KC Betong

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KC Betong

HOW WE SUCCESSFULFULLY SOLD OUR COMPANY

Interview with Alf Rytter and Jack Gustavsson, responsible for selling KC Betong

On January 31st, 2008 Finja AB’s purchase of 100% of the stock in KC Betong AB and related companies was finalized. KC Betong has revenues of about 200 million SEK and approx. 150 employees. Excore, who acted as broker and advisor in the deal, took care of the whole process from idea to the surrender of the company.

Background:

Katrineholms Cementgjuteri AB (later KC Betong AB) was founded in the early 1900s.

In 1985, Jack Gustavsson took over the company after his father and shortly thereafter company CEO, Alf Rytter, was offered a partnership. In April 2007, the owners contracted Excore as advisor and broker for a sale.

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In 1985, Jack Gustavsson took over the company after his father and shortly thereafter company CEO Alf Rytter was offered a partnership. In April 2007, the owners contracted Excore as advisor and broker for a sale.

Why did you decide to sell the company?

“We had reached an age when it was time to plan for a change of generation. And some time ago we had made a verbal agreement to the effect that at some point, when the time felt right, we would sell the company.” – AR

“My son, Peter Gustavsson, who works as Quality Assurance Manager in the company, did not want to take over. So we decided instead to sell it externally. Peter is still working for the company as a key employee in future operations.” – JG

How do you view Finja as a buyer?

“When we first started the process, we didn’t know who would be interested. At some point Excore presented those who had shown an interest. After meeting with Finja, they felt like a clear favourite from the word go. We felt very pleased they were the company who bought the company in the end.” -JG

How was the news about Finja buying you received in the organization?

“Completely positively. We had informed the organization and followed the plan we had developed with Finja. Our staff were very pleased with the idea of Finja as a buyer.” – AR

How did you get the process started?

“We initiated the planning of the sale with a discussion with the Chairman of our Board, Ulf Karlsten. He proceeded to contact a number of brokers and then recommended Excore.” – JG

What does your future look like now?

“I will remain as CEO of KC Betong for another two years. What happens after that, I’m not sure. But I do know one thing, I’m going to cut down my hours. I want more time for skiing and snowmobiling in Sälen where I have a cabin.” – AR

“Right now I’m winding up everything regarding my previous involvement in KC Betong. And already getting more time to spend on other exciting business. I have lots of ideas I want to realize. Among other things, I’ve designed a safety vault with huge potential and I plan on building a factory for it. Further, I have business in Chile and received inquiries about working in the same way with Colombia. The last four weekends I’ve had time for skiing, and once the spring is here I’ll have more time to take out my Harley-Davidson.” -JG

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Jack Gustavsson

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Alf Rytter

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