ProvideU

Fredrik Forngren is CEO of ProvideU, which he established in 2008, together with Mikael Rehnberg. ProvideU supplies custom-made components and complete systems (PCBA and box-build). The company has operations in Sweden and Estonia, and sales of approximately SEK 100 million.

– We know that Novedo is the right way for us as we take the next step in developing ProvideU and are attracted by the idea of owning shares in Novedo as a long-term option.

ProvideU works in four main segments in the field of components: cable harness, membrane panels, electronic components, and plastic and mechanical parts. The components are mainly manufactured by production partners in Asia. The company also offers electronics manufacturing and the assembly of complete systems, which takes place at its factory in Estonia. The ability to both produce components and assemble complete products makes ProvideU unique.

– Novedo is ideally suited to us as we take the next step to scale up the company. Being a shareholder and also participating in the IPO, of course, makes it an even more attractive prospect. We get to embark on two journeys in parallel.