23rd December, 2019
On December the 21st, Reiten & Co Capital Partners VI L.P. and the other shareholders in Malthus Uniteam reached an agreement to sell the company to Algeco Group. This transaction represents a good industrial solution for Malthus Uniteam, its employees, customers and suppliers. As the leading Norwegian player in the modular market, Malthus Uniteam is well positioned for further growth through joining forces with the European leader, Algeco.
During the fund ownership period, Malthus Uniteam has achieved strong growth and increased their presence in Sweden and internationally. The company has a strong track record of supplying modular buildings, barracks, containers and building equipment and delivers solid growth within the rental business and good profitability.
“The shareholders are very pleased to hand over Malthus Uniteam to Algeco as a new owner of the company. We have a history of 45 years in the Nordic market and clearly customers and employees will benefit from joining forces with Algeco and continue to build a market leading position in the Nordics”, says Bård Brath Ingerø, Chairman of Malthus Uniteam.
Steinar Aasland, CEO of Malthus Uniteam further adds that, “We are excited to join the Algeco Group and become part of the leading modular space provider in Europe. Malthus Uniteam has successfully established itself as the market leader in Norway and we look forward to being able to offer Algeco’s VAPS 360 service offering to our customers, as well as further strengthening our presence across the Nordics.”
The transaction is subject to review by the Norwegian competition authority.
Link to Malthus Uniteam press release: https://malthusuniteam.com/blog/2019/12/23/malthus-uniteam-far-nye-eiere-styrker-satsingen-i-norden/
You may also see Algeco’s press release: https://www.algeco.com/investors/news/2019-12-23.html