Verest is Sareq's twelfth acquisition overall and its first in 2024. Following the acquisition, Sareq’s portfolio companies surpass one billion SEK in revenues with an EBIT margin exceeding 10%.
Drawing on its extensive experience in investing and adding value to entrepreneur-led businesses, Sareq has acquired a majority stake in Verest from Markus Karlsson, who remains CEO and shareholder of the company.
Verest specializes in manufacturing bioenergy products, primarily wood chips, supplied to commercial and municipal combined heat and power plants in southern Sweden. The company operates a complete value chain with its own machinery and employs 17 people based at its headquarters in Torsås, near Kalmar.
Production involves thinning, skidding, energy cutting, chipping, soil preparation machines, and wood chip transport vehicles. Since Markus Karlsson took over as CEO and second-generation owner in 2015, the company has invested in a highly efficient machinery fleet, making Verest a sought-after partner to both forest owners and heat and power plants. Over the past five years, Verest has grown by over 50% and generates approximately 70 million SEK in revenues with strong profitability.
"After taking over Verest from my father and uncle nearly ten years ago, together with my team, we have elevated the company to become a market leader in wood chipping in southeastern Sweden. To meet increasing demand from our customers, I sought a partner willing to invest alongside me and lead the company into the future. I'm delighted to have found this partner in Sareq."
- Markus Karlsson, CEO of Verest.
"We're incredibly impressed with Markus's leadership in taking Verest to new heights and establishing its esteemed reputation in the industry. Additionally, we are strong supporters of bioenergy from a sustainability perspective and we see potential for expanding geographically with their well-established business model. It is with great pleasure that we welcome Verest into the Sareq family."
- Joachim Palmé, CEO of Sareq.
About Sareq
Sareq is a privately owned investment company founded in 2018 with a strong entrepreneurial spirit and a passion for further developing already successful businesses. We work closely in partnership with the management teams of the companies we invest in, offering a long-term ownership perspective and contributing strategic and operational expertise including business development, project management, and change management. We actively seek new investment opportunities, primarily focusing on the Nordic market and market-leading, profitable, entrepreneur-owned niche companies with revenues ranging from 50 to 300 million SEK.