Litorina buys up Fresks Group.

Litorina, a Stockholm, Sweden-based private equity firm, announced it will be the new majority owner of Fresks, a leading Swedish building material chain in Northern Sweden.

The deal, which has the financial details undisclosed, was made through Litorina IV fund. The Oscarson Family and the CEO, previous owners of Fresks, will retain a significant ownership together with Litorina and management.

Fresks, founded in 1862 and led by CEO Leif Lindholm, is a leading Swedish building material retail chain in Northern Sweden focused on the professional segment. The company has 12 stores under the brand XL BYGG Fresks and Gärdin & Pärsson. The company had sales of SEK 875M ($100M) through its 12 stores and has shown solid growth with increased profitability

In 2014 Fresks bought Gärdin & Persson further strengthening the company’s presence in Northern Sweden. Fresks sells high quality building material products with a high degree of service primarily to small and mid-sized professional customers. The company also offers ordering and sales online, as well as full installation service. Today. Fresks is the largest member of the purchasing organization Byggtrygg with the brand name XL BYGG.