The Sixth AP Fund divests STT CONDIGI
The Sixth Swedish National Pension Fund (Sixth AP Fund) and the other shareholders in STT Condigi Holding AB have sold their holding to Tunstall Healthcare Group, a leading telecare and telehealth provider based in the UK.
STT Condigi, a leading provider of technology and services to the elderly home care and nursing home markets in the Nordic region, has businesses in Sweden, Denmark, Finland and Norway as well as a growing export division. The group has approximately 100 employees and annual sales of approximately SEK 250 million.
The Sixth AP fund held approximately 60% of STT Condigi at the time of its divestment. The Sixth AP Fund invests in unlisted companies, both indirectly through funds and through direct investments together with financial and industrial partners, primarily in Sweden and the rest of the Nordic region. The mission is to generate sustainable high yield and maintain satisfactory risk diversification by investing in the venture capital market.
The Sixth AP Fund was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Clas Nyberg, primarily assisted by Per Åsbrink and Rickard Fredén.