Hugo Tullberg Wengholm has been appointed as the new Head of M& A for Xpartners Samhällsbyggnad AB. Hugo has previously held several leading positions within M& A and business development, and has good experience in leading and implementing acquisitions through the entire M& A process. He most recently came from a role as CSO Strategy Manager with responsibility for M& A and business development group management at Layer Group AB, and before that for several years in leading roles within M& A at the listed Coor Service Management.

- I am really looking forward to becoming part of Xpartners and to working together with the entrepreneurs in the companies, the central team, and the owners, to contribute to the entire group's development and expansion. I really like the decentralized model in Xpartners, where the entrepreneurs who sell their companies become co-owners – it's a good basis for finding positive cooperation effects from being in the same boat. Retaining well-established brands after the acquisitions is also something that is close to my heart because I have seen how important it can be in a local market, says Hugo

Hugo will take up the new position as Head of M& A for Xpartners in August 2024. With Hugo's experience as an M& A advisor and M& A manager in several companies with strong growth, he knows what is required to create the conditions and opportunities for Xpartners to grow at a rapid pace of acquisition and to expand.

- Hugo has a background that shows a high drive and a strong business focus and experience in identifying and acquiring the type of profitable small and medium-sized companies of high quality that fit into Xpartner's platform. He will be an important addition to Xpartner's management with exactly the experience we need in the expansive phase we are in, says Olle Bertfelt, CEO of Xpartners.

Hugo has been active in M& A and expansion for most of his career and has held both operational and strategic roles over the past 10+ years. During his professional activities, Hugo has been involved in building up new businesses across the Nordic region and completed a large number of acquisitions, integrations and sales processes of companies.

- This assignment should be a lot of fun, and I feel both curious and humbled to get to know the entrepreneurs in the group and to take part in the great knowledge that the various companies possess. My task will be to lead the acquisition work together with the team and continue the fine expansion with several acquisitions of the best companies in the industry. The focus will simply be to look for and court profitable and sustainable companies with good leadership and a desire to develop - when you find it, it's a fantastic combination, says Hugo and continues:

- It's a very fun opportunity to be part of Xpartner's journey right after a professional owner like Axcel stepped in as a new main investor. I have seen from afar how Xpartners has already made several acquisitions of attractive companies and my focus will be to continue the strong expansion and support the group's continued development.

About XPartners

XPartners Samhällsbyggnad was founded in spring 2021, and currently includes 17 companies with a presence in large parts of Sweden. The group today generates approximately SEK 950 million in turnover and has approximately 600 employees. In April 2023, investment fund Axcel joined XPartners as a new capital-strong majority shareholder to support XPartners in driving growth, including by adding additional technology consulting companies to XPartners. In addition to Axcel, XPartners is primarily owned by former shareholders of the respective companies that make up XPartners.

www.xpartners.se