The owners of Swedish-based Scancon Group chose BCMS Corporate’s Scandinavian office to handle their company’s sale. BCMS employee Bars Berglund managed the project, assisted by his colleague Göran Porse. Due to the complexity of the Scancon Group and the impact of the present world financial situation on some potential buyers, the process time was more prolonged than usual. From being awarded the sales mandate to completion took close to 24 months; nevertheless, the completion of this deal and many others over the last three months confirms that buyers are active and that good companies, when taken to market via the comprehensive and highly effective BCMS Corporate process, are still very attractive. In fact, as is normal for a BCMS Corporate assisted sale, the final sale price achieved for Scancon was more than double the first bid received. Ultimately, the Finnish Empower Group, with 3000 employees, acquired all shares in Scancon Group, with three companies and 250 employees.
“We wanted to strengthen Scancon’s position in Sweden, Finland, and Norway. The now contracted merger into Empower Group was regarded as the best option to implement this growth strategy. By this change, we also extend Scancon’s expertise to services for pulp and paper industry segments”, said Bengt Öhrblad and Gunnar Spolander, the main shareholders of Scancon Group.
Empower has also enthusiastically expressed its full satisfaction with BCMS Corporate’s work. “Empower’s aim is to build a strong foothold in the Nordic Countries and the Baltic Sea region in the energy, telecom, and industry sectors. The acquisition of Scancon is a logical step in our expansion strategy. The acquisition will provide us with a solid growth platform for expanding our services in the industry sector. The Scancon acquisition will complement our existing competence in Finland”, says Aappo Kontu, the president of Empower Group.
About Scancon Group
The Scancon Group is a leading supplier of mechanical services, installations, maintenance and manufacturing work. Scancon services the manufacturing, petrochemical, steel and mining, cement and lime, and paper industry. Based in Sweden, Scancon provides work for heavy industry throughout Scandinavia. For more information, visit www.scancon.se/indexUK.htm.
About Empower Group
With history dating back to 1988, The Empower Group is a multinational service group delivering construction, maintenance and professional services within the energy, telecom and industry sectors. Official establishment occurred in 1999, founding various subsidiaries in multiple business areas. Empower operates in Finland, Sweden, Estonia, Latvia, and Lithuania. For more information, visit www.empower.fi.