Karnell Group AB, the Sweden based private equity firm, has acquired OJOP Sweden AB, the Sweden based producer of toggle latches, trailer latches, and battery connectors, from Anders Larsson, owner and CEO of the company. Karnell has acquired 90.1% of the shares with an option to acquire the remaining shares in the company. Additionally, Karnell has committed to a performance-based earnout, contingent on the 2024 and 2025 performance of Ojop. The current owner and CEO, Anders Larsson, will remain with 9.9% of the shares in OJOP and will continue as CEO until a permanent CEO is found. Ojop will be part of Karnells business area Product Companies.
- Target – Ojop Sweden AB
- Buyer – Karnell Group Ab (publ)
- Seller – Anders Larsson (private investor)
