Livingstone advises ELIAS Syd in the sale to SELATEK

Livingstone has acted as the exclusive financial advisor to the founders and owners of ELIAS Syd in the sale to SELATEK AB, a portfolio company of the private equity firm Segulah. The transaction strengthens SELATEK’s position in southern Sweden through ELIAS Syd’s unique expertise, experience, and strong customer relationships, particularly in the automotive, pulp, and paper industries, and the Swedish Armed Forces.

ELIAS Syd is a leading B2B electrical engineering service provider in southern Sweden, with a strong presence in Blekinge. The company has been operating since 2005 and has established a strong reputation in the market through its unique experience and technical expertise in areas such as ship installations, high-voltage systems, building automation, and AC/DC installations. The company’s turnover was SEK 101 million (EUR 8.5 million) last year, and it currently employs 76 FTEs.

SELATEK, whose largest shareholder is Segulah Fund VI, is a technology supplier in the security, electrical installation, and automation sector. Their strategy is based on the continued development of strong local companies with unique brands, supported by the group and its subsidiaries. Growth is achieved in strategic geographical areas through acquisitions and organic growth.

”When the Eliasson family decided to transfer ownership responsibility of ELIAS Syd to a worthy player in our industry, we contacted Livingstone based on recommendations from a business acquaintance. From our first meeting with the team, we had great confidence, and we must say that it has been an excellent collaboration where we, as sellers, have felt secure throughout the process and received well-balanced advice. Their experience, knowledge, and availability have been incredibly valuable to us. We highly recommend Livingstone,” says Ingmar Eliasson, founder and majority owner of ELIAS Syd.

“In ELIAS Syd, SELATEK acquires a well-established electrical engineering company with strong relationships with some of the largest industries in southern Sweden. Additionally, the company has had a well-functioning external management since 2021, making the integration into SELATEK a smooth process. As part of the group, the company can now tackle even larger and more complex projects and develop collaborations with other companies in the group,” says Tomas Lind, Director at Livingstone.

With this transaction, Livingstone’s team completes another transaction within the Business Services sector, following the sale of Linotol to Accent Equity, the sale of LL’s Kylteknik to Nordic Climate Group, and the sale of Malmberg Miljöhantering to Norva24.

Glimstedt Advokatbyrå provided legal advice to ELIAS Syd in the sales process.