3i acquired Nordic Modular from Skanska in 2005.The company is a market leader in Scandinavia in manufacturing and letting modules to be used for temporary premises with a turnover of €61m in 2006. The company has approximately 220 staff and is divided in two business lines: Temporent which rents out temporary premises such as offices, schools and nurseries and Flexator which manufactures module buildings.
Lars Erik Blom, Director, 3i Nordic, said: “We have, together with management, reached the targets defined in the development plan that was created a year ago. For example, we have established a new management group that focuses on increasing the company’s sales and marketing activities. On the back of a strong market, the team has grown Temporent’s utilisation rate from 60% to 90% in a much shorter time than originally estimated, while Flexator has strongly improved its profitability.”
Per Johansson, Managing Director, Nordic Modular, comments: “During the past year, 3i has helped us take advantage of the positive market development and invest in the company’s future growth. Nordic Modular is now ready to take the next step in its growth and Kungsleden is an ideal new partner to support the company’s further expansion.”