Pressmeddelande -
Crem International continues its expansion with Welbilt as new owner
Priveq Investment Fund IV L.P. has together with the other owners of Crem International entered into an agreement to divest Crem International to Welbilt, Inc., a leading global provider of foodservice equipment listed on NYSE.
Crem International is a global company of recognized prestige in the production of professional coffee machines, adding more than 50 years of experience in the market and sales into more than 80 countries. Crem International develops, manufactures and markets coffee machines under three strong brands - Coffee Queen, Expobar and Spengler.
In 2012, Priveq invested as a majority owner in Crem International alongside with SEB Venture Capital, the founders Georg Möller and the Olaso family, and the management in Crem International led by the CEO Sebastian Lindström. Crem International has for the duration of Priveq's ownership grown to a leading player in the market for professional coffee machines in all important segments.
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About Priveq Investment
For 35 years, Priveq Investment has invested in profitable growth companies. The business concept is to generate value through long-term investments and active ownership in unlisted growth companies. Since 1983, approximately SEK 3,5 billion has been invested and Priveq Investment and its employees have carried out 122 investments and been involved in taking 25 companies to an IPO. The current portfolio consists of 16 companies which has a total revenue of approximately SEK 6 billion and 2,300 employees. Some of the current portfolio companies are 21 Grams, Danfo, Ports Group, QleanAir Scandinavia and Visual Art. Behind Priveq Investment is essentially a number of long-term, institutional pension funds in the Nordics and Europe, for example Skandia Liv, Fjärde AP-fonden, Kommunal Landspensjonskasse (KLP) and Europeiska Investeringsfonden (EIF). Priveq Advisory AB acts as investment advisor to the Priveq Funds.
More information is available at www.priveq.se.
