Amplio Private Equity, through the fund Segulah V, has entered into an agreement to sell its interest in Francks Kylindustri to the IK X Fund, a fund managed by IK Partners (“IK”), a leading European private equity firm.
Founded in 1950 and headquartered in Sweden, Francks is a leading Nordic specialist provider of installation and aftermarket services within commercial and industrial refrigeration systems. With 75+ years of experience, Francks has established itself as a trusted partner to a broad and diversified blue-chip customer base of more than 1,000 customers who rely on Francks for complex and business critical refrigeration and cooling systems. The company has over 650 employees who work across 50 sites in Sweden, Norway, Denmark and Finland.
Segulah V acquired a majority stake in 2019 and has since transformed Francks from a regional Swedish business into a Nordic market leader, following successful entries into Norway, Denmark and Finland. During this time, Francks has delivered strong and profitable growth, driven by value-creating organic initiatives and multiple strategic add-on acquisitions.
“We are excited to embark on this next phase of growth as we look to further strengthen our position in the Nordics and beyond. We are very thankful for the support we have received from the Amplio team who has enabled the successful growth over the past six years and look forward to now continuing our growth journey together with IK Partners”, says Sören Jensen, Group CEO, Francks.
“Francks delivers business-critical services in a structurally growing market – making it an excellent strategic fit with Amplio’s investment strategy. A combination of strong and profitable organic growth, 31 add-on acquisitions and 8 greenfield establishments across the Nordics have resulted in more than 4x revenue growth and 5x profitability growth since the acquisition in 2019, making Francks a highly successful investment for Segulah V. We are convinced about the continued success for Francks and wish IK and Sören with team all the very best in their future partnership”, says Marcus Planting-Bergloo, Managing Partner, Amplio Private Equity.
For further information, please visit www.amplio.se or contact:
Marcus Planting-Bergloo, Managing Partner, Amplio, +46 702 29 11 85, planting@amplio.se
Jacob Andersson, Investment Manager, Amplio Private Equity, +46 70 497 84 03, andersson@amplio.se
Established in 2024 by the former Segulah team, Amplio is a Swedish private equity firm specialising in the Nordic lower mid-market with a strong track record and long experience of developing companies in close cooperation with skilled entrepreneurs, business leaders and industrial experts. Amplio has a distinct sector focus on Business Services and IT & Technology Services, combined with strong buy-and-build focus. To ensure long term structural growth we invest, with sustainability in focus, into markets fuelled by three major themes: ‘Sustainable Solutions’, ‘Digital Business Efficiency’ and ‘Smart Urbanisation’.
