In December 2009, the fund Accent Equity 2008 acquired Bergteamet together with the company’s founder and management.

Bergteamet is the leading Nordic subcontractor of underground excavation services, mainly to the mining industry, and one of the largest providers of Raiseboring services in the world. Bergteamet has five complementary divisions that together form a one-stop-shop for underground excavation solutions: Mining & Tunneling, Raiseboring, Diamond Core Drilling, Electro and MEC.

Bergteamet is mainly active in the Swedish market and has in addition completed projects in more than 40 countries worldwide. The company has built up strong competence as well as an impressive machine fleet that together with a cost efficient modus operandi form an excellent platform for further expansion.

At the time of the Accent fund’s investment, Bergteamet had a turnover of SEK 867 million.

As the new majority owner, the Accent fund implemented a number of key initiatives to enhance Bergteamet’s strategic position:

  • Created organisational infrastructure
  • Broadened key management
  • Acquired Contector, thereby creating the new Electro division and strengthened the MEC division
  • Focused on expansion by winning new customers

During the Accent fund’s ownership period the company experienced steep and profitable growth. At the time of the Accent fund’s exit, the company had increased its turnover to close to SEK 1.5 billion and its EBITDA by close to 30%.

In October 2011, the Accent fund divested part of Bergteamet to Polaris, a Danish private equity fund. The Accent fund reinvested alongside Polaris and co-owns the company on equal terms, with management also owning a substantial share. The transaction resulted in attractive returns on the Accent fund’s initial investment, as well as interesting future potential together with Polaris and management.


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