Corvara Industri & Skadeservice, a Norrköping, Sweden provider of industrial cleaning and damage control services – has been acquired by Accent Equity from ISS.
With the transaction, whose completion is still conditional on the approval of the Swedish competition authorities, Accent is acquiring 70% of the shares in the company while the remaining 30% stake continues to be held by the management.
The investment will enable Corvara to further consolidate in Sweden and expand in the Nordic region.
The company is active in the two following market segments:
– industrial cleaning for customers in the paper industry, the energy sector and the petrochemical industry;
– damage control services mainly of fire and water damage for property owners and insurance companies under the Totalsanering brand.
Led by part-owners Åke Söderberg (Managing Director), and Kenneth Hedberg, (production manager), Corvara is today represented via 27 district offices across Sweden. It has an annual turnover of about SEK 475m and 550 employees.