Company founder, Per Frode, to remain as minority owner of the company
JCE Group, a privately owned, diversified investment company based in Gothenburg, has acquired Baltic Safety Products AB, a European leader in life jackets and marine safety equipment. The company’s founder, Per Frode, will remain as minority owner of the company.
Baltic Safety Products AB, founded in 1977, is a leading player in the quality segment of life jackets and marine safety equipment in Europe, and has a dominant position in the Nordic market.
“Since its inception in 1977, Baltic has been successfully developed by Per Frode to become a market leader in the Nordic region within the premium segment, a stable market share and fantastic product portfolio. The ambition now is to continue to grow our business in Europe and the world together with Per Frode and new CEO Johan Lövqvist”, says Carl Backman, CEO of JCE Group.
“It is exciting to announce that Baltic will get a new majority owner in JCE in combination with a new CEO in Johan Lövqvist. The new management and the current organization together with a long-term and financially strong owner creates great opportunities for further development of Baltic ”, says Per Frode, outgoing CEO and founder of Baltic.
In connection with the acquisition, Johan Lövqvist will take over as CEO of Baltic.Lövqvist has a long and broad experience of leading positions in the retail sector. He most recently came from the CEO post for the Tenson Group where he reportedly tripled the company’s turnover with improved profitability.
“This is a very great assignment that I look forward to very much. To have the opportunity to develop Baltic and its strong brand further together with fantastic employees and new owners will be very exciting,” says Johan Lövqvist.