Melker Schorling, Sweden's quiet tycoon with the Midas touch
By Mia Shanley and Niklas Pollard
STOCKHOLM (Reuters) - Business tycoon Melker Schorling, one of Sweden's most prominent investors, says he is well-positioned to expand his 60 billion crown ($7 billion) investment empire even as he prepares to hand over affairs to his daughters.
MSAB, the holding company he set up in 1999 which spans a diverse set of companies from measurement technology to locks and guards, has consistently outperformed larger rivals.
Investors attribute Schorling's success to a knack for picking small specialists which go on to become global market leaders.
In a decade, MSAB has had returns of over 500 percent, outperforming rivals such as Wallenberg-backed Investor AB and Industrivarden and leading Swedish media to dub Schorling "King Midas" of the Stockholm bourse.
MSAB investors include H&M chairman Stefan Persson and BP & AB Volvo Chairman Carl-Henric Svanberg.
But while Schorling's path to success has had few bumps, some analysts are beginning to question the future of the group which has not made a single new investment in a decade.
Schorling turns 70 next year and although his daughters have become more involved they have not yet stepped into high-profile executive roles, and he recently lost one of his closest team members, MSAB CEO Ulrik Svensson, who leaves at year-end to join Lufthansa as CFO.
Svensson's departure raises some questions about the group's direction and stability, analysts say. Continued...