TRANSFORMATION & AUTOMOTIVE IS OUR HERITAGE
Business transformation is our heritage. Fortos has a long history as one of the most valuable transformation partners to leading automotive companies. We are passionate about automotive and mobility. We support executives to achieve successful transformations through our deep understanding of their business, our world-class transformation competence in combination with functional expertise. We see our engagements as long-term commitments to deliver sustainable client value.
THE HISTORY OF FORTOS
The name Fortos dates back to 1981 when AB Volvo acquired Beijerinvest AB. All the holdings were placed in the newly founded subsidiary: AB Fortos. During 1981-82 the main part of the investment portfolio was transferred to Investment AB Beijer, another subsidiary of AB Volvo, with the purpose to make Fortos a pure finance operation.
In 1985 Volvo Finance operations were transferred to AB Fortos. AB Fortos became responsible for AB Volvo’s currency trading, money and capital market activities, while also acting as the parent company of Fortos Finans AB, Alfred Berg Fondkommission AB and Volvo Finance SA Geneva. Further, in 1987 the responsibility of AB Volvo’s cash management in Sweden was alsotransferred to AB Fortos.
In 1989 AB Fortos was renamed Volvo Group Finance AB with the primary purpose of being AB Volvo’s internal bank.
The name Fortos was again revived in 1994 when AB Volvo place all non-automotive shareholdings in AB Fortos. The holdings represented the largest and most important companies within The Confederation of Swedish Enterprise (Svenskt Näringsliv). Fortos held, among others, companies like; Swedish Match AB, Abba Seafood AB, Pripps, Ramlösa, Felix, Ekströms, Önos, Falcon, Lighthouse of Scotland Ltd, Pripps Ringnes AB, Lithells AB, Pharmacia & Upjohn, Inc.
In mid 1990’s AB Volvo decided to discontinue all non-automotive businesses and divest all holdings. The final divestment took place in early 1998 when the final holdings in Pripps Ringnes AB, Renault, SAS Sweden, Fabege, and Pharmacia & Upjohn, Inc. were sold.
The Fortos name was once again revived in 2000 following an initiative to create a Financial Management Center of Excellence. Fortos Financial Consulting was born which mark the start of the Fortos consulting history. Between the years 2000-2007 Fortos was engaged in numerous finance assignments both within AB Volvo and external clients. Fortos was considered one of the top thought leaders within finance consulting.
In 2007 Fortos Financial Consulting merged with the internal departments Business Consulting, Business Process Innovation, and IT Management Consultancy. The total offer was now broadened to also include competence within Strategy, Operations, Sales & Aftermarket, and Change Management – creating the present days Fortos Management Consulting.
2012 Fortos Management Consulting was renamed Business Transformation Services (BTS) and transferred to Corporate HQ as a group function with the purpose to act as advisors to all Volvo Group Executive Management Teams.
In 2014 all internal Management Consulting and Business Consulting was gathered in one organization. The new department was named Consulting Services and held some 400 consultants globally.
In 2015 a decision was taken to spin-off the internal Management Consulting and the management of BTS were offered a management buy-out.
As of October 1st 2015 all intellectual property of BTS, along with its base of experienced consultants, were transferred to the newly founded Fortos Management Consulting AB.