FSN Capital and management have acquired four Swedish landscaping companies including ISS Landscaping
The new group, which consists of Mark- och Trädgårdsanläggare Sjunnesson, Jungs, Qbikum and ISS Landscaping has total revenues of approximately SEK550 m in 2009.
ISS Landscaping is the fourth company within landscaping services that FSN Capital acquires since April this year. The new group is now a clear market leader in Sweden for developing and maintaining outdoor green areas for municipalities, real estate companies, tenant owner associations and corporate customers.
Development and maintenance of green outdoor areas is a large and growing market in Sweden and internationally. The total market in Sweden is worth more than SEK10 billion and has grown by 10-15% annually, much driven by the strong urbanization trend. Taking care of and developing outdoor areas creates – apart from improved ‘quality of life’ for many – large economic values. Areas that are more attractive to live and work in attract more tenants and buyers and eventually tax payers. With modern techniques environmental sustainability can also be much improved.
’There are large opportunities for continued growth and to continue develop the concept and offering and I look forward to work with colleagues and FSN Capital to take this to the next step’ says CEO and co-investor in Landscape Services Kim Sjunnesson.
’We see opportunities for continued expansion, both in Sweden and internationally, through organic growth and acquisitions in a very fragmented market. We will also work to further enhance both quality and efficiency in operations’ says Dan Johnson, partner at FSN Capital. The creation of Landscaping Holding is FSN Capital III’s third investment. In previous funds, FSN Capital has made ten platform investments in the Nordic countries and twenty add-on acquisitions around the world.