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Who Really Owns Pierce Company?
Understanding company ownership is key to unlocking its strategic direction and future potential. In late 2024, a significant shift occurred for Pierce Group, a leading European e-commerce player in the motorcycle and snowmobile gear market. This change highlights the importance of knowing who controls the company and how it impacts its operations.
Founded in 2008, Pierce Group AB (publ), based in Stockholm, Sweden, operates popular online stores like 24MX and XLMOTO. The company's Pierce SWOT Analysis can help you understand their strengths and weaknesses. This exploration delves into the ownership evolution of Pierce Group, examining its founding, the influence of key investors, and the recent changes that have reshaped its control and governance. Knowing who owns Pierce Company is crucial for anyone interested in its trajectory.
Who Founded Pierce?
The story of the company began in 2008, when Daniel Petersen and Stefan Rönn established it. Their initial vision centered on the burgeoning European e-commerce market for motorcycles and snowmobiles. Although the exact equity split between the founders at the start isn't publicly available, their entrepreneurial spirit set the stage for the company's future.
In 2014, the private equity firm Procuritas partnered with the founders, acquiring Pierce AB. This early backing was a strategic move, recognizing the company's strong position in the Nordic market and its potential for expansion across Europe. This marked a significant step in the company's evolution, blending the founders' initial vision with professional investment and management.
Procuritas's involvement focused on professionalizing the company and driving growth. This included bringing in a new management team while the founders remained as shareholders. They implemented strategies to enter new markets, build a comprehensive product range, and enhance distribution capabilities. The partnership with Procuritas shows a structured approach to scaling the business, transitioning from founder-led operations to a more professionally managed entity, while still retaining founder involvement as shareholders.
Founders' Vision
Daniel Petersen and Stefan Rönn founded the company in 2008. Their primary focus was the European e-commerce market for motorcycles and snowmobiles. This early focus laid the foundation for the company's future growth.
Procuritas's Entry
Procuritas acquired Pierce AB in 2014. This investment was driven by the company's strong position in the Nordics. The goal was to expand across Europe.
Management Changes
A new management team was appointed during Procuritas's involvement. The founders remained as shareholders. This transition was part of a plan to professionalize operations.
Strategic Growth
Strategies included entering new markets and expanding product offerings. Distribution capabilities were also enhanced. These steps aimed to drive overall growth.
Founder Retention
The founders remained involved as shareholders. This ensured continuity and retained their expertise. It helped in scaling the business effectively.
Market Focus
The company focused on the European motorcycle and snowmobile e-commerce market. This niche focus allowed for specialized growth. The strategy proved successful.
The early ownership structure of the company highlights a strategic blend of entrepreneurial vision and professional investment. The founders' initial drive, coupled with Procuritas's backing, set the stage for the company's expansion. To learn more about the company's strategic direction, you can read about the Growth Strategy of Pierce.
Key Takeaways
The company's history shows a clear path from founder-led operations to a professionally managed structure. This transition was supported by strategic investments and management changes.
- The company was founded in 2008 by Daniel Petersen and Stefan Rönn.
- Procuritas invested in 2014, bringing in new management.
- The founders remained as shareholders throughout the transition.
- The company focused on the motorcycle and snowmobile e-commerce markets.
- The strategy aimed to expand across Europe.
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How Has Pierce’s Ownership Changed Over Time?
The ownership structure of the company, which went public on Nasdaq Stockholm in 2021, has seen significant changes. A key event was on November 29, 2024, when Procuritas divested its entire stake of 20,143,293 shares, approximately 25.1% of the company, to a select group of investors. This transaction, valued at around SEK 137 million, marked Procuritas's complete exit from its investment.
As of December 31, 2024, the major shareholders included Verdane, holding 29.5% of the shares, and Skandinaviska Enskilda Banken AB. The shareholder landscape continued to evolve, with Garn Invest increasing its ownership to 4.32 million shares, or 5.45% of the capital and votes, by May 28, 2025, becoming the third-largest owner. These shifts highlight a move from a significant private equity stake to a more varied institutional and strategic investor base. For more details, the company's annual report for 2024, available from March 21, 2025, provides further insights.
| Shareholder | Stake as of December 31, 2024 | Stake as of May 28, 2025 |
|---|---|---|
| Verdane | 29.5% | Not Available |
| Skandinaviska Enskilda Banken AB | Significant | Not Available |
| Garn Invest | Not Available | 5.45% |
Understanding the evolution of Pierce Company Ownership is crucial for investors. The changes in major shareholders reflect the company's growth and its appeal to different types of investors. For those interested in the broader Pierce Company structure and its competitive environment, further information can be found in the Competitors Landscape of Pierce.
Key Takeaways on Pierce Company Ownership
The ownership of the company has evolved since its IPO in 2021, with significant shifts in major shareholders.
- Procuritas exited its investment in late 2024.
- Verdane remains a major shareholder.
- Garn Invest increased its stake in early 2025.
- These changes indicate a shift in the investor base.
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Who Sits on Pierce’s Board?
The current board of directors of the Pierce Group includes a mix of representatives from major shareholders and independent members. As of May 20, 2025, Johannes Gadsbøll and Roger Sandberg were elected as new ordinary board members during the Annual General Meeting. Roger Sandberg holds 100,000 shares in the company. The composition of the board reflects the company's ownership structure and strategic direction.
Jacob Wiström, appointed by Verdane Freya XI Investments AB, chairs the Nomination Committee. Fabian Bengtsson, appointed by Siba Invest AB, and Eric Thysell, appointed by Investment AB Garnen, also serve on the Nomination Committee for the 2025 Annual General Meeting, with the Chair of the Board as an adjunct member. This structure ensures diverse perspectives and oversight in key governance functions.
| Board Member | Appointed By | Shareholding (as of May 20, 2025) |
|---|---|---|
| Johannes Gadsbøll | Elected at AGM | Not Specified |
| Roger Sandberg | Elected at AGM | 100,000 shares |
| Jacob Wiström | Verdane Freya XI Investments AB | Not Specified |
| Fabian Bengtsson | Siba Invest AB | Not Specified |
| Eric Thysell | Investment AB Garnen | Not Specified |
As of April 30, 2025, Pierce Group AB (publ) had a total of 81,349,100 shares. This includes 79,374,100 ordinary shares, each with one vote, and 1,975,000 series C shares, each with one-tenth of a vote. The total number of votes in the company is 79,571,600. Series C shares do not receive dividends. In April 2025, a directed issue of 1,025,000 series C shares was made to Nordic Issuing AB for the LTIP 2024/2027 performance-based share program. Understanding the share structure is crucial for assessing Revenue Streams & Business Model of Pierce and the distribution of voting power among shareholders.
Key Takeaways on Pierce Company Ownership
The board of directors includes representatives from major shareholders and independent members, ensuring a balance of interests.
- The Nomination Committee, composed of representatives from significant shareholders, plays a key role in governance.
- The share structure comprises ordinary and series C shares, affecting voting rights and dividend eligibility.
- The company's share structure and board composition are designed to support its strategic goals.
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What Recent Changes Have Shaped Pierce’s Ownership Landscape?
Over the past few years, the ownership structure of Pierce Group has undergone notable changes. A key development was the complete divestment of Procuritas's 25.1% stake in November 2024. This shift involved selling the shares to a limited number of investors, including Siba Invest AB. This change suggests a move from a private equity-led ownership to a more diverse base of strategic and institutional investors. In April 2025, the company issued 1,025,000 series C shares as part of its 2024/2027 performance-based share program, which could dilute ordinary shares by approximately 1.06% upon full issuance.
Industry trends often show increased institutional ownership and sometimes founder dilution over time. In the case of Pierce Group, the sale by Procuritas marks a natural evolution after a successful private equity investment and IPO. The company's latest annual report for 2024 was published on March 21, 2025. Pierce Group has also been focusing on streamlining its digital business with SCAYLE in 2024, aiming for global growth and a unified multi-brand platform. For more insights, you can read about the Marketing Strategy of Pierce. The company's financial performance in Q1 2025 showed net revenue increasing by 13% to SEK 401 million, despite a net loss of SEK 34 million for the period.
Ownership Evolution
The shift from private equity to a broader investor base indicates a maturing ownership structure. This change often occurs after an IPO, with institutional investors playing a larger role.
Share Program Impact
The performance-based share program can lead to a slight dilution of ordinary shares. This is a common practice to align management incentives with company performance.
Financial Performance
Despite a net loss, the increase in net revenue in Q1 2025 shows growth. This suggests the company is expanding its market reach.
Digital Business Focus
Streamlining the digital business with SCAYLE is a strategic move. It aims at global growth and a unified multi-brand platform.
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