Aktiebolaget Segulah new joint-owner of Citypress AB14 August, 2019
Citypress AB is the new owner of the Swedish local newspaper Mitt i.
Lazarus Equity Partners, an investment company specializing in companies facing operational issues, heads a consortium with a 60% stockholding in Citypress. Lazarus Equity Partners is owned by, among others, Martin Alsander and Claes Jonson, who were involved in turning things around for Swedish media group Stampen. The remaining 40% of Citypress is jointly owned by Susanne Hobohm and Aktiebolaget Segulah.
Mitt i is a well-run company, but in recent years it has struggled with the challenging advertising market facing print media, leading to declining profitability. This challenge, combined with a too large debt portfolio in relation to profitability, has resulted in demands for increased efficiency and the need to develop a digital business model.
The new chairman of the board of Mitt i will be Martin Alsander, with Lars Axelson also on the board.
For additional information, please contact
Lars Axelson, CEO Aktiebolaget Segulah, +46 70 511 51 30
Lars Axelson, VD Aktiebolaget Segulah, +46 70 511 51 30