Candover hires ex-Volvo CEO

The listed European buyout firm has appointed Fredrik Arp as senior advisor to lead investment in the Nordic region of Europe. Arp is the former chief executive officer of Volvo, but left the firm last year after a three year stint at its Swedish headquarters.

London-based listed private equity firm Candover has appointed Fredrik Arp as a senior advisor to focus on investment in the Nordic region.

Arp was appointed chief executive officer of car manufacturing giant Volvo in October 2005, operating from the firm’s Gothenberg, Sweden-based headquarters until his departure last year. Prior to working at Volvo Arp held chief executive officer positions at Trelleborg, a damp sealant manufacturing business and Trelleborg Industrier, a rubber and plastics manufacturer, both based in Sweden.

Candover have made four investments in the Nordics: Sweden-based branded goods company, Thule, which was sold to Nordic Capital in 2007; Norway-based oilfield services provider Vetco Aibel, which was sold to Ferd Private Equity in 2007; Norway-based GET, a cable television company, which was sold in 2007 to Quadrangle Capital and GS Capital Partners; and Swedish bed manufacturer Hilding Anders, which remains in the portfolio.

Arp has worked with Candover since 2004, initially as chairman of Thule and subsequently as chairman of Hilding Anders.

Since 1980 Candover has invested in 137 buyouts worth €46 billion, according to its website.