Acquisition: Karnell Group AB (publ)
Karnell Group AB (Karnell), the Nasdaq Stockholm listed long term industrial investor, has completed the acquisition of Flex7 Limited (Flex7), a UK based designer and manufacturer of modular lighting connection and control systems for commercial and public buildings.
Founded in 1998 and headquartered in Twyford, Flex7 has established a strong market position within the electrical installation sector, supported by installer driven demand, a recognised brand, and a loyal customer base. The acquisition strengthens Karnell’s presence in the UK, adding a profitable niche product company, with approximately £9 million of annual revenue, to its portfolio.
The transaction aligns with Karnell’s strategy of acquiring high quality niche businesses with strong customer relationships and long term growth potential, further building out its UK platform.
Crowe’s role and team
Crowe provided financial and tax due diligence. The Corporate Finance team was led by George Lawford, Jacob Porter and Lucy Gill, and the tax team was led by Emma Reynolds.
Client quote
"The acquisition of Flex7 represents an important step in expanding our UK presence and strengthening our portfolio of high quality niche industrial businesses. Having worked with Crowe on multiple transactions, we were pleased to continue our relationship, with the team providing consistently responsive support through to completion. Their expertise and professionalism provided clarity and reassurance throughout the process, enabling a smooth and successful transaction."
Anders Elgemark, Investment Director, Karnell Group AB (publ)
