According to Segulah, the company has acquired 8.5m shares, about 98% of the company’s stock, at an offer price of SEK 185 per share, for a total cost of SEK 1.57bn (EUR 156m). All four largest shareholders of Gunnebo Industries, who together controlled 58% of the stock, agreed to the offer.

Segulah bought the shares in August, and Gunnebo delisted on October 1.

Gunnebo made net sales of SEK 967m (EUR 96.5m) in the January to May 2008 trading period, up 14.5% on the same period last year.

“You can run the company more effectively if you do not have to have in mind a quarterly report and the stock exchange,” Tobias Buelow, Gunnebo Industries group communications director. “It is a common idea. I am sure that Gunnebo Industries will benefit.”

Other Segulah-owned companies include precast concrete maker Nordform, hydraulics/pneumatics firm Dacke, stapler manufacturer Isaberg Rapid, as well as consumer car care brand Kemetyl and catering brands Exotic Snacks and Almondy.

Gunnebo Industries will was divested from former parent Gunnebo AB in 2005 to focus on safety products.