Hager Group takes majority stake in Swedish panel builder Elektrofabriken

Hager Group with the Swedish subsidiary Hager Elektro AB, has signed a majority stake agreement in Elektrofabriken, a leading panel builder based in Malmö, Sweden

In doing so, the group strengthens its commitment in Sweden and further expands growth ambitions in Europe. The agreement between the two companies is subject to antitrust approval and is expected to be closed in Q1 of 2022.

“This investment is another step to expanding our customer centricity. It is a commitment in the strongly growing Nordics region, where our solutions are already successfully distributed in both the residential and commercial building segments,” comments Daniel Hager, CEO of Hager Group.

Elektrofabriken is one of the fastest-growing companies in its segment in Sweden. It markets and manufactures low and medium voltage products tailored for commercial and industrial applications. The family owned business was founded in 2007 by Marthin and Mathias Karlsson.

Leif Hallén, Managing Director of Hager Elektro AB and Zone Director Northern Europe at Hager Group, is also looking forward to this new acquisition. “I’m glad to welcome Elektrofabriken to Hager Group. With their ingenuity and best-in-class services in the smart electrification of commercial buildings, we can now offer fully integrated solutions for our customers that bring out the best of our products. I firmly believe that this agreement is a win-win situation for Elektrofabriken and Hager Group, as well as for our customers.”

Marthin Karlsson, currently Managing Director in Elektrofabriken, will continue in this role. Mathias, will also continue to support him as Production Manager. “Both Mathias and I are excited to be part of Hager Group to further accelerate our growth path, benefit from strong synergies and continue to develop our business, in both turnover and know-how,” comments Marthin Karlsson.