One of the world’s largest modular housing manufacturers has a new owner following Skanska’s sale of its stake in BoKlok, a joint venture with IKEA.
Wood Central has learned that Skanska, a major global contractor, sold its share in the Byggsystem modular housing factory to Surewood Housing AB, a subsidiary of Gelba and Active Invest, for SEK 110 million (approximately US $10.3 million).
The transaction, which took place last Thursday, follows Skanska’s 2017 investment of over SEK 250 million (roughly US $23.43 million) to increase production capacity by more than 50%. This investment aimed to produce 14,000 affordable timber-framed homes across Sweden, Finland, Norway and the UK.
However, despite these investments, economic challenges—such as inflation and rising interest rates—have contributed to a downturn in the residential construction sector in Sweden and Europe. As a result, BoKlok has experienced financial difficulties, posting an operating loss of SEK 614 million (US $57.3 million) in 2024.
The acquisition occurs amid a housing crisis in Sweden, where half of the municipalities are facing severe shortages. In response, Surewood plans to ramp up production to help meet the country’s demand for 52,000 new homes. “This acquisition is a natural next step that will allow us to offer homes produced in a state-of-the-art facility in Gullringen to customers nationwide,” said Leif West, Chairman of Surewood Housing Holdings.
Original source: Wood Central
