Celero Capital establishes Reledo, a platform within the facility management industry
Celero Capital has signed agreements with the owners of four firms – ICG Sverige AB, Ekebybruk Städ och Lokalservice AB, Bofint Städservice Sverige AB and Exiso AB – to establish Reledo with the ambition of becoming a leading player in the facilities management industry, providing tailored solutions to the SME segment. The entrepreneurs and management team will own approximately 15% of the new group.
By combining four highly successful companies, Reledo will already at inception have a solid position in the Swedish market and be able to provide customers with broad and tailored service offering for their facilities management needs. As of March 2023, Reledo had proforma sales of around SEK 230m and currently employs more than 400 employees.
The Facilities Management market – including cleaning and food & beverages – is a sizeable and fragmented market that over time has delivered solid growth with limited cyclicality, benefiting from a continued outsourcing trend.
The establishment of Reledo represents the first step for Celero Capital in consolidating the SME segment of the facilities management market in the Nordics. Celero is currently in dialogue with a number of high quality and customer-oriented companies and is looking forward to expanding Reledo further in the near future.
Peter Möller, Managing Partner at Celero Capital, commented: “We are proud to announce the launch of Reledo in partnership with ICG, Bofint, Ekeby and Exiso. The creation of Reledo builds on Celero’s experience both in terms of partnering with entrepreneurs as well as pursuing buy-and-build strategies. We now look forward to rapidly developing Reledo, by reaping the benefits of working together as a group and by acquiring complementary businesses across the facilities management market”
The CEOs of the four companies; Carlos Said, Karin Linden, Lucas Börjesson and Mikael Norden, jointly commented: “We are excited to become part of Reledo and are looking forward to developing the group together with Celero Capital. By working together, we will be even better positioned to deliver broader and flexible facilities management solutions to our customers. With a mission to create pleasant workplaces and simplify our customers´ everyday life”
Celero Capital was advised by Rene Partners, Hansen Advokatbyrå, Arkwright, Deloitte and Frank Partners.
About ICG, Ekeby, Bofint and Exiso
ICG Sverige AB is an award-winning facilities management company, offering a broad range of services including cleaning, coffee machines, water, reception services and more.
Ekebybruk Städ och Lokalservice AB specialises in cleaning services towards companies and housing associations in the Uppsala region.
Bofint Städservice Sverige AB offers cleaning of offices, retail stores and warehouses, with ancillary services including coffee machines, delivery of fruit baskets and janitor services in the Gothenburg region.
Exiso AB offers cleaning solutions to customers with special cleaning requirements such as grocery stores, schools and industrial facilities.
About Celero Capital
Established in 2022, Celero Capital is a Nordic lower mid-market private equity firm that is focused on the services, consumer goods and niche industrials sectors.
Celero Capital is looking to partner with owners and management teams who have a passion for developing their companies. Companies in constant development, grow sales, increase profitability and enhance competitiveness. At Celero Capital, we have a passion for accelerating that development. To achieve this, we implement our Celero Accelerator Modules (“CAMs”) throughout the investment journey. Our CAMs represent a key part of the hands-on support that we, together with our advisors, provide the founders and management teams that we partner with.