Who Owns HMS Company?

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Who Owns HMS Company?

Understanding the ownership of a company like HMS Networks is key to grasping its strategic direction and market position. The company's journey, from its inception in 1988 to its current status as a global leader in Industrial ICT, has seen significant shifts in its stakeholder landscape. This analysis will explore the evolution of HMS Company ownership, highlighting its transition to a publicly traded entity and identifying its key investors.

Founded in Halmstad, Sweden, by Nicolas Hassbjer and Staffan Dahlström, HMS Networks began with a clear mission to connect industrial hardware and software. This foundational vision has guided its growth into a significant player in the Industrial IoT space. By October 2007, the company took a major step by listing on the OMX Nordic Exchange in Stockholm, opening its doors to a wider range of investors and increasing public accountability.

As of 2024, HMS Networks operates as a publicly traded company on Nasdaq Stockholm, listed in the Large Cap segment within the Telecommunications sector. This public status means that ownership is distributed among various shareholders, including institutional investors, individual investors, and potentially company insiders. The company reported sales of SEK 3,059 million in 2024 and employs over 1,100 people worldwide, underscoring its substantial global presence and operational scale. Identifying the major shareholders is crucial for understanding who controls HMS Company operations and influences its strategic decisions. The company's commitment to bridging industrial communication gaps is evident in its product offerings, such as those analyzed in the HMS BCG Matrix.

The ownership history of HMS Company reveals a progression from its founding entrepreneurs to a broad base of public investors. While the founders likely held significant stakes initially, the public offering would have diversified this ownership. The current HMS Company investors comprise a mix of entities that invest in technology and industrial automation. Understanding the HMS Company structure and its financial ownership provides insight into its governance and long-term strategy.

To determine who owns HMS Company today, one would typically look at filings with regulatory bodies and stock exchange disclosures. These documents often detail the largest shareholders, providing clarity on the HMS Company parent company structure, if any, and the individuals or institutions with substantial influence. The HMS Company board of directors and executive team are responsible for managing the company's operations, guided by the interests of its diverse shareholder base.

HMS Company, originally established in 1988 in Halmstad, Sweden, was founded by two engineers, Nicolas Hassbjer and Staffan Dahlström. Their shared vision for industrial communication served as the foundation for the company's subsequent development. While the precise initial equity distribution is not publicly documented, the founders' entrepreneurial spirit was key to its inception.

The early ownership structure saw a significant shift in August 2004 when the company was acquired by Segulah Advisor. This acquisition marked a period of strategic investment and a restructuring of the company's ownership prior to its public offering.

The company's transition to a publicly traded entity occurred in October 2007 with its listing on the OMX Nordic Exchange in Stockholm. The initial public offering (IPO) involved the sale of 6,491,050 shares, representing 61.4% of the total shares and votes. An overallotment option was also available, which could have increased this stake to 67.5%. This IPO was a crucial step in its evolution, involving the sale of existing shares by Segulah II L.P., Nicolas Hassbjer's associated companies, and Staffan Dahlström's associated companies.

Founding Engineers

Nicolas Hassbjer and Staffan Dahlström are the founders of HMS Company, establishing it in 1988.

Early Strategic Investment

Segulah Advisor acquired the company in August 2004, preceding its public listing.

Public Listing

The company became publicly traded on the OMX Nordic Exchange in Stockholm in October 2007.

IPO Share Offering

The IPO involved 6,491,050 shares, making up 61.4% of the company's shares and votes.

Founder Share Retention

Post-IPO, founders Nicolas Hassbjer and Staffan Dahlström each retained approximately 15% ownership.

IPO Share Sellers

Shares were sold by Segulah II L.P., Nicolas Hassbjer's companies, and Staffan Dahlström's companies during the IPO.

Post-IPO Ownership Structure

Following the October 2007 IPO, the founders, Nicolas Hassbjer and Staffan Dahlström, maintained significant stakes in the company. Each founder held approximately 15% of the shares, collectively representing 30% of the total share capital and voting rights. This substantial retained ownership by the founders indicated their continued influence and commitment to the company's strategic direction, even after its public offering. The IPO itself was facilitated by the sale of existing shares by early investors and the founders, including Segulah II L.P. and companies associated with Nicolas Hassbjer and Staffan Dahlström, reflecting the early involvement of private equity in the company's growth trajectory and its approach to expanding its market reach, a topic also explored in the Growth Strategy of HMS.

• Founders Nicolas Hassbjer and Staffan Dahlström each held approximately 15% of shares post-IPO.
• Combined founder ownership accounted for 30% of share capital and votes.
• The IPO involved selling shares from Segulah II L.P. and founder-associated companies.
• This structure demonstrated continued founder influence after becoming a public entity.

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HMS Networks AB (publ) transitioned to a publicly traded entity on October 18, 2007, with its initial listing on the OMX Nordic Exchange in Stockholm. The company's market capitalization at the time of its Initial Public Offering (IPO) was between SEK 687 million and SEK 846 million. This public offering marked a significant step in its ownership evolution, opening the door for broader investment and a more diversified shareholder base.

The company's journey since its IPO has been one of substantial growth. By the end of 2024, HMS Networks AB's market capitalization had surged to approximately SEK 21.828 billion. As of July 11, 2025, this figure stood at 1.65 billion USD, demonstrating a notable 4.68% increase over the preceding year. A key development in its listing history was the move to Nasdaq's Large Cap list, effective January 3, 2022, which further solidified its position in the market and potentially attracted a wider array of institutional investors.

As of December 31, 2024, HMS Networks AB (publ) reported a total of 7,261 shareholders, a decrease from 8,341 in the previous year. The concentration of ownership among the top ten shareholders is significant, as they collectively held 72.5% of the votes and capital, a slight increase from 72.0% in the prior year. This indicates that a substantial portion of the company's control and financial stake resides with a select group of major holders. Among the prominent institutional investors, as per July 2025 filings, are Vanguard Total International Stock Index Fund Investor Shares (VGTSX), T. Rowe Price International Discovery Fund (PRIDX), Vanguard Developed Markets Index Fund Admiral Shares (VTMGX), and iShares Core MSCI EAFE ETF (IEFA). These entities collectively owned 2,276,477 shares based on recent SEC filings. Investment AB Latour is also a key stakeholder, with Johan Menckel, a representative from Investment AB Latour, serving as the Chairman of the Nomination Committee for the 2025 Annual General Meeting. Other notable stakeholders include representatives from AMF Fonder and Första AP-fonden, underscoring the influence of major Swedish institutional investors on the company's governance and strategic direction. Understanding who owns HMS is crucial for grasping its corporate governance and strategic trajectory, especially when considering its Target Market of HMS.

Major Stakeholders in HMS Networks

The ownership of HMS Networks is characterized by a significant presence of institutional investors and a concentrated group of major shareholders.

• Vanguard Total International Stock Index Fund Investor Shares
• T. Rowe Price International Discovery Fund
• Vanguard Developed Markets Index Fund Admiral Shares
• iShares Core MSCI EAFE ETF
• Investment AB Latour
• AMF Fonder
• Första AP-fonden

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The corporate governance of HMS Networks is structured to ensure that shareholders hold the ultimate decision-making authority, primarily exercised through the Annual General Meeting (AGM). At the AGM, shareholders elect the Board of Directors, the Chairman of the Board, and auditors. They also determine the election process for the Nomination Committee. The Board of Directors is accountable to the shareholders for the overall organization and administration of the Group. This framework underscores the direct link between ownership and control within HMS Company.

As of April 2025, the Board of Directors for HMS Networks consists of six elected members, with no deputies. Charlotte Brogren was re-elected as the Chairman of the Board at the AGM held on April 25, 2025. The other re-elected board members include Anders Mörck, Cecilia Wachtmeister, Niklas Edling, Anna Kleine, and Johan Stakeberg. Anders Mörck is considered independent from the company itself but maintains a connection to its main owners due to his role as CFO at Investment AB Latour. In contrast, Cecilia Wachtmeister and Johan Stakeberg are deemed independent from both the company and its principal owners. Employee representatives also hold positions on the board; as of June 30, 2025, Mikael Mårtensson was a board member holding 22,595 shares, and Richard Gonsalves, who joined in April 2024, held no shares.

HMS Networks operates under a strict one-share-one-vote principle, meaning every share issued carries identical voting rights. The company has a total of 50,318,868 shares outstanding. As of March 18, 2025, HMS Networks held 134,370 of its own shares, which do not confer any voting rights. The Nomination Committee plays a pivotal role in the governance process, proposing candidates for the board and ensuring shareholder interests are represented. This committee includes representatives from significant shareholders, such as Investment AB Latour and Staffan Dahlström (through private shareholding). Collectively, the four owner representatives on the Nomination Committee represented 52% of the total voting power of all shares in the company as of August 31, 2024, demonstrating their substantial influence on the company's direction and Revenue Streams & Business Model of HMS.

Shareholder Influence on Governance

Major shareholders wield significant power in directing HMS Company's governance through the Nomination Committee. This committee's composition directly impacts board appointments and strategic direction.

• Shareholders elect the Board of Directors at the AGM.
• The Nomination Committee, with owner representatives, proposes board candidates.
• As of August 31, 2024, owner representatives held 52% of the voting power.
• The one-share-one-vote structure ensures equitable voting rights for all shareholders.

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Over the past three to five years, HMS Networks has experienced substantial strategic and organizational shifts that have reshaped its ownership landscape. These changes reflect a proactive approach to growth and market positioning, influencing its stakeholder dynamics.

In 2024, HMS Networks finalized two significant acquisitions: Red Lion Controls in April 2024 and PEAK-System Technik GmbH, slated for completion on November 1, 2024. These moves have broadened the company's product portfolio and extended its market reach. The increased debt resulting from these acquisitions led the Board to propose no dividend for the 2024 financial year, a decision aimed at debt reduction in 2025 and strengthening the balance sheet for future investment opportunities.

The company's internal structure also saw a reorganization effective January 1, 2025, dividing HMS Networks into three distinct divisions: Industrial Data Solutions (IDS), Industrial Network Technology (INT), and New Industries (NI). This restructuring, which impacted approximately 40 positions primarily in management and sales/marketing, is projected to yield annual savings of SEK 40 million starting from January 1, 2025. Employee numbers grew from an average of 1,059 in 2024 to over 1,100 by early 2025, reflecting the impact of recent acquisitions.

Institutional Investor Activity

Institutional ownership remains a dominant factor in HMS Company ownership. As of recent filings, 62 institutional owners collectively hold over 2.2 million shares, indicating significant backing from larger investment entities.

Insider Confidence and Shareholder Trends

Insider buying observed in the past three months suggests internal confidence in the company's future. Concurrently, a decrease in individual shareholders and an increase in the concentration of shares among the top ten holders point towards a consolidation of ownership among major stakeholders.

Strategic Reorganization and Financial Prudence

The recent restructuring into three divisions aims to enhance customer focus and cross-selling. The decision to forgo dividends in 2024 underscores a commitment to financial health, prioritizing debt reduction and balance sheet strengthening to support long-term growth objectives.

Employee Share Programs

Active employee share savings programs demonstrate an effort to align employee interests with those of the company. With 57,448 saved shares in ongoing programs as of March 31, 2025, these initiatives foster a sense of ownership among the workforce.

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