Hoist AB, a Stockholm, Sweden-based company that delivers systems, products and services for hotels and commercial properties, has received an equity investment of undisclosed amount from Accent Equity.
Accent Equity 2008 is acquiring a 50% stake in the company. The founders, CEO Malcolm Lindblom and Christopher Upmark, will continue to run the company and retain the remaining 50% stake.
Hoist intends to use the funds to expand both organically and via acquisition.
Founded in 1994 and now established in Sweden, Norway, Denmark, Finland, the Baltic States, the UK, Poland and Russia, the company currently has 300 employees and a turnover of more than SEK 600m.
Hoist is active in two main business areas that deliver systems, products and services to the hotel industry (HHS) and for energy savings (EM). HHS provides business and reservations systems to the hotel industry, as well as interactive communications systems, TV entertainment, wireless Internet access and back-office systems. EM provides ventilation and control systems to the commercial property industry with the goal of reducing energy consumption, improving the indoor climate and contributing to a better environment.