The formation of the Olsson Eriksson fortune can be traced back to 1946, when Sten Allan Olsson bought his first vessel with a loan of $3000: The shipping business started on a small scale. In the 1960s Sten started a ferry service between Gothenburg and Skagen in northern Denmark. Over the years freight services using the company’s vessels became a significant part of the business. In 1972 the business was divided into two branches: Stena Line AB and Stena Metall AB. Over the years the company expanded its activities (e.g. real estate, drilling, private equity, etc.) to secure operations. Today Stena is mainly divided into Stena AB (ferry, drilling, shipping, ship construction, real estate, private equity, treasury) and Stena Metall AB (trading steel, metals and oil; recycling of metals, paper, electronics, hazardous waste and chemicals). With revenues of $4.2 billion and 16,000 employees, the Stena AB Group is one of Sweden’s largest family-owned corporate groups. The group is owned by Dan Sten (51%), Stefan Sten (24.5%) and Madeleine Olsson Eriksson (24.5%). In 2018 Formica Capital, the single family office of the Olsson Eriksson Family, was founded. Formica is an investment company with a long-term investment perspective, driving performance under a strong sustainability agenda in both investment selection as well as in its active ownership model. Mainly mid-sized companies in the Nordic region with a strong purpose and a clear commitment to address global challenges are selected. An exemplary investment of Formica is Sierra Energy. The company is committed to innovation that leads to a zero waste future. Since 2004, Sierra Energy has focused on the development of FastOx® gasification, a technology that turns trash into energy without burning. Another excerpt of the portfolio is Orbital Systems, a company which develops an instant water recirculation system, saving water usage with up to 90% in current applications.

Key facts about the Formica Capital Single Family Office

  • Family: Olsson Eriksson
  • Estimated wealth: 6.8 billion dollars (cumulated)
  • Location: Gothenburg – Sweden
  • Investment Focus: Venture Capital, Private Equity: Mid-sized private & public companies, Impact Investing
  • Notable Investments or Holdings: cybercom, Sierra Energy
  • Website: https://www.formicacapital.se/
  • Executives: Olof Cato

Picture source: Andy Li

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Proventus is the life’s work of Robert Weil, one of Sweden’s most unorthodox investors. In 1969 with only 20 years, he started his first investment company Weilinvest which would later be renamed to Proventus. He and his company were an active driver of the professionalisation, internationalisation and improvement of transparency of the Swedish capital market. As an investment company they acquired in their 50 years of existence various companies. After the acquisition of the companies, they reformed and optimized them, held them and sold them later. Notable examples are the Swedish toy company BRIO, later sold to Ravensburger. In another transaction Weil acquired Götabanken (one of the most important financial actors in the Swedish finance system) and later sold it to SPP, Sweden’s largest insurance company. They also did a restructured PUMA in 1990, replacing the management and restructuring the company to later sell their shares to an American Investor. Robert Weil has outspoken political views against nationalism, antisemitism and supports several Jewish organisations worldwide, also comments on politics in the most important newspaper in Sweden, Dagens Nyheter.

The company structure of Proventus as of today is twofold. One part is comprised of Proventus Capital Partners which is an alternative banking institution, providing loans between 10 million and 100 million to mid-sized companies who are not able to raise equity for expansions and acquisitions. They invest in all sectors without a specific industry focus. Northern countries like Scandinavia, the British Isles and Germany are core countries for Soventus Capital Partners. The capital to make these investments comes from 5 funds which received capital from various pension funds and the mother company Proventus AB. The strategy is to provide a tool tackling deficits in the financial sector, where companies are left without adequate access to classical financial institutions and loans. The four funds combined comprise of capital around 20 billion euros for direct lending.

The second smaller branch is called Proventus Invest and operates in two ways. One branch of Proventus Invest operates as a hedge fund, doing opportunistic investments in mispriced companies in order to sell them in the short-medium term with a bonus. Second, the company focuses on longer-term investments in companies or asset around the Nordic region.

Key facts about the Proventus Single Family Office

  • Family: Robert Weil
  • Estimated wealth: EUR 500 mio.
  • Location: Stockholm, Sweden
  • Investment Focus: Real Estate, Private Equity, Capital Markets/Financial Products
  • Notable Investments or Holdings: Puma, Gotabanken, Kaefer, Meltwater
  • Website: http://www.proventus.se/

Picture source: Jon Flobrant

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Awilhelmsen has its roots in the shipping industry and was established by Anders Wilhelmsen in 1939. From there on, the company started various new ventures: co-founding the world’s second largest cruise operator Royal Caribbean Cruise Line, providing services for the oil industry and entering the real estate market. In 2000, the group was reorganized as a Family Office. Today there is still a strong focus on the shipping industry, but there are also investments in retail companies and stock markets.

Awilhelmsen Capital is part of our real estate single family office database.

Key facts about the Norwegian Single Family Office Awilhelmsen Capital

  • Family: Wilhelmsen
  • Estimated wealth: 3300
  • Location: Stockholm, Sweden
  • Investment Focus: Private Equity, Real Estate, Financial Markets
  • Notable Investments or Holdings: Royal Caribbean Cruises Ltd., Power International AS, Awilco AS
  • Website: https://www.awilhelmsen.no

Picture source: Arvid Malde

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Backstage is an active venture capital investor in Sweden and the Nordics as the Single Family Office of the Tilander family. After working as management consultant with Ernst & Young, Fredrik Tilander joined the family’s business in 2003. He now chairs the company and takes responsibility for numerous successful investments in the last years. Backstage often invests together with other investors in order to achieve the greatest possible effect. Besides the headquarter in Stockholm, Backstage has an office in Gothenburg.

Backstage is part of our venture capital single family offices database.

Key facts about the Tilander Single Family Office Backstage

  • Family: Tilander
  • Estimated wealth: n.a.
  • Location: Stockholm, Sweden
  • Investment Focus: Venture Capital (Nordic scale-up companies)
  • Notable Investments or Holdings: 24Storage, Truecaller, Gumbler, Kwiff, Varenne
  • Website: https://www.backstage.se

Picture source: Jon Flobrant

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