After the deal: Anders Eriksson at INUStyr talks about the company’s continued growth journey

One thing we at IMAP are very careful about is that we want to create the best conditions for our clients, both before, during and above all after a process. We hope that our previous clients are at least as satisfied five years after a deal as the day the deal was completed. therefore, we sat down with Anders Eriksson at INUstyr to hear how the first 1½ years together with a new majority owner have been.

What made you bring in a new majority owner?

For several years we had been courted by several different buyer candidates, but we had not felt ready or that the timing was right. Given that it is among the biggest decisions you can make as a business owner, it needed to take time for us. Every now and then we raised the issue in the owner group and in the end, we felt that it might be time.

This was mainly due to three factors: Some of the shareholders were a little older and started to think that they wanted to sell their shareholdings, we saw how the market developed and that it was financially the right time and economy to sell but the most important factor was that we wanted bring in a partner who could accelerate our expansion through knowledge and capital but still let us run the company in our own way.

What did you consider important that a new owner should contribute with?

When we and IMAP sat down and wrote our "list of requirements" on what a new owner should contribute with, it eventually became quite long. A number of us owners also had a history where the company we worked at was being acquired and where in the end it did not turn out at all as we had imagined and were promised, this was something we had in mind.

The first thing we jointly agreed on was that we wanted to find a new long-term owner who could provide stability and security primarily for our employees but also for our customers. We also all wanted to be able to remain as co-owners to be part of the exciting journey we saw ahead of us, but also to show long-term perspective and security for our employees and customers.

A new majority owner would also be financially strong so that we could implement major investments that we considered necessary, both internally and geographically, and possibly through additional acquisitions. We also wanted to continue to operate INUstyr in the way we wanted, without a new owner getting involved in the day-to-day operations but being able to give us support if we were to request it. We were also clear that we would not double sales in a couple of years and therefore a new owner needed to share our views on growth, and not have unreasonable expectations and expansion plans.

What has Beijer Tech contributed with?

I see that when I read my answer to the question above, it is in many ways precisely Beijer Tech I described there, and it also shows what a good match we found in them. In all the meetings we had with Beijer Tech during the process, we thought they understood us well and that they were also responsive to certain adjustments that needed to be made in business proposals and structure.

What kind of changes have taken place?

Beijer Tech's parent company Beijer Alma is listed on the stock exchange, so it has meant a little more financial reporting for us, but nothing that is unreasonable or directly burdensome, it is rather positive as we always have even better control of the current situation in our growing group of companies.

Otherwise, Beijer Tech helps with the major strategic decisions. Together, we have already made additional acquisitions, which has expanded the business with four new offices in new locations.

Describe acquisitions and the idea behind them?

In recent years, we have worked with larger customers and projects, many of these customers are present in other locations than INUstyr. Through complementary acquisitions to the INU group, we can offer our larger customers the same fantastic service in more locations and also follow the customers if they choose to expand geographically. We believe that our larger customers appreciate a long-term partner that they already trust and, in this way, we can expand our already established partnerships.

Has your role changed?

Yes, to some extent it has become more operational work as we have expanded existing operations, acquired companies, and grown a lot. At the same time, it has meant many new situations, which has been very exciting and educational.

What have been the biggest challenges since the sale?

When you get a new majority owner, it automatically means some work in the beginning to set new structures and processes. But the biggest challenge has clearly been that we have already made a major additional acquisition of a company called Novosystems, where immediately after the acquisition we began mergers of all our internal systems and working methods between the two companies.

What has been the most fun?

That everything has developed according to the plans we set up early with Beijer Tech. We also experience that our staff and our customers have been very positive since the sale, which feels incredibly fun and inspiring.

Where do you think INUstyr will be in 3 and in 5 years?

I am convinced that in 3-5 years the INU group is an even stronger player in the market and that most of us previous owners continue to run our business and are committed to our roles just as before, this is what we know best, and this is what we want to do. We have probably expanded further geographically and have sharpened our customer offering even more.

What did IMAP contribute with to your process?

Everything! It may sound like a cliché but without IMAP we would never have succeeded as well as we did. First, we had a relationship with IMAP several years before the process, which I think was extra beneficial for us. Once we had decided to test a process, IMAP immediately took on a clear project management role and coached us throughout the process. From material collection and IM production, to finding the right buyers, negotiating for us, and making sure we were well paid!

What was the most interesting part in the sales process?

To see what a great interest there was for INUstyr and hear how different buyers reasoned. But the most interesting thing was to realize that we can choose a partner who was really good for us, for our employees and for our customers and still get paid well.

What was the hardest part of the sales process?

As I said, it was very positive with a lot of interest, but it also meant that it took a lot of time to conduct a larger number of management meetings, but also to digest all the impressions and to sift through the various companies to select a smaller number of companies to further discuss with. At the end of the process, the DD phase was also quite time-consuming, and here too it was very nice that IMAP had a project management role.

Do you have any tips for someone who is considering selling their company?

No, not at the moment, but I will always recommend IMAP to anyone considering selling their company. Even though I may be a little biased, says Anders and laughs.