Apprecia is a privately held investment company based in Gothenburg, Sweden. We focus on companies that have, or could develop, a high level of business franchise. By business franchise we mean businesses that have one or more unique properties that make them stand out from the competition. To this we add the criteria of solid market fundamentals, which means that the market should have inherent long-term growth drivers. Such growth drivers are preferably secular or “seismic” in nature.