades long legacy of Hifab AB as an independent advisor in Sweden.
The overarching goal of Hultström Group is to drive transformation within the Swedish market. The group differentiates with its ability to serve its clients holistically from strategic advice to project execution and niche expertise. In accordance with its newly approved strategy, Hultström Group will continue to develop its existing strategic advisory and project management services but also welcomes new like-minded consultancies to the group.
The real estate and infrastructure sector faces increasing complexity and fresh opportunities and demands from global megatrends such as energy transformation, sustainability and digitalization as well as increasing regulation. That together with the expected strong activity in the Swedish real estate and infrastructure sector will drive the need for independent advice in the coming years. At the same time, it will become increasingly important for clients to be able to resort to advisors that can support them from strategic questions to project execution.
The transaction builds on Vaaka's prior experience in technical consulting, real estate and infrastructure sectors. Vaaka has worked extensively with ambitious and growth-oriented management teams and companies in related technical consulting areas such as AINS Group and Foreship, which together with Vaaka’s extensive buy-and-build experience, will be leveraged for the benefit of Hultström Group.
Amanda Tevell, the CEO of Hultström Group
"Our ambition is to be the best at helping our customers drive positive development in an industry that is transforming. This requires a group of companies with the right expertise and the ability to support customers in their change journey. With Vaaka, we get an owner that understands our type of business and that can contribute experience and resources as we take the next step."
Hultström Group has a strong employer profile with high overall employee engagement as evidenced by positive client feedback and employee satisfaction, which forms a strong foundation for future growth. Going forward, the target is to continue building the group towards the most inspiring workplace for existing and future employees as well as acquisition targets.
Tomas Therén, Partner at Vaaka
"We are excited about Hultström Group's vision and strategy to drive transformation in the Swedish built environment sector. By combining the company's vision, its highly regarded expertise, and Vaaka's prior understanding of the industry, we are convinced that we can help in creating unparalleled value to Hultström Group's customers. It is also inspiring to partner up with a management team with a vision and drive to transform the industry.”
The transaction is also a testimony to the strength of Vaaka's one-team model across the firm’s home markets with local Swedish team complemented with in-house sector expertise from Finland.
The transaction will be completed via the acquisition of all the outstanding shares of HifabGruppen AB, a subsidiary to the First North Stockholm -listed Hultstöm Group AB. In the transaction, all the business operations of Hultström Group along with the brand name will transfer to the acquiring entity. Following the acquisition, the acquired business will continue its operations under the Hultström Group name. The transaction is recommended by the board of directors of Hultström Group, and its completion is conditional to the approval of Hultström Group general meeting of shareholders. The owners together representing 58% of the shares and 66% of the votes in Hultström Group have committed to support the transaction.
Additional information
Amanda Tevell, CEO, Hultström Group
amanda.tevell@hultströmgroup.se, +46 722 34 70 68
Tomas Therén, Partner, Vaaka Partners
tomas.theren@vaakapartners.fi, +46 733 25 45 02
About Hultström Group AB (publ)
Hultström Group is a consultancy group focused on change and development within the built environment. Our ambition is to drive positive development in an industry that is transforming. By bringing together companies with complementary capabilities, we create a dynamic platform to meet our clients' growing demands within digitalisation, sustainability and innovation.
