H.I.G. Capital Acquires Fågelviksgruppen, leading Nordic taxi technology and services company

Fågelviksgruppen (later renamed Cabonline), a Stockholm, Sweden-based group of companies providing taxi services in the Nordic region, announced getting into an agreement for selling the company to H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital.

Terms of the transaction were not disclosed.

Fågelviksgruppen, founded in 1989 and led by CEO Ole Oftedal, is an owner of taxi services brands including TaxiKurir, Taxi 020, Norgestaxi and Taxi Skåne, and a provider of taxi technology, brand affiliation and services to independent transporters. The business provides fare allocation and dispatch services to over 5,000 taxis across Sweden and Norway.

The company expects to reach nearly SEK 5bn turnover in the current financial year.

H.I.G. will partner with the existing management team which will benefit from H.I.G.’s operational, strategic and financial know-how as it continues to expand in the Nordic region. H.I.G. also has an extensive network across Europe which will help support FVG’s plans to further develop and capitalise on its market leading technology base.