Karnell Group AB (publ) has acquired flex7 Ltd, a UK-based designer and manufacturer of modular lighting connection and control systems for commercial and public buildings. The company generates annual revenues of approximately GBP 9 million with strong profitability.
Founded in 1998 and headquartered in Twyford, UK, flex7 has established a leading position in a specialised segment of the electrical installation market. Its modular, plug-and-play systems enable faster installation, increased flexibility and improved energy efficiency, making them a preferred choice for many electrical installers. Over time, this has resulted in a strong brand and a loyal customer base, creating installer-driven demand across the UK.
flex7's end markets are well diversified, with a significant share of sales linked to publicly funded segments such as education, healthcare and other public buildings, complemented by exposure to offices, retail and hospitality. This provides a stable and resilient demand profile.
flex7 represents a typical Karnell company: a niche, profitable business with a strong market position, combining a recognised brand with long-standing customer relationships and a product offering that delivers clear customer value. The acquisition marks a transition from founder ownership to long-term industrial ownership, with Karnell acquiring the company from its co-founder, who have built flex7 over more than two decades into a well-positioned and profitable business.
"flex7 has been built with a clear focus on delivering simple, reliable solutions and building long-term customer relationships. We are proud of the position the company holds today, and are glad to have found a new long-term owner who understands our business and shares our values," says Steve Garton, co-founder of flex7.
The current Managing Director, Paul Bellamy, who has been with the company for nearly two decades, will continue in his role, ensuring continuity and long-term alignment going forward.
"flex7 has a strong platform with a loyal customer base and a recognised brand in our niche. Becoming part of Karnell allows us to continue developing the business with a long-term perspective while maintaining our entrepreneurial culture and close relationships with customers," says Paul Bellamy, Managing Director of flex7.
"flex7 is a high-quality niche business with a strong market position, a recognised brand and a loyal customer base. The company fits well with our Product Companies business area and benefits from structural demand driven by energy-efficient and smart buildings. We look forward to supporting flex7 in its continued development," says Petter Moldenius, CEO of Karnell.
Karnell acquires 98% of the shares in flex7 Ltd, with the remaining 2% retained by the Managing Director. flex7 will be consolidated into Karnell's Product Companies business area.
For further information, please contact:
Petter Moldenius, CEO
Karnell Group AB (publ)
Phone: +46 8 545 891 00
or visit our website: www.karnell.se
About Us
Karnell is a growth-oriented industrial technology group that acquires and develops small and medium-sized product companies and niche-producing companies through a systematic and proactive acquisition strategy. With an eternal ownership horizon and decentralized decision-making model, Karnell provides entrepreneurs and family-owned businesses with a long-term and responsible partner. The company's business concept is to identify and acquire companies with an attractive financial profile and develop these businesses by leveraging the group's tools and expertise. The group consists of 20 companies in Sweden, Finland, the United Kingdom and Italy. Karnell is listed on Nasdaq Stockholm.
Image Attachments
PM Flex7
