Wallenberg Companies

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The Wallenberg Foundations own, or have controlling interests in, a number of companies. These holdings are directly and/or indirectly owned in turn by two companies:

  1. Foundation Asset Management AB (FAM): privately-owned 100% by the Wallenberg Foundations. As of Dec.31.2017, FAM's holdings amounted to ~SEK 46 bn.
  2. Investor AB: a public company listed on the Nasdaq Stockholm exchange. The Wallenberg Foundations hold a 57% controlling interest.[1]

Affiliations

Jacob Wallenberg, CEO of Investor + Vice Chairman of FAM, is a member of the European Round Table of Industrialists, which lobbies against climate change policies. Notably, FAM has a significant interest in Stora Enso Oyj as well as in Bergvik Skog, which owns ~2.4 million hectares of forest land.

Foundation Asset Management

Sources:
FAM - INNEHAVEN. (Holdings) FAM. Accessed Oct.10.2018.
FAM - Årsredovisning 2017 (Annual Report) 2017. FAM. Accessed Oct.10.2018.
Acturum Biovation. Biovation Park. Accessed Oct.11.2018.
Owners Bergvik Skog. Accessed Oct.11.2018.

Investor AB

    • Listed Core Investments (72% assets). Listed portfolio companies in which Investor is a significant owner.
      • AstraZeneca.svg
        11%: AstraZeneca. Global integrated biopharmaceutical company.
      • 23.2%: Atlas Copco. Compressors, vacuum and air treatment systems, construction and mining equipment, power tools and assembly systems.[2]
      • 10.7%: ABB Group. Electrification products, robotics and motion, industrial automation and power grids.
      • 29.9%: Electrolux AB.[3] Household appliances and appliances for professional use.
      • 23.6%: Epiroc AB.[4] Mining and infrastructure business, spun off from Atlas Copco in Jun.2018.
      • Ericsson-2018-horiz.svg
        22.5%: Ericsson.[5] Communications technology and services.
      • 42.2%: Husqvarna Group.[6] Outdoor power products, consumer watering products, cutting equipment and diamond tools.
      • 11.8%: Nasdaq Inc.[7] Trading, information and exchange technology services.
      • 28.8%: Saab AB. Products, services and solutions for military defense and civil security.
      • 20.8%: SEB AB. Financial services group with main focus on the Nordic countries, Germany and the Baltics.
      • 39.4%: Swedish Orphan Biovitrum AB (SOBI). Develops and delivers innovative therapies and services to treat rare diseases.
      • 17.7%: Wärtsilä Corp. Complete lifecycle power solutions for the marine and energy markets.
    • Patricia Industries (24% assets). Wholly- and partner-owned companies, financial investments.[8][9]
      • 40%: 3 Scandinavia. Mobile voice and broadband services in Sweden and Denmark. Co-owned with CK Hutchison Holdings.
      • 100%: Aleris AB. Private health care and care services provider for the Scandinavian market.
      • 95%: Braun Corporation t/a BraunAbility. Manufacturer of automotive mobility products; design, development and distribution of wheelchair accessible vehicles and wheelchair lifts.
      • 100%: Grand Group, offers accommodation, food & beverage, spa, conference and banqueting; Grand Hôtel, Lydmar Hotel, + Hotel Drottning Kristina
      • 97%: Laborie Medical Technologies Inc. Develops, designs and distributes equipment for the urology and gastroenterology sectors, with complementing and recurring high-volume sales of disposable catheters.
      • 99%: Mölnlycke Health Care AB. Designs, manufactures and supplies single-use products for treatment and prevention of wounds and pressure ulcers.
      • 90%: Permobil AB. Mobility and seating rehab solutions through development, production and sale of, via distributors, powered and manual wheelchairs, as well as cushions and accessories.[10]
      • 100%: Piab AB. Smart solutions for the automated world.
      • 100%: Sarnova Inc. US specialty distributor of healthcare products for the emergency preparedness and acute care markets.
      • 100%: Vectura Fastigheter AB. Develops, owns and manages real estate. Largest customers include Aleris, Grand Hôtel and Investor AB.
      • Financial Investments. Consists of European, Asian and North American investments in which the investment horizon has not yet been defined. Stems from former venture capital arm "Investor Growth Capital". The 5 largest investments are: NS Focus, Madrague, Spigit, Acquia, CallFire. ref, p.12
    • 19%: EQT Holdings AB, t/a EQT Partners (4% assets). Investment firm with portfolio companies in Europe, Asia and the USA. EQT operates within several different asset classes: fully-invested, equity, infrastructure, mid-market, credit and ventures funds.
Sources:

Timeline

Jul.2018 Hotel Drottning Kristina acquired by Patricia Industries' Grand Group.[11]
Jun.2018 Piab Group AB accquired from EQT Partners.[12]
Epiroc AB spun off from Atlas Copco, to focus on mining and infrastructure customers.[13]
Apr.2018 Sarnova Inc acquired by Patricia Industries, together with its family of companies: Bound Tree Medical, Cardio Partners, Emergency Medical Products and Tri-anim Health Services.[14]
Dec.2017AB Sandvik Process Systems acquisition by FAM from IPCO AB complted. Following a branding transition period, the business will be conducted under the new name of IPCO.[15]
Nov.2017Bergvik Skog underwent structural changes as part of a plan to acquire new forest assets. Bergvik Skog owns approximately 2.3 million hectares of land in Sweden and about 0.1 million hectares in Latvia. The Swedish assets are owned by its subsidiaries Bergvik Väst (83%) and Bergvik Öst (17%). The restructuring allowed Stora Enso to transfer its ownership in Bergvik Skog (49.3%) to a direct holding of ~70% of the value of the forest assets in Bergvik Väst. FAM would directly own ~15% of Bergvik Väst, and ~15% directly owned by a consortium of smaller shareholders.[16]
2016 Laborie: Patricia Industries acquired a majority stake.[17]
Sept.2015 BraunAbility acquired by Patricia Industries.[18]
Apr.2015 Nefab: FAM acquires a 50% stake.[19]
2015 Patricia Industries formed to focus on wholly-owned, unlisted investments in the Nordics and in North America.[20]
Aug.2013 Lydmar Hotel AB: Grand Group became the principal owner. The remaining assets were acquired in Oct.2014.[21]
Mar.2013 Permobil acquired by Investor; later becomes a Patricia Industries holding.[22]
Feb.2013 Höganäs AB acquired by FAM and the Linden Group, 50% / 50%.[23]
Nov.2012 Vectura: established with the purpose of building a business of care facilities in partnership with Aleris, and to efficiently manage and own real estate utilized by Investor AB and Grand Hôtel.[24]
2012 Investor sold Gambro to Baxter International Inc.[25]
2012 Wärtsilä Corp: Investor acquires its first stake.
2011 Nasdaq Inc: Investor invests in Nasdaq.
Jul.2010 Aleris acquired from EQT Partners by Investor;[26] it later becomes a Patricia Industries holding.
Mar.2010 Saab Aerospace: BAE Systems sold half its 20% stake to Investor AB.
2009 Swedish Orphan Biovitrum AB: Investor invests in SOBI, an international specialty biopharmaceutical company dedicated to rare diseases.
2008 Saab-Scania AB: Investor sells the rest of its holdings to Volkswagen.
2007 FAM, Foundation Asset Management Sweden AB, is established.
Mölnlycke Health Care is acquired by Investor; later becomes a wholly-owned subsidiary of Patricia Industries.[27]
2006 Husqvarna AB was spun out of Electrolux and became an independent, listed company.
2004 Bergvik Skog AB was formed to acquire the Swedish forest holdings of Korsnäs and Stora Enso.[28]
2000 3 Scandinavia: Investor and CKHH (formerly Hutchison Whampoa) start up the mobile operator.[29]
Saab Automobile AB: General Motors exercised its option to acquire the remaining 50%.
1999
AstraZeneca.svg
AstraZeneca plc: Astra and Zeneca were merged.
1998 Stora Enso Oyj: Stora AB and Enso Oyj merged.
Gambro AB: Incentive changed its name to Gambro, streamlining itself into a focused healthcare company targeting the renal care market.[30]
1997 Saab Aerospace: A 35% stake was sold to British Aerospace.
1996 Hasselblad sold to to UBS, CINVen, and the Hasselblad Management.[31]
1995 Incentive acquired the remainder of Cardo, spun off its Pump, Rail, and Door divisions as the "new" Cardo AB, which then floated on the Stockholm exchange. Incentive retained Cardo's majority shareholding in medical equipment manufacturer Gambro.[32]
Saab-Scania AB was de-merged into two independent companies, Scania AB and Saab AB.
1994 EQT Partners: The private equity firm was established, with EQT Holdings AB as its management company.
Incentive acquired Volvo's "New Investment AB Cardo" 45% holding.[33]
1992 Investor AB: Investor and Providentia merged.[34]
1991Hasselblad: Incentive acquired the remainder of the shares.
Saab-Scania AB: Investor AB completed a leveraged buyout of all outstanding shares in Saab-Scania, which became a wholly-owned subsidiary of Investor AB. The company was de-listed.
1990 Saab Automobile AB: Investor starts to divest, selling 50% of the company to General Motors.[35]
1989 ABB Group: ASEA and Brown Boveri merge.
Saab Automobile AB: the automobile division of Saab-Scania was restructured into an independent company.
1985 Victor Hasselblad AB: Incentive acquires 58.1% of Hasselblad.
1984Patricia formed as the acquisition vehicle for the purpose of the repurchase of Volvo’s shareholdings in Atlas Copco and Stora Kopparberg by Investor and Providentia.[36]
1972 Skandinaviska Enskilda Banken (S-E-Banken) formed by the merger of Stockholms Enskilda Bank and Skandinaviska Banken, to deal more effectively with international competition and have the muscle to finance Swedish-based corporations.
1968 Saab-Scania AB: Saab AB and AB Scania-Vabis merge.
1967 Grand Hôtel in Stockholm is added to Investor’s portfolio.
1963Incentive AB, a holding company, is established.
1960Marcus Wallenberg initiated a buyback of the Ericsson shares held by ITT Inc in the USA since the Krueger Crash.[37]
1956 Electrolux shares are acquired.
1947Saab Automobile formed as a division of Svenska Aeroplan AB.
1946 Scandinavian Airlines System founded (Scandinavian Airlines § FoundingWikipedia-W.svg) by a Sweden / Denmark / Norway partnership to handle their intercontiental air traffic. Together with the Swedish govt, the Wallenberg Group owned 3/7 of the shares in SAS. but see ref
1943Svensk Interkontinental Lufttrafik AB: Marcus Wallenberg helped establish SILA to start flights between Sweden and England.
1937 Svenska Aeroplan AB: Marcus Wallenberg helped establish the company together with the Swedish govt to give Sweden the capability to develop fighter aircraft. The company was formed by the the merger of Svenska Aero AB and Linköping-based VASJA.
1932
Ericsson-1918.pngDeals-Arrow-Left.svg
LM Ericsson: in the wake of the Kreuger CrashWikipedia-W.svg, LM Ericsson and Svenska Tändsticks AB (Swedish Match) became new Wallenberg Group holdings.(Ericsson § Wallenberg era beginsWikipedia-W.svg)
1925 Allmänna Svenska Elektriska AB: Investor becomes a major shareholder in ASEA (later ABB).
1924Astra AB was acquired from the Swedish govt by a private consortium, of which Jacob Wallenberg was a member. ref See also AstraZeneca plc#Astra AB.
1916 Investor AB and Forvaltnings AB Providentia founded as holding companies for Stockholms Enskilda Bank's holdings, due to a new law restricting banks from owning shares.
1878 Economic crisis in Sweden; Stockholms Enskilda Bank rescues some corporate clients, and becomes an active owner. The holdings included Atlas Copco, AB SKF and Stora Enso.
1856Stockholms Enskilda Bank founded.

References

  1. ^ Investor's largest shareholders. Investor AB. Accessed Oct.12.2018.
  2. ^ Listed Core Investments: Atlas Copco. Investor AB. Accessed Oct.10.2018.
  3. ^ Ownership structure. Electrolux AB. Accessed Oct.11.2018.
  4. ^ Listed Core Investments: Epiroc. Investor AB. Accessed Oct.10.2018.
  5. ^ Listed Core Investments: Ericsson. Investor AB. Accessed Oct.10.2018.
  6. ^ Listed Core Investments: Husqvarna Group. Investor AB. Accessed Oct.10.2018.
  7. ^ Listed Core Investments: Nasdaq. Investor AB. Accessed Oct.10.2018.
  8. ^ Investor AB: Fact Sheet Morningstar. Accessed Oct.12.2018.
  9. ^ Investor at a Glance. Investor AB. Accessed Oct.12.2018.
  10. ^ Ownership. Permobil. Accessed Oct.12.2018.
  11. ^ Grand Group AB acquires Hotel Drottning Kristina. My News Desk. Jul.09.2018
  12. ^ Patricia Industries to acquire Piab from EQT. PE Hub Network. Apr.30.2018
  13. ^ Atlas Copco Plans Split in Two to List Mining Tool Business. Bloomberg, Niclas Rolander. Jan.2017
  14. ^ Sarnova. Patricia Industries. Accessed Oct.12.2018.
  15. ^ FAM AB (FAM) has today completed the acquisition of Sandvik Process Systems (SPS) from IPCO AB. IPCO. Dec.01.2017
  16. ^ Stora Enso Moves to Acquire Forest Asets. Bioenergy News. Nov.2017
  17. ^ Laborie: About us. Laborie.com. Accessed Oct.10.2018.
  18. ^ BraunAbility Acquired by Patricia Industries – a Division of Investor AB. Cision, PR Web. Sept.23.2015
  19. ^ FAM becomes co-owner of Nefab. Nefab Group, Press Release. Apr.16.2015
  20. ^ Investor B: Company Profile. Nasdaq. Accessed Oct.10.2018.
  21. ^ Grand Group acquires remaining Lydmar Hotel assets. My News Desk. Oct.06.2014
  22. ^ Investor acquires Permobil – the global leader in advanced powered wheelchairs. Globe News Wire. Mar.27.2013
  23. ^ Lindéngruppen and FAM announce a public cash offer to the shareholders in Höganäs. Cision, PR Web. Feb.11.2013
  24. ^ Vectura. Patricia Industries. Accessed Oct.12.2018.
  25. ^ Gambro: Key events during EQT's ownership. EQT Partners. Accessed Oct.09.2018.
  26. ^ EQT III sells Aleris. EQT Partners. Accessed Oct.10.2018.
  27. ^ Mölnlycke. Patricia Industries. Accessed Oct.11.2018.
  28. ^ About Bergvik Skog. Bergvik Skog. Accessed Oct.10.2018.
  29. ^ 3 Scandinavia. Patricia Industries. Accessed Oct.11.2018.
  30. ^ Gambro AB. Company Histories.. Accessed Oct.09.2018.
  31. ^ Haselblad History. Victor Hasselblad AB. Accessed Oct.11.2018.
  32. ^ Cardo AB. Company Histories.. Accessed Oct.09.2018.
  33. ^ Cardo AB. Encyclopedia.com. Accessed Oct.11.2018.
  34. ^ Mergers and Acquisitions. Follwoing Incentive's demerger from ASEA/ABB, it was listed on the Stockholm Stock Exchange. In 1992, Investor and Providentia merged and. in 1994, Investor acquired Export-Invest. Investor AB. Accessed Oct.09.2018.
  35. ^ The Evolution of the Saab, Saab-Scania & SAAB Logos. Saab History. Accessed Occt.11.2018.
  36. ^ Eventful Eighties. Investor AB. Accessed Oct.11.2018.
  37. ^ Ownership over the years. Telefonaktiebolaget LM Ericsson. Accessed Oct.10.2018. See also Ericsson § Wallenberg era beginsWikipedia-W.svg