Sweden – Storskogen acquires Cuben Utbildning
18 November 2021
The Swedish asset management company Storskogen has entered into an agreement to acquire Cuben Utbildning via Storskogen’s subsidiary Strigo.
Financial details were not disclosed. Storskogen expects to complete the acquisition by the end of the fourth quarter of 2021.
Cuben is a Swedish provider of adult and vocational education in Gothenburg and Stockholm.
The agency also offers Swedish for immigrants as well as adult and vocational education. The company also provides labor market training and matching services.
Cuben is an additional acquisition of Strigo, a competence group with a focus on adult development. Strigo consists of companies in adult education, labor market education, company education, staffing and matching services under three brands, Omsorgslyftet Utbildningar, MoA Lärcentrum and Veldi och Veldi Kompetens.
Cuben reported sales of SEK 101 million (EUR 10.0 million) and EBITA of SEK 14 million (EUR 1.4 million) in 2020. Cuben was founded in 2010 by Sanna Ahrens and Marie Medström, who will continue to run the company for a transitional period. period.
The acquisition of Cuben complements and broadens Strigo’s range in adult education and SFI (Swedish for immigrants) and contributes to a strengthened geographical position in Gothenburg and Stockholm, Storskogen added.
The two companies will operate under separate brands, but there are several opportunities for cooperation between the companies to further strengthen each business, according to Jens Porsgaard, CEO of Strigo.
Porsgaard said: “Cuben Utbildning is well known to us as an education provider for adults with a focus on high quality and flexibility in its operations. We are happy that Cuben wants to be part of Strigo where we will strive to match each other and take the next step together, which will strengthen our position as a leading provider of adult education in Gothenburg and Stockholm. of Storskogen’s business area Services and the vertical HR and Competence for which Lina Falk Jimenez, Senior Investment Manager at Storskogen, is responsible.
Storskogen acquires and manages well-managed and profitable small and medium-sized companies in the business areas Industry, Trade and Services in the Nordic countries, DACH and the United Kingdom.