Axel Johnson invests in Svea Solar09.02.2020
Through Axsol, Axel Johnson invests in Svea Solar, the market-leading B2C player in solar energy in the Swedish market.
Svea Solar was founded in 2013 by Erik Martinson and Björn Lind, before Nolan Gray joined in 2015. In 2018, the company had sales of 244 million, and in 2019 it nearly doubled its sales. Svea Solar has a unique position in the Swedish market, with a nationwide geographical presence and a leading position for solar energy systems in the consumer market.
In addition, the company has strong growth in large-scale commercial projects, as well as additional services such as electric car chargers, batteries, green electricity contracts, and smart monitoring of energy. The company also has framework agreements with about ten major real estate companies. Furthermore, in 2019 Svea Solar won DI's Supergasell award, and started operations in Spain.
This is Axel Johnson's third investment in the solar energy field since the summer of 2019. After the investment, Axsol's ownership in Svea Solar will constitute a significant minority position.
Stina Andersson, COO of Axel Johnson and responsible for the investments in solar energy:
“We want to invest on the behalf of Axel Johnson in the best Nordic solar companies, with ambitions and opportunities to grow even at European level. Svea Solar fits in well with that description. The company is showing impressive growth and has a very strong platform in its market leading position in the installation of solar panels for villas. In addition, the team has identified a number of interesting future growth tracks in infrastructure for charging electric cars, battery solutions, and solutions for electricity trading that enables storage, optimization and sales of households' produced solar energy. "
Erik Martinson, CEO Svea Solar:
“We are very pleased to welcome Axel Johnson as an owner. With a clear intrest to invest in long-term solar company construction, it's a perfect partner for our future growth journey. ”
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