Svea Solar is a company dedicated to providing green energy solutions by supplying and installing solar systems, batteries, and electric car chargers. The company aims to empower homeowners to manage their energy production and consumption more efficiently. Svea's offerings include a digital platform, the Svea App, which allows users to monitor and optimize their energy usage. This application helps customers save on monthly electricity costs by forecasting electricity prices and enabling them to charge their vehicles or sell excess solar energy at optimal times. Svea Solar is committed to making renewable energy accessible and affordable, while also contributing to the reduction of CO2 emissions.
Sunbooster is a company focused on solar energy solutions, specializing in the design, installation, consulting, engineering, and maintenance of solar photovoltaic panels. Its technology aims to enhance the efficiency of solar power plants, ensuring optimal operating conditions that help customers reduce power losses and maximize energy production. Through its comprehensive services, Sunbooster promotes green energy initiatives and supports the transition to sustainable power sources.
Raw Fury AB is a video game publisher based in Stockholm, Sweden, specializing in indie games. Founded in 2015, the company has developed a diverse portfolio of titles that includes Kingdom, Kathy Rain, Gonner, and Night Call, among others. Raw Fury's games are available on multiple platforms, including Android, iOS, Linux, macOS, Microsoft Windows, Nintendo Switch, and Xbox One. The publisher is known for its focus on unique storytelling and artistic design, often featuring hand-painted graphics and narratives with existential themes and multiple endings. Through its commitment to innovative gameplay experiences, Raw Fury aims to create engaging and enjoyable games for a wide audience.
The AP process affects many roles in an organization. Procedures are complex and unique to every industry. AP software has to be flexible enough to handle all the variables, be intuitive for users, and provide seamless integration. With feedback from over 3,500 clients and over 200,000 users worldwide, we have fine-tuned a solution that delivers flexibility, transparency and accountability to all the roles the AP process touches in an organization.
Private Equity Round in 2021
Totême is a D2C fashion company that creates ready-to-wear, shoes, bags, and accessories. It started as a studio producing a label for ready-to-wear, shoes, bags, and accessories. The company currently employs a digital-first and direct-to-consumer business model which is mixed with online retailers and department stores. Totême is a style universe with a singular aesthetic. Based in Stockholm, the label explores the appeal of a modern uniform through distinct design cues, meticulous craftsmanship, and methodic repetition. Inspired by women’s lives and needs, the ambition is to define a dress code and wardrobe that backs their purpose.
Aarke is a manufacturer of premium home appliances focused on blending luxury with everyday functionality. The company produces carbonators and water bottles that emphasize sustainability and high quality. The name "Aarke," meaning "everyday" in Southern Sami, reflects the brand's commitment to integrating stylish and practical solutions into daily life. By prioritizing standard conditions and environmentally friendly practices, Aarke aims to enhance the consumer experience while promoting responsible consumption.
Eleda Group specializes in engineering, excavation, and construction services focused on critical infrastructure sectors, including water, heating, and transportation. The company provides a wide range of services, from complete project contracts to machinery leasing. Its expertise extends to building and maintaining the electricity grid, as well as developing hydro and wind power plants, which are essential for supporting the electrification and digitalization of society. Eleda operates through local companies that are leaders in their respective markets, enabling them to handle projects of various scales, from smaller assignments to comprehensive contracts.
XXL was founded in 2001 and today owns and operates 14 sporting goods mega-stores located in the largest cities in Norway. In the period 2003 to 2010 sales have grown on average by 30% per year and in 2010 XXL expects to reach sales of almost NOK 2 billion. XXL is the fastest growing player on the Norwegian sporting goods retail market with a market share of close to 15%, which is increasing rapidly.
RengasDuo Oy is a Finnish company established in 2015, specializing in the wholesale distribution of tires. Based in Virolahti, the company offers a wide range of products, including passenger, van, and truck tires. RengasDuo maintains an extensive stock that features both summer and winter tires, catering to various customer needs with options ranging from budget to high-quality brands manufactured in Europe. The company focuses on storing, selling, and supplying tires to its customers across Finland.
Gummigrossen AB is a privately owned distributor specializing in tires for passenger cars, trucks, construction machinery, and agricultural machinery. The company focuses on offering a range of winter and summer tires, tire rims, and related specialty products. By sourcing from multiple workshops, Gummigrossen is able to negotiate lower purchasing prices, benefiting dealers and ensuring competitive pricing for clients. Operating primarily in the Nordic and Baltic markets, Gummigrossen collaborates with well-known tire brands to provide high-quality products at reduced costs.
iDeal of Sweden AB, founded in 2012 and headquartered in Norrköping, Sweden, specializes in designing, manufacturing, and retailing mobile accessories and fashion items. The company operates primarily through an online direct-to-consumer model, leveraging a significant global influencer network to reach its audience. iDeal of Sweden offers a diverse range of products, including mobile shells, wallet cases, power banks, screen protectors, chargers, and various types of mounts. These products are crafted from durable materials, ensuring that they are both stylish and capable of withstanding daily use. The brand emphasizes high design content in its offerings, appealing to consumers who prioritize both functionality and aesthetics in their mobile accessories.
Gnist Barnehager AS operates a chain of daycare centers. It provides pre kindergarten services and provides children area to play ball games and group games. It also provides play equipment in its centers for physical activity The company was formerly known as Grønmyr Barnehage AS and changed its name to Gnist Barnehager AS in 2014. The company was founded in 2004 and is based in Ulsteinvik, Norway.
Trioworld, based in Smålandsstenar, Sweden, is a prominent industrial group specializing in the development, manufacture, and distribution of various packaging materials. Founded in 1984, the company employs over 1,000 individuals and generates a turnover of SEK 4.3 billion. Trioworld offers a diverse range of products, including bale wrap, silage film, horticulture film, various types of industrial and waste wrap films, and hygiene film, serving multiple sectors such as agriculture, retail, construction, and logistics. The company operates production facilities in Sweden, Denmark, and France, catering to a global market with innovative and cost-effective polyethylene film solutions. Its principal owner is Altor Funds.
Private Equity Round in 2018
O’Learys Bar & Restaurant is a Swedish franchise chain that was in 1988 in Gothenburg, Sweden by Jonas Reinholdsson and is run by O’Learys Trademark. Today, there are more than 130 restaurants in Sweden, Norway, Denmark, Finland, Iceland, Belgium, Spain, Hungary, Turkey, United Arab Emirates, Singapore, China and Vietnam. The total revenue was 2017 more than 2,3 billion SEK. As a partner to the Sweden UN association, O’Learys runs the CSR program Meal4Meal, which, so far, has contributed with more than 2,1 million school meals in Etiopia and DR Congo. O’Learys core values are Fair, Passionate, Proud.
LRF Konsult AB is a farmer consultancy group based in Stockholm, Sweden, established in 1918. The firm provides a range of services including business economics, corporate law, fiscal legislation, accountancy, and advisory services. Catering to over 75,000 clients, LRF Konsult serves farm businesses, forest owners, and small companies. With offices in 130 locations across Sweden, the company also offers expertise in finance, tax, business advisory, and property brokerage.
FH Gruppen AS, founded in 2006 and based in Oslo, Norway, specializes in the construction of holiday homes and houses. Recognized as Norway's fastest-growing manufacturer in this sector, the company offers a range of products under several brands, including Familiehytta, Family House, Telemark cabins, and Northern Lights cabins. By focusing on the holiday home market, FH Gruppen has established a strong presence in the industry, catering to the increasing demand for quality vacation properties in Norway.
RevolutionRace is an outdoor apparel brand that specializes in high-quality, functional clothing designed for an active lifestyle. The company was founded after a hike to Everest Base Camp, where co-founder Pernilla identified a gap in the market for affordable outdoor clothing that offered both a perfect fit and effective performance. RevolutionRace caters primarily to customers aged 18 to 70, providing a range of multifunctional apparel through its online store. By utilizing a direct-to-consumer model, the company ensures that its products are available exclusively online, allowing for a streamlined shopping experience that meets the needs of outdoor enthusiasts.
Unsurpassed global localization and media content distribution services with 40 facilities in 30 countries.they accelerate our vision to be a technology leader by providing innovative solutionsto better streamline the growing complexity in meeting client needs,utilizing artificial intelligence-driven machine learning to serve the variation of different quality tiered projects or lead times that clients face.
Nordic Trustee Holding ASA provides bond trustee services to the investors in interest-bearing securities in Norway, Sweden, Denmark, and Finland. It also offers loan administration, payment processing, escrow, and account management services; and operates as listing agent and agent for service of process, as well as engages in safe-deposit of source codes. In addition, the company provides surety solutions for unfunded pension schemes; and electronic solutions for the provision of information on securities to the Nordic market for interest-bearing securities. The company is based in Oslo, Norway.
Transcom Worldwide is a global provider of customer experience services, operating through a network of contact centers and remote agents across various countries. Founded in 1995 and headquartered in Stockholm, Sweden, the company specializes in customer care, sales, technical support, and credit management services, catering to industries such as telecommunications, financial services, retail, and logistics. Transcom focuses on enhancing customer interactions across multiple channels, including phone, email, chat, and social media, to foster positive brand perceptions and loyalty. The company employs around 30,000 customer experience specialists who deliver services in 33 languages, utilizing insights from customer interactions to help clients improve their offerings and operational efficiency. Transcom's commitment to digital transformation and smart shoring enables businesses to streamline their customer service processes while reducing costs.
TRESU Group is a highly specialised company offering flexible, customized solutions of flexo printing machines and ancillary products for flexo and offset printing. We have over 35 years’ expertise in the development and production of engineered solutions for the package print converter, and with more than 95% of our production being exported, TRESU Group is a global player on the world market. Our success is driven by our people and their unrelenting focus on delivering results the right way.
Transcom Worldwide is a global provider of customer experience services, operating through a network of contact centers and remote agents across various countries. Founded in 1995 and headquartered in Stockholm, Sweden, the company specializes in customer care, sales, technical support, and credit management services, catering to industries such as telecommunications, financial services, retail, and logistics. Transcom focuses on enhancing customer interactions across multiple channels, including phone, email, chat, and social media, to foster positive brand perceptions and loyalty. The company employs around 30,000 customer experience specialists who deliver services in 33 languages, utilizing insights from customer interactions to help clients improve their offerings and operational efficiency. Transcom's commitment to digital transformation and smart shoring enables businesses to streamline their customer service processes while reducing costs.
Private Equity Round in 2016
Navico is a specialized electronics company that manufactures and supplies marine electronics and sensors for both recreational and commercial sectors. Its product portfolio includes navigation systems, autopilots, fish-finders, radars, VHF radios, and gyrocompasses, all designed to enhance safety and enjoyment in boating. Innovation is central to Navico's operations, with an impressive product launch schedule that averages a new offering every 20 days, significantly contributing to its revenue. Most of the company's earnings come from products introduced within the last two years, highlighting the critical role of innovation in driving growth. Navico has also achieved improved profit margins through effective design-to-value engineering and strategic sourcing, despite a decline in average selling prices. Additionally, lean manufacturing practices at its facility in Ensenada, Mexico, have led to increased productivity, with each employee now producing ten times as many products as in 2007.
Realia Group Oy is a real estate management company based in Helsinki, Finland, founded in 2000. It specializes in both residential and commercial property management, offering a range of services including real estate brokerage, buy-to-let, investment advisory, property valuation, and management services. The company caters to a diverse clientele that includes private individuals, households, housing associations, corporations, and institutions. Realia Group Oy aims to enhance sector expertise and transparency, providing timely market information to its customers. The company operates through subsidiaries in Finland, Estonia, Latvia, Lithuania, and Poland, focusing on comprehensive solutions for various real estate needs.
In April 2000, Skandiabanken was launched as the first pure digital bank in Norway. Today, the Bank offers a comprehensive range of financial products and services to individuals and households in Norway within payments and card services, deposit-based savings, investment products, long-term loans and short-term loans. The Bank has no branches and all products and services are offered directly through the digital platform, which is available on a broad range of user devices. By the end of 2016, Skandiabanken had 388,614 account customers with a balance, and total assets of NOK 71.2 billion.
Infotheek International B.V., established in 1991 and headquartered in Leiden, the Netherlands, operates as an IT distributor and reseller specializing in end-of-life and refurbished IT products. The company assists organizations in optimizing their IT budgets by providing a range of solutions, including new and refurbished IT hardware, software, and rental options. In addition to hardware sales, Infotheek offers supplementary services such as cloud solutions, wireless setup, installation, and maintenance, helping clients effectively manage their IT needs while promoting sustainability through the reuse of technology.
Private Equity Round in 2015
HAMLET PROTEIN A/S, founded in 1992 and headquartered in Horsens, Denmark, specializes in the production of soy-based protein products for animal feed. The company focuses on developing, manufacturing, and marketing these protein ingredients, which are designed for various animals, including piglets, calves, pets, poultry, and aquaculture species. HAMLET PROTEIN's unique production process enhances the taste and nutritional value of its products, making them particularly suitable for weaning feed for piglets and calf milk replacers. The company's offerings are distributed across multiple regions, including Europe, South America, Asia, Africa, and Australia/New Zealand. In addition to its headquarters, HAMLET PROTEIN operates production facilities in Horsens, Denmark, and Findlay, Ohio.
Norican Group specializes in the technology, equipment, and services for the formation and enhancement of metallic parts. The company offers a range of solutions, including parts formation technologies such as horizontal, matchplate, and vertical moulding, as well as surface preparation technologies like airblast and wheelblast systems. Its core branded platforms, DISA and Wheelabrator, cater to diverse client needs by providing both standard and custom-tailored solutions. Norican Group also supplies related replacement parts and aftermarket services, which help clients optimize their operations, increase production efficiency, and reduce operating costs.
The Spectrum Group of companies provides Seismic Data Processing, Multi-Client and Offshore Acquisition services from offices located in four continents. As a result of the natural synergy which has developed out of the formation of the new Group, these complementary product lines now make it possible for the company to offer the Oil and Gas industry a full range of integrated services.
Curato AS specializes in radiology and medical imaging services, offering a range of procedures including mammography, x-ray, and magnetic resonance imaging. Based in Norway, Curato not only provides these diagnostic services but also features a comparison service that enables clients to locate nearby clinics for x-ray services. This dual approach allows patients to access necessary medical imaging while facilitating informed decisions about their healthcare options.
Enhanced Drilling is provides drilling solutions. It offers EC-Drill managed pressure drilling system; Riserless Mud Recovery system, a risk-reduction tool; managed pressure cementing system that provides precise control of the pressure and flow of returning cement; cuttings transportation system that is used in the offshore market; CannSeal, a proprietary annular isolation technology for enhanced oil recovery for zonal isolation and well integrity applications, as well as to support to plug and abandonment, and P&A activities.
Rossignol is a mobile app developer company and developed an app Ski Pursuit. This company was founded in 1907. This app is compatible with iPod touc
Haarslev Industries A/S designs, manufactures, installs, and maintains systems and equipment for the processing of fish, animal by-products, domestic and sewage waste, bio fuels, and by-products from food and beverage manufacturing. The company offers cooking and heating, cooling, drying, odor control, pressing, separation, sizing, storage, and transport systems and equipment. It also provides service, repairs, and spare parts. The company serves fish processing, poultry rendering, meat rendering, food and feed ingredients, and environmental sectors worldwide. Haarslev Industries A/S was founded in 1973 and is based in Sonderso, Denmark. It has operations worldwide. Haarslev Industries A/S operates as a subsidiary of Haarslev Group A/S.
Orchid Orthopedic Solutions LLC, doing business as Orchid Lansing, provides orthopedic and medical device contract design and manufacturing outsourcing services. The company engages in the contract design and manufacture of implants, instruments, and machining and plastic technologies for orthopedic, dental, cardiovascular, joint reconstruction, trauma, spine, sports medicine, craniomaxillofacial, orthobiologics, and general surgical markets. It also offers a portfolio of services, including design, prototyping, forging, casting, machining, plastic injection molding, implant bone coating, cutting instrument manufacture, instrument assemblies, surface treatment, and packaging services, as well as quality and regulatory consulting services. Orchid Orthopedic Solutions LLC was founded in 2005 and is headquartered in Mason, Michigan with various facilities worldwide. It also has design centers in Shelton, Connecticut and Memphis, Tennessee.
Ålö supplies is a supplier in the agricultural machinery business. They have been developing and manufacturing top-quality front-end loaders under the brands Quicke® and Trima®, and associated implements under Original Implements™, since 1949. With sales companies in 7 countries, factories in four countries and customers in more than 50 countries, they account for 30 per cent of the world market in the segment for tractors with engines more powerful than 50 hp. Around 90 per cent of their total output is exported. Sales in 2017 amounted to approx. 34,500 loaders and 46,000 implements for a total value of SEK 1,8bn. The principal owner is the international private equity company Altor.
CTEK Power Inc. designs and develops a unique series of high-tech battery chargers and special solutions for all types of lead-acid batteries for both private and professional use. The cornerstone in CTEK’s successful business concept that allows the development of a new category of battery charger is the extensive knowledge of batteries and electronics. These new battery chargers satisfy not only today’s high demands on battery care, but also take the increasing needs of the growing group of new users into consideration. Safety, simplicity and flexibility are key words and requirements that apply to all the products and solutions currently developed and sold by CTEK. Since their initiation, close to three million battery chargers have been sold in 60 countries throughout the world. CTEK is also a reliable OEM supplier to many of the world’s most prestigious car and motorcycle manufacturers.
Apotek Hjärtat is Sweden's largest private pharmacy chain, established following the deregulation of the pharmacy sector in 2009. The company operates a network of retail pharmacies across the country, offering a wide range of products including medications for allergies, colds, and various skin conditions. In addition to traditional pharmacy items, Apotek Hjärtat also provides products for nasal care, heart health, injections, and oral hygiene, as well as personal care items for hair and hands. The business serves customers through both its physical storefronts and its online platform, ensuring accessible healthcare solutions across Sweden.
Sonion A/S design and manufacturing of advanced miniature components and solutions.
Private Equity Round in 2009
Carnegie Holding AB, based in Stockholm, Sweden, is a prominent financial institution that operates through its subsidiary, Carnegie Investment Bank AB. Founded in 1803, the firm specializes in investment banking, private banking, and asset management, primarily in the Nordic region, including Denmark, Norway, Sweden, and Finland. Carnegie provides a range of services such as advisory for mergers and acquisitions, equity capital market transactions, and financial consulting for high net worth individuals, small businesses, and institutions. The bank is known for its high-quality research and equity sales, covering approximately 300 Nordic companies, and it targets institutional clients through its securities division. Additionally, Carnegie's private banking services address various client needs, including family law, tax management, and investment strategies. With a team of around 650 employees, Carnegie leverages its local expertise and independent status to deliver tailored financial solutions and achieve long-term investment growth for its clients.
Åkers AB has been a leader in the production of cast and forged rolls since 1806 and has a strong presence in the industry with sales and technical support that span the globe. Akers manufacturing facilities are located in Europe, North America, and China.
OptiGroup is a European business-to-business distributor specializing in essential products and services across various sectors, including Facility Solutions, Packaging & Safety Solutions, Printing & Creative Solutions, and Reseller Solutions. With net sales of EUR 1.5 billion in 2016, the company serves more than 65,000 customers in 19 countries, supported by a workforce of approximately 1,900 employees. OptiGroup offers a diverse range of products, including coated and uncoated paper, paper board, hygiene supplies, and packaging materials, catering to industries such as cleaning, facility management, hospitality, and healthcare. The company is dedicated to enhancing operational efficiency for its clients and maintaining a strong commitment to customer service.
NorthStar is a global leader in designing, manufacturing and deploying a wide range of batteries and energy storage solutions. Their mission is to deliver reliable and sustainable power to the world. Using advanced technology, Their products are built to ensure longer battery life, lower operating costs and reduced environmental impact. They maintain a global presence with major operations in Sweden, USA, China and the Middle East and distribution and service centers in Latin America, Europe, Africa and APAC.
Qmatic Group is the global leader in customer journey technology solutions and insights. They pioneered the concept more than 30 years ago. Today, across more than 120 countries, organizations rely on Qmatic and their network of global partners to deliver fulfilling interactions for customers, patients, citizens, and employees.
Wrist Ship Supply is the largest ship supplier globally, offering comprehensive services to ship owners, operators, and clients in the offshore market. The company operates through regional centers in Europe, the Far East, the Middle East, and the USA, providing 24/7 service to support marine, offshore, and navy operations. With over 30 operational sites and more than 300 partnerships with local suppliers, Wrist efficiently coordinates global activities across major sea-lanes. Its full-service offerings include handling of owners' goods, shipping, airfreight, and related marine services, catering to the needs of both multinational organizations and small local businesses.
Euro Cater A/S, founded in 2006 and headquartered in Svenstrup, Denmark, is a supplier of food and non-food products to the hospitality and catering sectors. The company serves a diverse clientele, including restaurants, hotels, caterers, and government institutions in Denmark and Sweden. Its product offerings encompass fresh fruits, canned goods, assorted meat products, as well as machinery and equipment designed for professional kitchens. Euro Cater operates multiple offices across Denmark and Sweden to effectively meet the needs of its customers in these markets.
Helly Hansen AS is a Norwegian company that specializes in manufacturing and distributing high-quality outerwear and performance apparel for men, women, and children. Founded in 1970 and based in Oslo, the company offers a wide range of products, including jackets, pants, sweaters, rainwear, and accessories, as well as footwear and bags. Helly Hansen is known for its protective technical gear designed for extreme conditions, catering to both work and recreational activities. The company utilizes insights from professionals who operate in challenging environments to continuously enhance the technology and design of its products. Helly Hansen also sells its merchandise through online channels and operates as a subsidiary of Canadian Tire Corporation, Limited.
Dustin is a prominent online-based IT partner operating in the Nordic region and the Netherlands, primarily serving small and medium-sized enterprises, the public sector, and private individuals. The company bridges the gap between a broad range of manufacturers' products and the specific needs of its customers. With a portfolio of approximately 255,000 products, Dustin offers various IT solutions and services, including assessments, digital workplace solutions, cloud services, backup and disaster recovery, managed print services, and IT security. The company employs over 1,000 individuals and generated sales of SEK 10.3 billion in the 2017/18 financial year, with more than 90 percent of its revenue coming from the corporate market. Dustin has been listed on Nasdaq Stockholm since 2015 and is headquartered in Nacka, Stockholm.
SPT Group AS develops software for multiphase flow, drilling, and reservoir simulation in Norway. It offers solutions for reservoir optimization, drilling hydraulics, well dynamics, flow assurance, process dynamics, and production and pressure management. The company’s software products include OLGA, a solution for engineering and operation of onshore and offshore multiphase production systems; MEPO, a solution to support the process of history matching in reservoir engineering; Drillbench, for engineering and follow-up of various drilling operations; and edpm, an online production and drilling support system.
Headquartered in Sweden, Piab is a global supplier of industrial vacuum technology solutions. Established in 1951, Piab’s innovative solutions serve to improve the energy efficiency, productivity and working environment of customers around the world. Piab manufactures a complete line of vacuum pumps, vacuum accessories, vacuum conveyors and suction cups for a variety of automated material handling and factory automation processes.
KaVo Kerr is a cohesive organization comprised of two global leaders, united to provide dental excellence and serve as a single premier partner for the dental community. For more than 100 years, KaVo has focused on innovation and quality in dental products and services, building an outstanding reputation among dentists, dental technicians and dental hygienists. KaVo offers a comprehensive product portfolio that includes imaging, treatment units, instrumentation, laboratory equipment and educational aids. In product development, service and support, customers around the world see and experience KaVo’s ongoing commitment to Dental Excellence.
Meyn Food Processing Technology specializes in providing equipment and systems for the poultry processing industry, catering to industrial poultry processors. The company offers a comprehensive range of products, including live bird handling solutions such as crate, drawer, and container systems. Its slaughtering equipment features stunners, killers, electrical stimulators, jet stream scalders, pluckers, head pullers, and hock and feet cutters. Additionally, Meyn supplies various evisceration products, which include vent cutters, opening machines, fat retention machines, maestro eviscerators, cropping machines, neck breakers, final inspection machines, and inside/outside bird washers. Through its diverse offerings, Meyn plays a crucial role in enhancing the efficiency and effectiveness of poultry processing operations.
Dynapac AB, based in Karlskrona, Sweden, specializes in the development, manufacturing, sales, and servicing of compaction and paving equipment for the road construction market. The company offers a diverse range of products, including single and double drum vibratory rollers, tamping compactors, tracked and wheeled pavers, mobile feeders, and various types of milling equipment such as compact and high-capacity planers. In addition to its equipment, Dynapac provides original parts, maintenance, logistics, and financing services, which include leasing and hire-purchase options. The company operates manufacturing facilities in Brazil, China, Germany, India, and Sweden and has a global presence with locations across Africa, Asia, Europe, the Middle East, North America, Oceania, and South America. Founded in 1934 and formerly known as AB Vibro-Betong, Dynapac became a subsidiary of Fayat SA in 2017.