Deals and capital
Henrik Ahlström
Eleven years on a Nordic bank’s industrial deals desk, then CFO of a family-owned engineering group through two acquisitions. He joined Kvist in 2017.
Always asks
“What does the order book actually say?”
Practice
Deals and capital
Before Kvist
CFO, a family-owned engineering group
At Kvist
Partner since 2017
Works in
Swedish, English, Finnish
Next start
6 April 2027
Why that question
Every deal model has a forecast in it, and every forecast was written by someone who wanted the deal, or the budget, to happen. The order book was written by customers. It is the one number in the room nobody on either side made up.
Before he reads a model, he reads the order book: what is signed, at what price, and for how long. The difference between the two is usually the negotiation.
Before Kvist
Analyst on a Nordic bank’s industrial deals desk, Stockholm and Helsinki.
Director on the same desk, leading sell-side work for family-owned companies.
CFO of a family-owned engineering group, through two acquisitions.
Joined Kvist as its third partner.
Questions Henrik is asked most
And the first test Henrik runs on each, in week one.
Is the acquisition worth what we’re paying?
First test · the order book against the model, customer by customer
Should the next generation sell?
First test · what the family wants from the company, asked one person at a time
What would a buyer pay for us, and why?
First test · the five numbers a buyer will check first, as they would check them
Engagements
The ones our clients have let us describe. Ask about the others.
A fastener distributor, Nordics and Baltics
Written up
Should the next generation sell?
A family-owned maker of bakery equipment
Summary
Notes
Next partner
Ingrid Malmberg
Operations and footprint
·
“Where does the work wait?”
A question in Henrik’s part of the world? Bring it; Henrik reads it, and replies within two working days.