Ekonord joint owner of Bracke Forest - Bracke Group
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2010-06-14
Ekonord joint owner of Bracke Forest
Bracke Forest AB will receive up to 15 million SEK through a new share issue to the venture capital company Ekonord.

Bracke Forest is a Swedish based company manufacturing and selling forestry equipment world wide . Currently they are planning to expand on several markets, for example Central Europe, Russia and in parts of Asia. The objective is to within a couple of years double the turnover to a minimum of 100 million SEK with good profitability. Hans Hemmingsson, the owner of Bracke Forest through Bracke Group AB, will remain as major share holder and Chairman of the Board.  Ekonord will however appoint a member of the Board for the company.

- Bracke Forest has many unique products and great possibilities to grow on a global basis, where the company today is already in some areas a world-leading player. When the question came up the first time we instinctively felt that the investment has a great profit potential and that the company is in line with our focus of investments in the green industries says Ekonord's Chairman of the board Pelle Åsling.

The major owner of Bracke Forest, Hans Hemmingsson, is content with the deal and considers the investment from Ekonord to give the company increased resources to reach out with their products on the international market.

- This gives us the possibility to take the next step in the development by doing a powerful market commitment in selected markets in Europe, North America and Asia.
- It is a very positive progress for us as a company but also for the municipality of Bräcke Kommun, where working opportunities will be secured for many years ahead says Hans Hemmingsson.


Facts about Bracke Forest: Bracke Forest is a manufacturing company located in Jämtland. They have manufactured forestry tools and machines since 1922.

Despite the company's small size, Bracke Forest is today an international leading company within the niches land preparation and mechanical forest planting. Bracke Forest is a company with a solid environment profile since the company's alignment is regenerating woods and forest care.The aggregates from Bracke are being used worldwide today.

A couple of years ago the company did a "new start" where the focus on development and growth was introduced.The turnover has between 2004-2009 gone from approx. 20 million Swedish crowns to approx. 45 million Swedish crowns. The main markets are Sweden, Finland and Canada. The company has approx 25 employees.

Ekonord Invest AB is a venture capital company investing in small to medium sized companies within the green industries containing soil, woods, gardens, tourism, renewable energy, environment technique, provisions and health. Econord is owned by LRF, E.ON, Sjätte AP-fonden, Sveaskog, Milko, ICA and Länsförsäkringar in Norrbotten Västerbotten, Jämtland and Västernorrland. The chairman of the board is Per Åsling.
 
 
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