Broviken new major owner in fast-growing NOX
The investment company Broviken becomes an owner in NOX Consulting, Sweden's fastest growing consultant broker. Broviken is acquiring 60 percent of the shares in NOX, which has a turnover of SEK 325 million and 5,000 senior consultants in its network.
“The gig economy is growing at a rapid pace, opening up many opportunities for NOX. Our paths have now crossed with Broviken, who will support the company on this exciting journey. Together, we will take NOX into the next phase of the company's development,” says NOX Consulting's CEO and founder Pernilla Ramslöv.
NOX is a pioneer in the gig economy, catering to freelance IT consultants. NOX has succeeded in securing a leading position in the market through an advanced matching process where not only skills and experience, but also personality, are matched to assignments.
Broviken acquires 60 percent of the shares in NOX Consulting. Founder Pernilla Ramslöv remains as CEO and owner of the remaining 40 percent of the shares.
“NOX Consulting is a genuinely interesting growth case. We liked the company the very first time we met them, and this feels like a perfect match based on our values and ambitions. There is tremendous expansion potential within the service sector. I believe that with our experience, we can support and accelerate NOX's growth journey,” says Per Granath, Partner and CEO of Broviken.
With 5,000 freelance IT consultants, such as project managers, developers, and IT architects, NOX has a strong position, primarily within the banking, finance, and insurance industries. The company has grown rapidly. Between 2016 and 2018, turnover increased by nearly 45 percent to SEK 325 million.
“In order to strengthen NOX's position, we will look over time at broadening our consultant offering to include other qualified consultancy services beyond IT, as well as geographic expansion,” says Pernilla Ramslöv. In March 2019, Pernilla Ramslöv was named the Most Powerful Entrepreneur in Business by the magazine Veckans Affärer, and in November she was named CEO of the Year by the leadership site Motivation.se.
Broviken, founded in 2018, invests in Swedish service companies led by strong entrepreneurs and management teams. The company's CEO, Per Granath, is the former CEO of Humana; during his tenure, the care company grew from SEK 375 million to SEK 5.6 billion and was listed on the stock exchange in 2016.
About NOX Consulting
NOX is Stockholm's leading IT consultant broker. We have built Stockholm's strongest network of IT expertise, consisting of 5,000 senior consultants. We distinguish ourselves from the traditional consultant broker through our focus on relationships, our ability to create added value for our clients, and by offering an innovative community for the self-employed. As a result, we currently have the privilege of assisting 120 clients with their diverse expertise needs. NOX has a turnover of approximately SEK 325 million and is one of the fastest growing companies in the IT consulting industry.
About us
Broviken invests in Swedish companies within the services sector driven by strong entrepreneurs and management teams. Broviken's partners themselves possess many years of experience in business development across executive, ownership, and board-level roles. Broviken's focus is on developing businesses and helping already high-performing companies become even better and achieve their full potential. For further information, read more here!