Oscar Arvidsson and Robert Andresen
Oscar Arvidsson and Robert Andresen became partners in 2011 when they were offered the opportunity to buy the company Mastervolt by its previous owner, where they were employed. At the time of the takeover, the company was considerably smaller and primarily focused on the marine industry, which unfortunately experienced a downturn shortly after the acquisition. The timing could not have been worse, which is not something you wish for when you've taken over a business.
"As new owners of a company losing sales in a declining market, you think, 'Darn it,' but it was a learning experience. We had to move quickly, enter new markets, and learn how to deal with banks that were far from flexible in the situation," says Oscar Arvidsson.
The partners realized that the company needed more diversified revenue streams to reduce its dependence on the marine sector. They primarily focused on the growing market for electrification of vehicles, which aligned with Mastervolt's expertise in power supply and batteries. The wave of electric vehicles that followed made this strategy successful, and the marine sector also regained momentum, leading the company to experience strong growth since then.
The partners set high standards for their new company, aiming to deliver high-quality products with top-notch service and support. This placed significant demands on the entire team, and to succeed, the partners clearly divided their respective responsibilities to focus their time and energy on specific areas. Oscar Arvidsson took charge of sales and customer relations in the field, while Robert Andresen was responsible for the operational aspects.
"As owners, we have great confidence in each other and our respective responsibilities. We've always run the company with a low ego and a willingness to help each other, for example, when it comes to packing products in the warehouse," says Oscar Arvidsson.
As the company continued to grow, it engaged in larger transactions with bigger customers. With these came responsibilities and risks that the company lacked the financial strength to handle on its own. The need to bring in new owners to support further growth became increasingly apparent. Once these thoughts started taking shape, the owners contacted AHL Partners, and the decision was made to actively seek new owners for the company. However, Oscar Arvidsson and Robert Andresen wanted to remain involved in the company.
The owners evaluated other financial advisors before choosing AHL Partners to execute the transaction and find new owners for Mastervolt.
"We simply developed a good connection with AHL Partners, and we felt that we wanted to go with them. AHL Partners provided a personal touch and were very credible as advisors," explains Oscar Arvidsson.
The transaction was completed in early 2023, with KAMIC Group AB acquiring all the shares in Mastervolt. With the assistance of AHL Partners, Oscar Arvidsson and Robert Andresen found the right buyer who could provide the company with the financial strength to continue growing. KAMIC Group also brought other important resources to the table.
"Beyond the price of the transaction, we were also looking for a new owner who could provide us with the financial strength to grow with our customers and offer support in our continued expansion," Oscar Arvidsson adds.
The previous owners are very satisfied with how AHL Partners handled the transaction and believe that it's essential to have experts to navigate through the entire process.
"We got everything we intended to in our collaboration with AHL Partners. It's important to have an advisor who can explain what different options entail. Price is one thing, but the structure is often complex to understand. If we were to do it all over again, we wouldn't do it any differently," remarks Oscar Arvidsson.
For others embarking on a similar journey, the advice is to have your company in order before starting the process and seek the help of a financial advisor.