Hannes Snellman Counsel to the Wikström Family when Midroc Becomes Granitor
18 October 2021
The brand Midroc is used by a wide range of operations with different constellations of owners in Sweden, the Middle East, and Africa. The company group Midroc Europe is owned by Mohammed Al Amoudi, one of the largest foreign investors in Sweden, together with the Swedish Wikström family. Since its inception in 1996, Midroc Europe has grown strongly and today comprises three business areas with a total turnover of approximately SEK 8 billion and 4,400 employees, most of which are active in the Nordic region.
The Midroc Europe Group will replace the common brand Midroc and from January 2022 instead use the Granitor brand. The change of brand is part of a renewed and formalised ownership agreement between Midroc Europe’s two owner families, and it entails a continued and in-depth collaboration that extends beyond generational boundaries. The new agreement is a natural progression that sees the Wikström family gradually increasing its holdings and Mohammed Al Amoudi becoming a more long-term minority owner and financier.
For further information, please refer to Midroc’s press release here.
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