eEquity leads investment in SNIGEL

eEquity is leading a significant investment in the renowned defense company Snigel together with, among others, Nicklas Storåkers (Yanno Capital), Sven Hagströmer (family office), Per Svärdson, and Paul Fischbein.

Snigel designs and develops personal equipment for some of the world’s foremost military units. The company is well known for its load-bearing systems but also for body armor and tactical clothing for military personnel, medics, emergency responders, and security professionals. These systems are durable and highly functional to withstand demanding environments.

Snigel has grown into one of the most reputable brands in the European defense industry. For the past 35 years, Snigel has been an established player in the Swedish market. The company has also made a name for itself across Europe, supplying soldier-borne equipment to, among others, the German and Dutch armed forces.

Since its founding in 1990, Snigel has been synonymous with quality, safety, and functionality. The company has experienced rapid growth with strong profitability in recent years. In 2022, it secured a breakthrough order from a major European defense force, which boosted its revenue to over SEK 500 million. This foundation has continued to strengthen, with the company securing additional large contracts in 2024, extending into 2025. Looking ahead, the company aims to surpass SEK 1 billion in revenue.

The rationale behind this investment extends beyond the solid values built within the company over its 35-year history. In early 2024, the EU launched a new defense strategy (The European Defence Industrial Strategy), driven by the fact that between mid-2022 and mid-2023, 78% of the EU’s defense procurement came from suppliers outside the EU—63% of which was from the United States. The new strategy aims to reduce this figure to 50% by 2030. At the same time, both the EU and NATO are increasing pressure on European nations to significantly expand their defense budgets for years to come, addressing the substantial deficit that has accumulated since the late 20th century. This follows decades of underinvestment in defense by many European nations, including Sweden. As a result, many doors are opening for well-positioned European companies like Snigel as the continent embarks on a major defense buildup.

The majority of the company’s revenue comes from government procurement contracts (B2G), but a portion is also derived from industrial clients (B2B). Additionally, a smaller share comes from sales to private individuals who not only use Snigel’s products in their professional roles but also choose to use them for recreational purposes (B2C).

eEquity has extensive experience in expanding product companies internationally and, together with the broader group of investors, aims to support Snigel in its next phase of growth. Following the transaction, eEquity and its co-investors collectively own approximately half of the company’s shares.

Malin Hlawatsch, CEO of Snigel, comments

”Snigel is growing at record speed, and we have secured a strong position within the defense industry. There is significant interest in our sector, and we are pleased to attract investors such as eEquity and others. We have ambitious growth plans, and this partnership is highly welcomed. We look forward to continuing this journey together.”

Magnus Wiberg, Managing Partner at eEquity, comments

“Europe is facing a significant expansion of its total defense, where Snigel’s products play an important role. At the same time, the products have gained popularity with industrial players due to their high quality. We hope to support Snigel in its growth journey with our expertise in scaling high-performing product companies internationally.”

For more information or media inquiries, please contact

Magnus Wiberg, Managing Partner at eEquity

magnus.wiberg@eequity.se

Simon Nyström, Deal Team at eEquity

simon.nystrom@eequity.se

Malin Hlawatsch, CEO at Snigel

malin.hlawatsch@snigeldesign.com

About Snigel:

Snigel designs, develops, and manufactures systems and solutions for carrying equipment, protection, and uniforms for defense, law enforcement, and security personnel. The systems and solutions are modular, designed for maximum user-friendliness and flexibility, while minimizing logistical complexity. Snigel offers both customized products, developed in collaboration with clients, and an “off-the-shelf” standard range.

About eEquity:

eEquity is a Nordic private equity firm that invests in growth companies across the Nordics and Northern Europe. Since 2010, eEquity has led investments totaling over EUR 400 million in companies such as PriceRunner, CHIMI, Gordon, iDeal of Sweden, Aim’n, and Mediatool. eEquity’s active investment strategy is rooted in an entrepreneurial mindset and close partnerships with its portfolio companies.