Prestando
The company today
Prestando AB specializes in large-scale production and development of stamped, deep drawn, laser cut, welded and machined parts in thick, high tensile steel between 1 and 12 mm. The large part of production is devoted to the auto industry. Its customers are mainly in Sweden and Germany, where the company has 30 percent of its sales. Prestando also sells to France, Italy, the Czech Republic and Spain as well as the U.S. and China.
At 2,000 tons, Prestando’s largest press line can manufacture practically any metal object.
Industrifonden initially granted Prestando a loan of SEK 5.5 million in 1999. In 2003 the investment was increased to SEK 10 million at the same time that the loan was converted to an ownership stake.
“Our vision is to help Prestando grow its sales to upwards of SEK 300 million. We believe this is fully possible, since they have a unique manufacturing method that they skillfully manage,” said Sven Röjwall, Investment Manager at Industrifonden.
The group currently comprises a parent company and two operating subsidiaries. The original company, Prestando AB in Trelleborg, had a turnover of SEK 255 million in 2007, while OGO AB in Kalmar , which was acquired in 2006, generated SEK 109 million. Total revenues for 2007 amounted to SEK 364 million.
Background
Brothers Per-Olof and Håkan Jönsson have transformed their parents’ machine shop into a modern, export-oriented engineering company with unique technology. The brothers took over the company in the 1980’s and started developing their own tools to use in manufacturing car parts.
What did Industrifonden offer?
“We are very happy to have a new owner like Industrifonden. They not only strengthen our ownership base and financial resources, but also help the company in so many other ways,” said Per-Olof Jönsson, CEO of Prestando, when Industrifonden became an owner in 2003.
Next step
The Prestando group is forecasting sales of SEK 400 million in 2008. To be closer to customers in China , the company is building a new factory there. During the first quarter of 2008 it also opened a new factory in Trelleborg.
Future outlook
In the last ten years Prestando has increased its sales by an annual average of 15 percent while maintaining solid profits. The goal in the years ahead is to continue to grow at the same pace.