Bergs becomes a family-owned company again

Bergs Timber AB (Publ)

En ledande och utvecklande leverantör av hållbara träprodukter

Published Dec 12, 2023

Peter Nilsson, CEO, comments on Norvik´s takeover

During the autumn, our Icelandic principal owner Norvik has prepared and worked to acquire all of Bergs. After the acceptance period on the offer has now expired, we can state that the buyout has succeeded. This means that Bergs, after almost 40 years as a listed company, now returns to private ownership.

Personally, I think this is positive. Being listed on the stock exchange entails quite a lot of extra work and costs. At the stage that Bergs is in, we have not had the real benefit of the listing and our owners have also been partly locked in with their shares. I believe that the change is welcome, which is confirmed by the high proportion that accepted the offer.

My colleagues in the Stockholm office, Anders, Rickard, Johan, Lena and myself will continue the work as before. We will have more time for follow-up and to support and develop our companies. We will also actively look for new investments and acquisitions. At the same time, I want to be clear that our decentralised business model remains and the management of our subsidiaries continues to have full responsibility for day-to-day operations.

Our name, which we have proudly used for more than 100 years, will not change after the delisting from the stock exchange, which formally takes place on 21 December.

I have had the privilege of being Berg's CEO during 10 years. During this period, we have seen strong growth and a change in the Group's focus from sawmills to an increased degree of processing, primarily of wood raw materials. We are now continuing the work to shape Bergs to meet the future, where our products and services will have an obvious position in sustainable value chains for quality-conscious customers in many countries in construction, renovation and furniture manufacturing.

I look forward to continuing to lead our work and to meet our various stakeholders in different contexts in the future. Our ambition is to be an open and welcoming company with entrepreneurial ability. Bergs will both be seen, noticed and act offensively in this new environment.