News

Accent Equity divests San Sac Group to Sulo

Stockholm, 9 January 2020

  • Accent Equity 2012 and minority shareholders have divested San Sac Group to the waste management equipment group Sulo. As part of Sulo, San Sac Group will now be in a stronger position to continue its development and to provide its customers with an improved product offering
  • Since Accent Equity became the majority shareholder of San Sac Group in late 2014, multiple acquisitions have expanded the group’s geographical presence and product offering. The acquisitions combined with strong organic and synergetic growth have during Accent Equity’s ownership increased revenues by 4.9 times and EBITDA by 5.3 times
  • Today San Sac Group is the market leading provider of products and service for sorting, containment and compaction of waste in Scandinavia, and a world leading manufacturer of waste compaction machines

The investment fund Accent Equity 2012 L.P. (“Accent Equity”) and minority shareholders have divested 100% of the shares in San Sac Group to Sulo SAS (former Plastic Omnium Environnement, “Sulo”), a manufacturer and distributor of products and services around containerization of waste, active mainly in France and the rest of Western Europe. As part of Sulo, San Sac Group will now be in a stronger position to continue its development and to provide its customers with an improved product offering. Sulo is backed by Latour Capital, a French private equity investor, and Bpifrance, the French national investment bank.

San Sac Group was founded in 2014 and is today the market leading provider of products and service for sorting, containment and compaction of waste in Scandinavia, and a world leading manufacturer of waste compaction machines, with a turnover of approximately SEK 1,800 million. With a comprehensive product offering and an expertise for developing high performance waste handling systems, the group has developed a strong value proposition that enables efficient waste handling solutions for its customers. Through multiple acquisitions, the company has continuously expanded its geographical presence and product offering, covering externally sourced, in-house designed as well as in-house manufactured products. The group, headquartered in Linköping, Sweden, employs approximately 510 people and operates though own subsidiaries in Sweden, Norway, Denmark, France, UK, Russia, Poland, Japan, and USA, and also through distributors in some additional 30 countries. As a result of the acquisitions, underpinned by strong organic and synergetic growth, revenues have during Accent Equity’s ownership since 2014 increased by 4.9 times and EBITDA by 5.3 times.

“Thanks to Accent Equity we have been able to transform from a small local supplier to becoming the clear waste management solutions market leader in Scandinavia and the world leading supplier of compaction machines for waste. I now look forward to the next stage of the company’s journey and becoming a part of Sulo to further deliver on our motto – turning waste into value,” says Fredrik Jaginder, CEO of San Sac Group.

“Since San Sac Group was formed in 2014, Accent Equity and the management team have successfully built a resilient and multinational business focused on recycling and sustainability. We are much impressed by the group’s development and strong growth, both organically and through acquisitions, and believe management has created an excellent platform for continued expansion. We are very happy that San Sac Group now will be part of a strong industrial group and are pleased that Accent Equity can continue the journey as reinvesting co-owner in Sulo”, says Carl Fürstenbach, Partner at Accent Equity Partners AB, advisor to Accent Equity.

Livingstone Partners (M&A), Mannheimer Swartling (legal) and PwC (vendor assistance) assisted Accent Equity in connection with the transaction.

For additional information, please contact:
Carl Fürstenbach, Partner at Accent Equity Partners AB, +46 70 322 98 99
Fredrik Jaginder, CEO of San Sac Group, +46 13 14 30 74

About Accent Equity:
Founded in 1994, Accent Equity is one of the buy-out investment pioneers in the Nordic region. Since then, Accent Equity funds have invested in 88 companies, of which 70 investments have been realised. Accent Equity’s ambition is to develop the portfolio companies to be Nordic, European or Global leaders through sustainable improvements of their operations as well as by their strategic positioning. Accent Equity Partners is the investment advisor to all Accent Equity funds. www.accentequity.se

2020 Accent Equity 2012