- Advertisement -
- Advertisement -

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

- 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

Leveraging Opportunities in Credit Markets

Stockholm (HedgeNordic) – After several years of successful bond investing through a private investment company, Nicolai Wenckheim launched an alternative investment fund in March...

ATP’s Response to Changing Equity-Bond Correlations

Stockholm (HedgeNordic) – In 2022, the usual negative correlation between equities and bonds, essential for the construction of diversified portfolios, disappeared. This rare anomaly,...

Evolution in Hedge Fund Investing with LGT Collaboration

Stockholm (HedgeNordic) – Since Peter Ragnarsson assumed the role of Head of Alternatives at PRI Pensionsgaranti in 2015, the Swedish pension insurer has significantly...

Borea Expands Sustainability Focus with New Hire

Stockholm (HedgeNordic) – Norwegian fund boutique Borea Asset Management has expanded its management team with the hiring of Iselin Ahmer Solberg as a corporate...

Schroders Strengthens Nordic Client Team

Stockholm (HedgeNordic) – Schroders is expanding its client relationship capabilities in the Nordics with the appointment of Ludvig Löfving as a Client Director. He...

The Lynx Constellation Is Brightening Up

Stockholm (HedgeNordic) – Lynx Asset Management made headlines in late 2019 with the launch of its pure-play machine learning strategy, Constellation, as a standalone...

Allocator Interviews

Latest Articles

Man Institute Insights


Request for Proposal

- Advertisement -