Scandinavian Track Group AB (STG), a Borlänge, Sweden-based provider of services within the so-called BEST segment (track (Bana), electricity, signal and telecom) in Sweden, Norway and Denmark, has received a majority equity investment of undisclosed amount from Polaris Private Equity.
The sellers include management and employees of STG. Following the close of the transaction, which will take place during October, current CEO Tomas Sjöblom will continue as CEO and, together with four managers, will remain co-owner of the company.
The investment will support STG in growing both organically as well as through acquisitions.
Scandinavian Track Group, which consists of eight subsidiaries all operating independently, is a leading subcontractor within service and maintenance of the Swedish rail network. The company has revenues of approximately SEK170m and around 120 employees.