Erik Johnson takes over as CEO of Ascenco Group
In less than three years, Ascenco Group has gone from a carve-out of a larger operation to a Nordic group with just over 13,000 elevators, industrial doors and gates, and escalators under service and revenue exceeding SEK 400 million. Now Erik Johnson – former chairman of the board of the group and with 20 years of experience in the elevator industry – is taking over as chief executive officer.
Erik Johnson took up the role of CEO of Ascenco Group on the first of August. He succeeds Erik Svensson, who has served as acting CEO since January and who continues in his role as CFO of the group.
From carve-out to Nordic challenger in under three years
Ascenco Group was founded in September 2023 with the ambition of becoming the most trusted partner for the safe and reliable operation of elevators and other critical infrastructure in the Nordics. The foundation was laid through the carve-out of Nordic Lift Tech, and since then the group has grown both organically and through acquisitions: Hiss-Craft in Norrland, Stockholms Hiss-Service, Heiskompaniet in Oslo, and most recently SJEC Danmark.
Today, Ascenco Group consists of five companies operating in Sweden, Norway, and Denmark, approximately 200 employees across more than ten locations, and over 13,000 units under service. Revenue exceeds SEK 400 million, and the group's stated goal is to reach SEK 600 million by 2028.
The model has been the same throughout: acquired companies keep their name, their local leadership, and their entrepreneurial spirit, while the group contributes long-term ownership, shared standards, and development opportunities.
A CEO who knows the industry from the inside
Erik Johnson has 20 years of experience in the elevator industry, including as CEO of KONE Norway. For the past two years, he has worked outside the industry as country manager for Sweden at a company in the corporate housing sector.
He has been chairman of the board of Ascenco Group and leaves that role upon taking up the position. Erik Johnson also joins the board of Hissförbundet (the Swedish Elevator Association).
"I've followed this company from the board and seen what has been built: strong local companies, technicians who know their craft, and customers who value our service and proximity. When the opportunity came up to step in operationally, I didn't need to think long. This is a very exciting industry that I'm glad to return to full-time, and I look forward to working together with Erik Svensson and Eric Bonfre in Ascenco's management team, and with the CEOs and teams in our companies," says Erik Johnson.
An industry undergoing change
The Nordic elevator stock is aging at the same time as demands for safety, accessibility, and uptime are increasing. The need for modernization is great, and digitalization is opening up new, more efficient ways of working, as in all industries. At the same time, a large portion of the industry's technicians are approaching retirement, making the supply of skilled talent one of the most important issues for all players.
In parallel, more and more property owners are seeking a real alternative to the major manufacturers – an independent partner that services all makes and offers freedom of choice without lock-in.
"There's clear room for a challenger in the Nordics. We are brand-independent, we are local, and we have fantastic technicians. It shows in the quality of what we deliver," says Erik Johnson.
What we're building in the coming years
Ascenco Group's ambition is to be the first choice for both customers and technicians in the locations where the group operates. Growth is set to continue both organically and through acquisitions of entrepreneur-led companies in the Nordics.
"We want to be the company that the industry's best technicians seek out, and the company that entrepreneurs want to join in order to take their businesses to the next level. We are continually looking for hungry and committed people who want to help build this further," says Erik Johnson.
"Erik knows both the industry and the company. He has helped shape Ascenco's strategy from the board and can step in and lead from day one. With his experience and drive, we have the right person for the next phase of the journey," says Falk Wahlström, Director at MVI.
Leadership
Erik Johnson joins a management team with Erik Svensson as CFO, who has over seven years of experience as a finance director and long experience in the real estate sector, and Eric Bonfre as Head of Business Development.
About Ascenco Group
Ascenco Group is a Nordic group of local companies within the servicing of critical infrastructure – elevators, industrial doors and gates, and escalators. The group provides service, maintenance, modernization, and new installation to residential properties, commercial properties, and public environments. Ascenco Group was founded in 2023 and today operates in Sweden, Norway, and Denmark. The company is owned by MVI. www.ascencogroup.com
About MVI
MVI is a Swedish private equity firm that invests in Nordic companies with clear development potential and builds further together with entrepreneurs and management teams. www.mvi.se
For more information, contact:
Erik Johnson, CEO, Ascenco Group
erik.johnson@ascencogroup.com | 076-829 44 04
