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FlexQube founders ringing the NASDAQ bell

Our Story

The FlexQube story began over 30 years ago in central Sweden, with three boys who developed a love for playing with Lego®. They grew up and embarked on their professional careers, but the love of being able to build constructions in a seemingly endless number of permutations stayed with them.

While working for a global manufacturer of construction equipment, Per Augustsson (CTO, Chief Technical Officer, FlexQube) noticed that the handling of materials did not meet modern requirements. The industry’s standards for welded solutions could not be sufficiently adapted to the constant changes within the industry.

An industrial cart used to transport certain items from the store to the assembly area was welded together using the dimensions and weight of the items. When a product life cycle was modified, this industrial cart was no longer suitable for new items and had to be scrapped.

Investor Overview

Per Augustsson realized immediately that because the production lines were being changed more frequently, there was also an increasing need for a customized solution for handling materials. ”I realized that there was a need for a supportive, robust and easily adaptable solution. The more I looked into it, the more I realized that a concept with a small number of standardized building blocks was what was needed,” says Per.

This insight led to the birth of the three friends’ FlexQube idea. With it, they created a professional, robust and flexible material handling concept based on the principle of building blocks.

They considered quite a number of ideas before Per, along with Christian Thiel (CFO, FlexQube) and Anders Fogelberg (CEO, FlexQube), finally settled on the new concept.

”As we approached the concept in the early days, we quickly saw the strength of a bolted solution. Many people are concerned about this, but they don’t realize that there’s a reason why you don’t weld your tires to your car – you’ll need to replace them in the future. This is something many leaders in the industry now realize is necessary for material handling,” says Anders.

FlexQube offers a flexible system with standardized building blocks that can be used to construct industrial material handling applications, such as pallet carts, kit carts and shelf carts. The products can be disassembled and adjusted; they are flexible. The concept saves both time and money when a new design is needed.

”The product is inspired by Lego®. We use an interval of seven centimeters in all the components, so you can easily design and assemble them into different solutions. Regardless of how you connect our products together, you get the same interface – just like you do with Lego®”, says Christian.

FlexQube has grown since it started and today helps over 500 customers in up to 25 countries – and the customer base keeps growing. It has customers in a wide range of industries: automotive, construction and agriculture, heavy vehicle (buses, trucks, trains), distribution and storage, aviation, domestic appliances, consumer goods, energy, medical equipment, and defense.

On Thursday, December 14, 2017, Anders, Christian and Per reached one of the interim goals when FlexQube was listed on Nasdaq First North in Stockholm, and in its first year as a listed company posted growth of around 140 percent. A lot has already happened in the FlexQube story; a short story, so far, but the robust, modular concept has much more potential, and we are still at the beginning of our journey.

FlexQube founders at the FlexQube office
FlexQube CEO Anders Fogelberg
CEO

Anders Fogelberg

Anders Fogelberg has a Masters of Science in Mechanical Engineering & a bachelor’s degree in industrial & financial economics from the School of Economics at the University of Gothenburg. Anders founded FlexQube in 2010 alongside Christian Thiel & Per Augusston  and has previously worked as a management consultant at Accenture with a focus on Supply Chain Management.

Holdings in the company: Anders Fogelberg holds, through companies, 1,268,444 shares in the company.

FlexQUbe CTO Per Augustsson
CTO

Per Augustsson

Per Augustsson has a Master of Mechanical Engineering from Chalmers University of Technology. Per founded FlexQube in 2010 alongside Christian Thiel & Anders Fogelberg and has previously worked with Volvo as a project manager focusing on product development & investment.

Holdings in the company: Per Augustsson holds, through companies, 1,458,443 shares in the company.

CFO of FlexQube Mikael Lindbäck
CFO

Mikael Lindbäck

Mikael Lindbäck has a Master of Science in Accounting and a Bachelor’s degree in Corporate Finance from the School of Economics at the University of Gothenburg. Mikael joined FlexQube in September 2019. Mikael has previously worked as the CFO of industrial workplace equipment supplier, Gigant AB and Grunda AB (B&B Tools AB (publ)), before moving on to become Head of Finance at cloud-based transportation & delivery management firm, Centiro Solutions AB. Mikael brings extensive knowledge and experience in developing and running finance departments in fast-growing companies, working closely with the operations. In addition, Mikael brings well-developed computer, digital and automation skills.

Holdings in the company: Mikael Lindbäck currently holds 0 shares in the company.

Board of directors
Chairman of the board

Ulf Ivarsson

Ulf Ivarsson has a background in Economics from the University of Gothenburg. Ulf provides FlexQube with extensive experience in a wide range of companies including Chairman of Serneke Group AB, Curago and Polstiernan Industri, Partner at Nordic Capital, and Executive vice president of Bure Equity.  Ulf has also acted as a stock market editor for Dagens Industri & held previous assignments in corporate finance & management.  Ulf is also Chairman of the Board of AB Stratio, Negotium Curago Göteborg AB, Syntegra Invest AB, SmartHome4U Sweden AB and is a Member of the following boards Klövern AB (publ) Exsultat Aktiebolag, Minti Investment Management AB and is a member of the advisory board for PostProcess Technologies Inc.

Holdings in the Company: Ulf Ivarsson holds 80,000 shares in the company through companies.

Ulf is independent of the Company and the Executive Management and independent of major shareholders.

Board of directors
Board Member

Anders Ströby

Anders Ströby has a Master of Science in Mechanical Engineering & completed economic studies at Stockholm University. Anders has extensive experience from a wide range of assignments including Executive roles within the Husqvarna Group, Electrolux Outdoor Products, & Jonsered AB.

Holdings in the company: Anders Ströby holds, through companies, 70,000 shares in the company.

Anders is independent of the Company and the Executive Management and independent of major shareholders.

FlexQube Board member Kristina Ljungren
Board member

Kristina Ljunggren

Kristina Ljunggren holds a M.Sc. in Industrial Engineering and Management from Chalmers and Instituto Tecnológico y de Estudios Superiores de Monterrey in Mexico.

Kristina is Partner at Triathlon Group and her expertise in leading large transformation journeys and developing and implementing best practices within producing organizations have won widespread recognition.

Kristina has worked internationally with business transformations relating to supply chain & operations, Industry 4.0, servitization and electromobility.

She also currently sit on the boards of Triathlon AB, TPIII Global II AB, Alea Redovisning AB, Pinestreet AB, TPIII Global AB, Industrial Senior Advisors Vehiculum AB.

Kristina holds 9500 shares in the company. 

Kristina is independent of the Company and the Executive Management and independent of major shareholders.

FlexQUbe CTO Per Augustsson
Board member

Per Augustsson

Per Augustsson has a Master of Mechanical Engineering from Chalmers University of Technology. Per founded FlexQube in 2012 alongside Christian Thiel & Anders Fogelberg and has previously worked with Volvo as a project manager focusing on product development & investment.

Holdings in the company: Per Augustsson holds, through companies, 1,458,443 shares in the company.

Per is not independent in relation to the company, the executive management, and major shareholders.

FlexQube CFO Christian Thiel
Board member

Christian Thiel

Christian Thiel has a Master of Law and a Bachelor’s degree in industrial & financial economics from the school of economics at the University of Gothenburg. Christian brings with him experience in the legal area and extensive knowledge in the area of business finance and transactions. Christian has several years of knowledge in starting & operating companies in various industries.

Holdings in the company: Christian Thiel holds, through companies, 1,930,000 shares in the company.

Christian is not independent in relation to the company, the executive management, and major shareholders.

Financial calendar

Annual Reports

Quarterly Reports

Articles of Association

  • Articles of Association
  • Årsstämma FlexQube AB (publ) 2019-05-03
  • Årsstämma FlexQube AB (publ) 2018-04-26
  • Extra bolagsstämma FlexQube AB (publ) 2018-12-14

Share Information

FlexQube (publ) is traded on NASDAQ First North in Stockholm Sweden.

The ticker symbol is FLEXQ and the ISIN-code is: SE0010547075

The first day for trading for FlexQube on Nasdaq First North was 14th December 2017.

More information about FlexQube’s share can be found at Nasdaq.

Financial Contact

CFO

Christian Thiel

+46 705 47 90 90

Email me

Financial & other information

CEO

Anders Fogelberg

+46 702 86 06 74

Email me

General IR Information

Certified Advisor

Flexqube HQ

Kungsgatan 28

411 19 Gothenburg

Sweden

+ 46 72 711 1477

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FlexQube US Southeast sales manager
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