On May 5, 2022, MVI Fund II made its most recent platform investment, acquiring a significant percentage of the shares of SMP Parts ("SMP"), and becoming the company's controlling investor. MVI Equity has been a controlling investor in the Company since 2014, when it acquired the Company along with its investor network and Fouriertransform AB ("FTAB").
Founded in 1980, SMP is a leading, full-line supplier of excavator accessories (including tiltrotators, quick hitches and buckets). With production in Ilsbo, Sweden, SMP offers its customers an integrated solution for the ecosystem of smart accessories, with a strong position in the Nordic region and continuous international growth. Product features include a focus on flexibility and safety, with fast and safe switching between different tasks and attachments, while maximizing efficiency.
MVI sees this change in ownership as having the potential for accelerated value creation in the company. SMP has grown strongly during the management period, with the company's tiltrotator leading the growth at a double-digit annual growth rate. Today, the product category represents almost half of the company's turnover including its strong aftermarket.
Tiltrotators and hydraulic quick couplers are structurally growing given increasing automation in the construction industry, a greater focus on energy efficiency, and labour shortages. The segment is continuously expanding given growing international demand, and the company has started to review the possibility of electrifying relevant parts of the product range.
During its management, MVI has transformed SMP from a blacksmith's shop into a skilled, leading-edge, high-tech workshop. Since 2020, the company has been run by a highly competent management team with commercial capabilities that continuously develops the business proactively.
The management team is expected to take the company to new heights, and MVI looks forward to continuing to support SMP in its global growth journey, delivering smart solutions to critical infrastructure for the transition to sustainable societies.
For more information, please contact:
Daniel Nilsson, Partner
daniel.nilsson@mvi.se / +46 (0) 70 655 78 52
