Swiss Investor Boosts Stake in Studsvik With ‘Growth Agenda’
(Bloomberg) — Swiss investor Daniel Aegerter has boosted his stake in the Swedish nuclear technical services firm Studsvik AB to just under 30% and is pursuing an “ambitious growth agenda” amid a resurgence in the industry.
Aegerter, who leads Zurich-based family office Armada Investment AG, is raising his stake to 29.9%, having initially acquired a 9.9% holding in February. The Studsvik investment is held directly by Aegerter in his own name, according to a statement reviewed by Bloomberg.
Studsvik is a “one-of-a-kind company with a unique and global footprint,” Aegerter is cited as saying in the statement. The company is “poised to accelerate growth” on the back of the “positive shift in sentiment around nuclear power globally,” he said.
The stake purchase makes Aegerter Studsvik’s biggest shareholder, according to data compiled by Bloomberg. “We will work with the company to pursue an ambitious growth agenda, both organically and through M&A,” said Armada investment director Benjamin Eisert, who joined Studsvik’s board in April.
Shares in Studsvik jumped as much as 8.8% on Monday morning, giving the company a market value of about $117 million.
The move comes as a surge in data centers leads to increasing demand for energy, including nuclear power, around the globe. The World Bank’s board last week lifted its ban on supporting nuclear power, and US President Donald Trump in May signed executive orders meant to accelerate the construction of atomic power plants.
Nuclear technology is “poised to see a significant growth inflection at a time when more and more power demand globally is being driven by the need for reliable, around-the-clock, and clean sources of electricity,” Goldman Sachs Group Inc. said in a recent note.
Studsvik, which is based in Nyköping, south of Stockholm, traces its roots back to 1947, when AB Atomenergi was formed to develop, design, construct and operate nuclear power installations in Sweden, according to the company’s website.
Armada has invested across the nuclear supply chain for over a decade, with portfolio companies including Oklo, Commonwealth Fusion Systems, Proxima Fusion, Last Energy, and Blykalla.
(Adds share moves in fifth paragraph.)
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