Segulah appoints head of operations

A Segulah portfolio company CFO has moved up the ranks to oversee the business plans and financial modelling of the Nordic private equity house’s portfolio at large.

Lars Axelson, chief financial officer of Segulah portfolio company Gunnebo Industries, will join his former employer’s financial sponsor as a director of operations and control, a newly created position. 

Under his new title, Axelson will work alongside the management teams of Segulah portfolio companies – which include Swedish pharmaceutical group CCS Healthcare and Nordic consumer electronics servicer InfoCare. 

Segulah managing partner Christian Sievert explained Axelson will help management teams steer capital into more promising streams of business, conduct profitability analyses, formulate business plan developments and other efficiency projects.

As the chief financial officer of three other leveraged buyout companies, Axelson understands the intricacies of private equity ownership at the portfolio company level, said Sievert. 

Companies in the mid-market, where Segulah typically hunts for deals, often “have a relatively vague idea of what customers, markets, products and distribution channels they’re making money on”, said Sievert. With the addition of Axelson, the firm will have a dedicated member responsible for addressing that challenge, he said. 

Meanwhile Segulah has promoted  chief financial officer Håkan Dahlin and head of banking Erik Thornell to partner.