INVESTMENT Case
Motum
Motum is a leading provider of modernisation, new installation and service of elevators and automatic doors in Sweden and Norway. The company offers flexible and high-quality solutions for all types of elevators. Motum has unique capabilities within elevator modernisation, which significantly reduces the climate impact compared with replacement.
During Accent Equity's ownership, Motum has consolidated the Swedish elevator service and installation market and entered into Norway, becoming the largest independent provider of elevator services in Sweden. Revenue and EBITDA increased by 3.3x and 2.7x, respectively.
During Accent Equity's ownership, Motum has consolidated the Swedish elevator service and installation market and entered into Norway, becoming the largest independent provider of elevator services in Sweden. Revenue and EBITDA increased by 3.3x and 2.7x, respectively.
Industry:
Modernisation, installation and service of elevators
Type of investment:
Succession capital
Investment theme:
Accelerated growth, operational enhancement
Entry/exit:
2013/2022
Motum was formed in 2013 when Accent Equity led the merger of two elevator companies in Sweden. During Accent Equity's ownership, Motum consolidated the Swedish elevator service and installation market and entered into Norway, becoming the largest independent provider of elevator services in Sweden.
Over the course of close to a decade, Motum was developed into a fully integrated provider of elevator service, with a common group governance structure. The local companies maintained their local roots and customer relationships, while benefiting from groupwide IT- and support systems, processes, and the joint Motum brand.
Over the course of close to a decade, Motum was developed into a fully integrated provider of elevator service, with a common group governance structure. The local companies maintained their local roots and customer relationships, while benefiting from groupwide IT- and support systems, processes, and the joint Motum brand.
Key initiatives and results during Accent Equity's ownership
- Creation of the largest independent provider of elevator services in Sweden and a clear leader in sustainable modernisation
- Sustainability was put on the agenda of the Swedish elevator market
- Completion of a large number of acquisitions, consolidating the Swedish elevator market
- Establishment of a group management team and an integrated governance structure for the group, supported by joint IT-systems and common processes
- Entry into previously underserved markets in Sweden as well as into Norway
- Increase of earnings by close to 3 times
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Together with our owners and board, we have led a consolidation of the Swedish elevator industry, put sustainability on the agenda through our strong modernisation offering, and created an integrated player in the Nordic elevator landscape which still retains its local business relations and entrepreneurship.
Exit rationale and process
Having achieved accelerated organic growth and increased margins in the past two years, an exit process was initiated in 2022. The company generated strong interest from both financial and industrial buyers, but Mitsubishi Electric Corporation was ultimately seen as an excellent long-term owner for the company.
Motum will continue to serve as a platform for future European growth under the ownership of Mitsubishi Electric Corporation. The exit process was finalised in May 2022.
Having achieved accelerated organic growth and increased margins in the past two years, an exit process was initiated in 2022. The company generated strong interest from both financial and industrial buyers, but Mitsubishi Electric Corporation was ultimately seen as an excellent long-term owner for the company.
Motum will continue to serve as a platform for future European growth under the ownership of Mitsubishi Electric Corporation. The exit process was finalised in May 2022.
Investments
This is Accent Equity