We are a Serial Refiner
For us, “Refine” means verifying the implemented improvements every day – in ways of working, processes, organisations and customer relationships.
We have been performing electrical installations for over 115 years.
Our Roots – More Than 20 Years of Experience in Refining Companies
M Refine Group has its origins in M Industrial Invest, founded in 2003. Over more than two decades, experience was gained in acquiring and developing businesses across a range of industries. From this experience grew the ambition to systematise methods, governance and expertise into a scalable model for serial refining of companies.
Our Development
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More Than 20 Years of Experience
M Refine Group builds on more than 20 years of experience in identifying, acquiring and developing companies facing challenging situations. This experience has been systematised into The Refinement Model – a step-by-step approach to transformation, governance, business development and financial discipline across acquired businesses.
02
From Experience to a Scalable Model
Over time, the ambition grew to make refining of companies scalable. The goal became to build a structure in which acquisition methodology, governance and specialist expertise can be applied across multiple business areas in parallel, while local management teams progressively assume greater operational responsibility.
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M Refine Group Is Formed
M Refine Group was established as a dedicated platform for acquiring, transforming and developing B2B companies facing challenging situations. It brought together experience, methodology and specialist expertise within a structure designed for long-term value creation and scalability.
04
The Beginning of the Scalable Model
On 14 August 2024, M Refine Group acquired eight business areas from Storskogen. The acquisition provided the operational foundation and business volume needed to establish the scalable platform on which the Group’s business model is built.
Acquisition Criteria and Principles
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We are sector-agnostic and focus on B2B companies.
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We acquire businesses where we believe our expertise and The Refinement Model can be effectively applied.
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We seek a controlling interest to enable us to implement the necessary changes.
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Our financial priorities are cash flow, followed by margin expansion and growth.
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The development process is primarily driven by business development, complemented by cost optimisation based on the specific circumstances of each company.
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For new business areas, our geographical focus is the Nordic countries and Germany. Add-on acquisitions within existing business areas may be pursued without the same geographical limitation.
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Add-on acquisitions within existing business areas may also include well-performing businesses where they strengthen the strategic position or support margin expansion.
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We look for businesses that are historically profitable, have established customer relationships and underlying commercial relevance.
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The company does not need to be insolvent; what matters is that it faces a challenging situation where a new ownership environment can create better conditions for the business.
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We take over businesses with respect for their history, customer relationships and brand – and with a clear focus on implementing improvements.