Crendo AG announces strategic alliance with SSG AG

Next Wave Partner’s portfolio company, Crendo, the Halmstad headquartered facilities management company, is pleased to announce the commencement of a strategic alliance with leading Scandinavian damage restoration and property services company, SSG AG.

Malmo, Sweden Crendo 27th February 2015

SSG has made a significant minority investment into Crendo, which will become SSG’s platform to build significant presence in the damage control market in Southern Sweden. SSG is a portfolio company of Odin Equity Partners, a Danish private equity firm.

SSG CEO, Sonny Neilsen commented “Crendo is a quality business with a strong reputation in property services. Our strategic alliance with Crendo will form a key platform to expand our damage control services into Southern Sweden. There are many opportunities for us to work together and continue to grow both businesses”

Crendo’s CEO, Alf Sandberg commented “We look forward to working with SSG and view the strategic alliance as a major development for Crendo.”

Stephen Walls, of Next Wave Partners LLP, commented “Having first invested in 2007 the business has been transformed and we are delighted to be partnering with SSG to take the business into its next phase of growth”

SSG’s CEO, Sonny Nielsen will join Crendo’s board of directors as Chairman.

 

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