Hasko Invest new ownership partner in do88 AB, a leading specialist in auto accessories
do88 enhances its prospects of becoming a globally leading actor in performance-enhancing car accessories by bringing in a new ownership partner. Hasko Invest becomes the new majority owner of do88 and, together with the existing owners and management, will continue the company's expansion.
Hasko Invest AB acquires a majority of the shares in do88 AB. The founders, Nils Eidenberg and Fredrik Johansson, remain as minority owners and will continue to lead the company operationally after the transaction.
Founded in 2007, do88 has grown to become a leading player in the development and sale of performance-enhancing accessories for cars. The turnover grew by about 30 percent to 41.4 MSEK in 2021, with an operating result (EBITA) of 9.6 MSEK. Sweden accounts for about a quarter of the turnover, closely followed by the USA with Germany as the third largest market. The accessories are sold under its own brand both directly to consumers through its own e-commerce as well as to resellers and mechanics.
Comment from do88's co-founder and CEO Nils Eidenberg:
"The core of our business has always been high product quality and high customer service. We have listened to our customers' wishes and gradually expanded our range to today include over 170 hose kits, intercoolers, oil coolers, and water coolers. Now we are ready for the next step in the company's development and have chosen to bring in Hasko Invest as a shareholder and partner. With Hasko's support, we have all the conditions required to become a globally leading player of performance-enhancing car accessories."
Comment from Hasko Invest's CEO Joakim Tengzelius:
"Since its inception, do88 has focused on developing high-quality products that car enthusiasts really love, resulting in loyal customers and a very good reputation in the industry. We are very impressed with the competence and experience within the company and look forward to continuing to develop do88 together with Nils, Fredrik, and the rest of the staff."
About do88
do88 develops and sells performance-enhancing car accessories under its own brand to a global customer base. Sales are conducted both directly to consumers through its own e-commerce and to resellers and mechanics. The company has eleven employees and is based in Nykvarn, outside Södertälje. See www.do88.se for more information.
About Hasko Invest
Hasko Invest was founded in 2021 and makes investments in growing and profitable medium-sized Swedish companies. The vision is to be the obvious choice for entrepreneurs and entrepreneurs seeking a long-term ownership partner. The company is based in Stockholm. See www.haskoinvest.com for more information.
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