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SWEDEN. Inflight Service CEO Gustaf Ljunggren (pictured) has stepped down from his role, as funds managed by private equity firm Triton acquire a majority stake in the company.
As previously reported, Triton struck a deal with previous majority owner CapMan in December and the transaction was closed earlier this month. Ljunggren’s responsibilities will be taken over by long-time IT and HR Director Roland Bergh until a full-time replacement is found.
Triton Partner Lars Österberg said: “Inflight Service is a very dynamic company with strong market positions and an impressive customer offering. In addition, we foresee promising further potential in several areas.
“We are convinced that Inflight Service fits well into our investment portfolio and we are delighted to be able to support the work of Inflight Service’s skilled and dedicated management and employees. We are also pleased to be able to contribute to the continued success of the company.”
CapMan Partner Mats Gullbrandsson added: “The company is now ready for a new phase in its international expansion, and has good growth prospects going forward. We believe that Triton is a good owner for the company and will be able to take Inflight Service to the next level.”
About Triton
Triton is a leading private equity firm focusing on investments in the Nordic and German-speaking regions. Triton has more than €2.5 billion in available capital from Nordic and international investors. It has offices in Stockholm, Frankfurt and London and its investment focus includes businesses in the retail and consumer products sectors.
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