The sale of Max Matthiessen to Willis Group Holdings plc
Willis new majority owner in Max Matthiessen
TUE, MAY 27, 2014 09:05 CET
Willis Group Holdings acquires a majority of the shares in Max Matthiessen and becomes new principal owner of the company.
After the acquisition, Max Matthiessen goes from being a Swedish company with 23 offices and 400 employees to being part of a global network of 400 offices and 18 000 employees.
– Willis will become a perfect new majority owner, Christoffer Folkebo CEO of Max Matthiessen comments. Our customer will now get access to a broader product portfolio, which is positive. Willis will also contribute with important experience and knowledge from a global network.
Altor Fund III bought Max Matthiessen in 2009. Willis will after the deal hold 75 % of the shares while employees, still control the remaining 25 %. Under the terms of the agreement, Willis will invest 1 357 MSEK for 75 % of the shares in Max Matthiessen.
– It has been a privilege working with Max Matthiessen. The company now enters a new phase were they will strengthen their competitiveness further by becoming a part of a leading international actor, Claes Ekström partner at Altor Equity Partners and Chairman of the Board of Max Matthiessen, agrees.
– Altor acquired the company while the financial crisis was at its worst. Ever since then the company has become much stronger in all aspects and they have made an amazing journey, Claes Ekström continues.
The merger is subject to customary regulatory requirements and approvals.
Link to press release: