Sweden’s Ratos announces new CEO
Ratos, the Swedish listed private equity company, has announced Magnus Agervald as its new CEO after he left the DIY and construction supplies company Byggmax, where he also was CEO.
Agervald was in his previous role for a decade. At Ratos he will oversee one of the Nordic region’s biggest private equity investors in SMEs, which has a history going back over 150 years.
The appointment to Ratos represents a return of sorts to the private equity sphere for Agervald: before Byggmax, he was a consultant at McKinsey & Company, an investment manager at Nordic private equity firm IDI, and founder of Icomera, a mobile internet company.
Jonas Wiström, chairman of the Ratos board, said Agervald “possesses solid operational experience of investment operations and has led companies undergoing strong growth and rapid change. Magnus’s leadership is precisely what Ratos needs in the continued implementation of our strategy.”
Ratos’ acting CEO Lars Johansson is set to return to his role as investment director.
The company reported in its 2015 results that it owned 19 companies across the Nordic region, with combined annual sales of SEK32bn (€3.4bn).