Livingstone has acted as the exclusive financial advisor to the owners of Conjet AB (”Conjet”) on the sale to J2L Holding AB (“J2L”). The transaction marks the next phase for Conjet, backed by the stability of J2L as a long-term owner, supporting the Company’s continued development.
Conjet develops and manufactures robotic systems for automated concrete removal and is today a leading international provider of hydrodemolition solutions for infrastructure, industrial applications, and advanced concrete repair.
Conjet, with roots in Atlas Copco’s development work in the early 1980s, was the first company in Sweden to industrialize and automate hydrodemolition. Since then, the company has built a strong international position through technical expertise, extensive experience, and robust robotic systems designed for long service life in demanding environments.
Since 2019, under the ownership of Gulfstream Nordic Holdings AB (“GNH”), Conjet has further strengthened its international presence through partnerships with new strong regional players and continued investments in its organization, operations, and product offering, creating a strong foundation for future growth.
J2L is a family-owned investment company with extensive experience in the long-term development of Swedish industrial and technology companies.
“I am pleased that Conjet is becoming part of the J2L group, with the long-term perspective and stability they offer as an owner. Together, we see strong opportunities to continue developing Conjet and creating value for our customers, partners, and employees,” says Anders Söderberg, CEO of Conjet.
“Through its technical expertise and long experience, Conjet has built a strong international position within robotic hydrodemolition. We are very pleased to become new owners and look forward to continuing to develop Conjet together with the company’s management and employees,” comments Johan Lindh, CEO of J2L Holding.
“Conjet has developed strongly in recent years, both operationally and commercially. We believe the company is now well positioned for its next phase together with J2L as a long-term industrial owner,” says Peter Ankerst, GNH.
“We’re grateful for Conjet’s trust throughout this process and thankful to GNH and Conjet’s management team for a rewarding collaboration. Livingstone sees continued strong interest in our industrial practice with global strategic buyers and financial sponsors alike looking for niche specialists such as Conjet,” says Jonathan Krook, Associate at Livingstone.
Conjet will continue to operate as an independent company with its current organization, brand, operations and customer relationships.
Livingstone’s team hereby completes another transaction in the industrial sector, following the sale of HeatUp to Elydan Group, the sale of Broddson to Duroc, and the sale of SKAB-Gruppen to Pamica.
