- Advertisement -
- Advertisement -

Related

Adrigo Seizes “Great Opportunity” to Buy More of Maven Wireless

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – Last week, two Swedish hedge fund boutiques, Adrigo Asset Management and Origo Fonder, agreed to acquire 750,000 shares in Maven Wireless, a Swedish producer of wireless telecommunication equipment. This transaction involved purchasing approximately 15 percent of the CEO’s stake in Maven Wireless through a direct deal. Staffan Östlin of Adrigo, who had already started buying shares in the relatively unknown stock back in November, notes that the CEO’s decision to sell a portion of his stake for tax reasons “was a great opportunity to accumulate more shares.”

Maven Wireless Sweden is a technology company based in Sweden, focusing on the development and sale of systems for indoor and tunnel coverage for public mobile systems and critical communications. Östlin, who runs a stock-picking hedge fund seeking opportunities in the Nordic small- and mid-cap segment, first met with Maven’s management back in August and started buying shares in November.

“Maven Wireless is an unknown stock among most small-cap investors.”

“Maven Wireless is an unknown stock among most small-cap investors,” says Östlin. “Still, it is a company early in its growth phase with very good prospects to become a large global player and it is probably just a matter of time before more investors discover the stock,” he emphasizes. “The need to improve wireless coverage indoors and in tunnels is vast and growing and the company and its founders have a very good track record.”

“Still, it is a company early in its growth phase with very good prospects to become a large global player and it is probably just a matter of time before more investors discover the stock.”

Maven Wireless has a “highly competitive product portfolio,” according to Östlin, with the company managing to secure contracts with several large international clients within a short span. The company’s sales grew by 126 percent year-over-year in 2022, and by 102 percent in the latest quarter relative to the same quarter of last year, points out Östlin. “The company is profitable, with a 21 percent EBIT margin in the third quarter, and there should be potential for margin improvements in the coming years.”

“Moreover, management and founders really have skin in the game. These are characteristics we like when we invest,” emphasizes  Östlin. Despite selling 15 percent of his stake to Adrigo and Origo, CEO Fredrik Ekström retains ownership of 4 million shares in the company, equivalent to 7.7 percent of the group. “I am happy that both Adrigo Asset Management and Origo Fonder have chosen to invest in Maven Wireless. This transaction has become possible because I chose to sell a smaller part of my shareholding in Maven Wireless Sweden AB,” says Fredrik Ekström. In a press release, Ekström clarifies that the sale was made for personal financial reasons related to covering tax costs and affirms his strong belief in Maven Wireless Sweden’s potential for continued growth in the global market for indoor coverage.

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest Articles

Beyond Renewables: Coeli Fund Taps Into the Broader Electrification Race

Earlier this year, portfolio managers Vidar Kalvoy and Joel Etzler renamed their fund from Coeli Renewable Opportunities to Coeli Energy Opportunities – a move...

Three Danish Hedge Funds Recognized by the Hedge Fund Journal

Three Danish hedge funds have been recognized at the 2025 Hedge Fund Journal CTA and Discretionary Trader Awards. Two funds managed by Danske Bank...

Private Equity in Transition: Challenges and Opportunities

Private equity has matured into a mainstream – if not cornerstone – allocation for institutional investors. Following years of record fundraising and valuation expansion,...

Formue Highlights Private Credit’s Role in New Economic Era

Nordic wealth manager Formue has long prided itself on delivering institutional-grade investment solutions to high-net-worth individuals. As global economic conditions shift, Formue sees an important role...

Chelonia Select Builds on Solid 2024

Stock-picking hedge fund Chelonia Select is off to a strong start in 2025 with an 8.3 percent gain through the end of May, building...

CABA Capital Expands the Flex Series

Danish fixed-income boutique CABA Capital has launched the third vintage of its leveraged, closed-end fixed income strategy: CABA Flex3. The fund aims to deliver...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.