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Formica Capital new main owner of Cybercom
The Olsson Eriksson family’s newly-started investment company Formica Capital acquires 51% of shares in Cybercom.
Cybercom has been in private ownership since 2015, when JCE Group and Tequity bought out the company from the stock exchange. With growth of more than 30% and three times the profit, the company has developed well over the past three years. In 2018, Cybercom's sales amounted to SEK 1,678 million and profit to SEK 162 million. The EBIT margin was 9.7%. Cybercom had positive net recruitment of 2.3% in 2018, and a total of 1,290 employees, in addition to engaging 500 partners in various projects. Formica Capital becomes the majority shareholder in the new ownership structure, with 51% of the shares. JCE Group owns 41%, Tequity around 6% and CEO Niklas Flyborg around 2%.
“This will be Formica’s first strategic investment. Cybercom’s clear positioning in digitalisation and sustainability is crucial as the Olsson Eriksson family is looking for companies that want to use technology to help solve global challenges,” says Olof Cato, CEO Formica Capital.
“We want to continue to build Cybercom’s brand, and focus even more on sustainable business. We also want to look at complementary acquisitions,” Olof Cato continues.
Formica Capital was formed in 2018 and aims to make impact investments in which social benefits are important in addition to the yield. Formica Capital is owned by the Olsson Eriksson family and is the result of the family’s sale of its holding in Stena Sessan AB.
“This is an affirmation of strength for all of us who work at Cybercom. It feels extremely gratifying that Formica is making such a large investment in us and in the strategy we have put into place for 2019-2021. Agenda 2030 is important to us, and we strive for net positivity with our focus on connectivity, innovation and sustainability,” says Niklas Flyborg, CEO Cybercom Group.
“Together with our clients, we employ technology to strengthen business, and we try to create a positive impact on the global goals. Our Digital Sustainability advisory service has great potential. We have put in place a growth plan of 30% over three years, primarily through IT security and cloud services. I would like to see us complementing this with interesting acquisitions,” says Niklas Flyborg.
Cybercom enables companies and organisations to benefit from the opportunities of the connected world. The company provides innovative and sustainable solutions by combining technical edge and strong business insight. Cybercom was founded in 1995. The company has provided sustainability reporting since 2010 and joined the UN Global Compact in 2011. Today, the company leads the digitalisation consultants’ Roadmap for Fossil-Free Sweden. The company was listed on the stock exchange from 1999 until 2015.
Important events during 2018
- Cybercom announced a strategic collaboration with Amazon Web Services in Nordics
- Agreement signed with Finnish cooperative SOK covering cloud services for maintenance and development of the AWS cloud platform and development of new cloud-compatible apps
- New framework agreements signed with Finnish public procurement authority and Ministry of Agriculture and Forestry
- Cybercom expanded number of agile teams for 5G development at Ericsson
- Cybercom provided advisory services to the West Sweden Chamber of Commerce
- Cybercom received Volvo Car Group’s Quality Excellence Award
- Cybercom received expanded mandate from Swedish Tax Agency and Swedish Public Employment Service
- Cybercom’s OsCar autonomous car software successfully developed, with interest from leading automotive manufacturers in Europe
- Cybercom divested its own data centres in Finland
- Cybercom was a founding partner of Women in Tech
- Cybercom was a founding partner of Hello World!
- Cybercom’s e-signature service grew in public sector
- Cybercom invited all co-workers to share their expertise at its own innovation expo in a summit to celebrate the company’s success
For further information, please contact:
Niklas Flyborg, President and CEO +46 70 594 96 78
Olof Cato, CEO Formica Capital +46 70 926 66 55
Carl Backman, CEO JCE Group +46 703 97 90 05
Kristina Cato, Head of Sustainability and Communications +46 70 864 47 02
Cybercom is an innovative IT consulting firm that enables leading companies and organisations to benefit from the opportunities of digitalisation. We provide innovative, secure and sustainable solutions in IT and communications technology by combining technical edge and strong business insight. This applies whether the issue is transforming products into services, developing new business models or helping the public sector get closer to citizens. We are found where technology and strategic business development meet. We think big. We test, learn and adapt. The single objective is for our clients to succeed in the connected world. This is how we are making tomorrow, today. We are a highly diverse company, with a large age range, 44 nationalities and assignments in 21 countries. We are creating the world of tomorrow in unison, we are creative, fearless and inquisitive – always ready to challenge the status quo. We turn our words into action and empower change. We are the #Makers of tomorrow. Cybercom’s domestic markets are the Nordic region and Poland, and in addition the company offers global delivery capacity for local and international business. www.cybercom.com
About Formica Capital
Formica Capital is a Swedish investment company with a long-term ownership strategy, owned by the Olsson Eriksson family. Formica Capital creates value growth by being an active owner in profitable and long-term sustainable companies that have a positive impact on society as a whole. www.formicacapital.se External link.
About JCE Group
JCE Group is a privately owned, diversified investment company based in Gothenburg. JCE has a strong history of creating successful companies since it started in 1971 and today, through its holdings, has over 4,000 employees around the world. JCE invests in both listed and unlisted companies and has a broad investment portfolio with companies including IT services, software and manufacturing. www.jcegroup.se External link.
Tequity is a private technology investor in IoT and energy efficiency, committed to take established companies with international growth potential to the next level. Tequity is owned by the entrepreneur Nicolas Hassbjer, founder of HMS Networks. www.tequity.se External link.
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