Trainor acquires Teknikutbildarna in Sweden
Headquartered in Tønsberg, this acquisition will enhance Trainor’s position as a leading player in electrical safety training in Scandinavia and give the Swedish market a boost in digital training.
As part of Trainor’s ambitious growth plans, the deal will give the company total turnover of around NOK 130 million, and over 80 employees. Trainor, which is owned by its employees and global impact investor, EV Private Equity, is transforming the standard of electrical safety training through digitalisation.
Teknikutbildarna has a strong track record in the Swedish education market, both with traditional teaching and e-learning. With offices in Sundsvall, Gävle and Stockholm, the company is one of Sweden’s largest education companies, and also operates its own electrical school activities.
Teknikutbildarna was established by Lennart Bølin and Bernt Bergvall in 1999, who have together built a prominent position for the company in Sweden. In connection with the transaction, Lennart and Bernt will leave the management of the company to new CEO Jens Albrigtsen who joined in 2020 as part of a planned “generational change”.
Commenting on the acquisition, Peter Svarrer, Chairman of the Board of Trainor said:
“With this acquisition, Trainor will accelerate the development of digital training in the Swedish electric safety market. The combination of the two companies will form the base for future geographical expansion in and outside Scandinavia.
“The solid professional expertise that Teknikutbildarna and Trainor have built up over many years will be used to advance the training of the future, will offer a stronger delivery platform to a broader customer base.
“For Trainor, it is important to us that our growth is consistent with our sustainability goals. Electrification and e-learning are two megatrends that will be key to a greener and safer society. Like EV Private Equity, Trainor is driven by its commitment to Environmental, Social and Governance (ESG) factors, and digital training is an important part of reducing the environmental footprint of the training industry.”
Trainor recorded a turnover of NOK 75 million in 2020, has 53 employees, over 80,000 annual course participants, and 300,000 active users on its online discussion forum, offering a broad portfolio of digital courses, webinars and e-learning content. The company uses 3D, cinematics, storytelling techniques and gaming technology in its e-learning courses, enriching user experience to allow for better learning.
Stian Martinsen, CEO of Trainor, welcomed the acquisition:
“We have been observing Teknikutbildarna for quite some time, and see that its business, culture and philosophy are aligned with Trainor’s. Teknikutbildarna’s employees will integrate with Trainor’s, increasing our expertise and impact, and together we will consolidate our position as an important supplier for quality safety training in Scandinavia. Teknikutbildarna has deep connection to academia, and is prepared to take its digital course offering to the next level in Sweden.
“COVID has shown that training providers must be able to adapt products and services quickly and efficiently to safeguard critical industries, applying digital methods of learning to advance training even from remote locations. So far this year, both companies have delivered very strong growth in e-learning, combined with good profitability.
“Now integrated to form a powerhouse of digital e-learning, Trainor and Teknikutbildarna will be able to respond even faster to customers’ needs for new products and delivery methods of training.”
Tomas Hvamb, Director at EV Private Equity, said:
“As an impact investor focused on advancing the technologies that will be critical to the energy transition, the acquisition of Teknikutbildarna is in line with our investment strategy for Trainor, now on track to become Scandinavia’s leading provider of digital electricity safety training. The company is experiencing strong organic growth, and we see great potential to offer Trainor’s cutting-edge e-learning content to the Swedish market.”
Bernt Bergvall, Chief Operations Officer of Teknikutbildarna said:
“With myself and Lennart approaching retirement, we have been thinking about finding a new home for Teknikutbildarna for some time. We decided that Trainor would be an excellent match, both for our school and classroom activities, and to strengthen our digital training across all our services. Becoming part of Trainor will be very positive for our employees and our customers.”
Explore why we invested in Trainor, and our growth plans for the company here.