Erik Paulsson, the real estate magnate who founded construction giant Peab, has died. He was 83 years old.
Paulsson passed away peacefully in his sleep overnight, according to Lennart Mauritzon. Mauritzon leads the holding company Backahill.
Paulsson established Peab in 1959 as a small construction business. He transformed it into one of Scandinavia's largest construction and civil engineering companies. The firm now operates across Sweden, Norway, and Finland.
What made Paulsson's story remarkable? He built a multinational corporation from humble beginnings in a small Swedish town. His company became known for major infrastructure projects throughout the Nordic region.
Paulsson remained active in business leadership until recent years. He served as chairman of Backahill, which controls significant stakes in multiple Nordic companies.
The construction industry loses one of its most influential figures. Paulsson's legacy includes thousands of buildings and infrastructure projects across Northern Europe.