Ratos divests its shares in Gudrun Sjödén Group

Ratos

 

Ratos has signed an agreement to sell all of its shares, corresponding to a holding of 30%, in the associated company Gudrun Sjödén Group to the company’s founder and CEO Gudrun Sjödén. In conjunction with the transaction, Gudrun Sjödén will resume full ownership of the company. Ratos will receive a consideration of approximately SEK 225m for its shares.

Gudrun Sjödén Group, an international design company with a unique, colourful design and a clear sustainability profile, was founded in 1976 by Gudrun Sjödén. Gudrun still runs the company as an active owner, CEO and Creative Director.

“After two years partnership, Ratos and Gudrun Sjödén have agreed that the company will be wholly owned by Gudrun going forward. We are convinced that the company will continue to perform well under an ownership led by Gudrun, CEO, owner and founder. By selling our shares, Ratos ends a good investment and continue the work of developing our portfolio,” says Jonas Wiström, CEO of Ratos.

“Our partnership with Ratos over the past two years has also been a learning experience for Gudrun Sjödén Group. I remain highly committed to the active ownership and development of the company, which is why I have chosen to reinvest in the company and continue our growth toward becoming a more global and digital Gudrun Sjödén Group,” says CEO and owner Gudrun Sjödén.

Ratos has been a part-owner of Gudrun Sjödén Group since September 2016. During Ratos’s holding period, the company has displayed a positive earnings trend and developed as a brand through investments in its organisation, digitalisation and increased customer value. An agreement has now been signed to sell all of Ratos’s shares. Ratos will receive a consideration of approximately SEK 225m for its shares. The total investment in the company amounts to SEK 160m for a 30% holding.

The divestment is expected to generate a positive exit gain of approximately SEK 30m and is scheduled to be completed in the third quarter of 2018.

For further information, please contact:
Jonas Wiström, CEO, Ratos, +46 8 700 17 00

Anders Slettengren, Vice President, Ratos, +46 72 589 89 00

Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50

Financial calendar from Ratos:

Interim report January-September 2018        25 October 2018

Year-end report 2018                                     15 February 2019

Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 13 medium-sized Nordic companies, with the largest segments in terms of sales being Industrials, Construction and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has a total of approximately 12,700 employees.

 

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Bygghemma has been listed on NASDAQ Stockholm

Fsn Capital

Bygghemma Group First AB (“Bygghemma” or the “Company”) – a portfolio company of FSN Capital IV, FSN Capital V and FSN Capital Project Growth – was listed on March 27th, 2018 on Nasdaq Stockholm. The initial public offering (the “IPO”) attracted very strong interest both from Swedish and international institutional investors as well as from the general public in Sweden. The offering was heavily oversubscribed.

Bygghemma Group First AB (“Bygghemma” or the “Company”) – a portfolio company of FSN Capital IV, FSN Capital V and FSN Capital Project Growth  – was listed on March 27th, 2018 on Nasdaq Stockholm. The initial public offering (the “IPO”) attracted very strong interest both from Swedish and international institutional investors as well as from the general public in Sweden. The offering was heavily oversubscribed.

The offering price in Bygghemma’s IPO was set at SEK 47.50 per share, which was in the middle of the communicated IPO range of SEK 45 – 50 per share. Assuming full exercise of the over-allotment option, the IPO will comprise 33.9m shares, corresponding to a total value of the IPO of approximately SEK 1.6 billion and 32 percent of the total number of shares outstanding. The FSN Capital Shareholders will hold approximately 50 percent of the shares after the IPO, assuming the over-allotment option is exercised in full. The market capitalization of Bygghemma at IPO was SEK 5.1 billion.

The cornerstone investors, Arbejdsmarkedets Tillægspension (ATP) and Creades, acquired 5,263,157 shares in the Offering, corresponding to SEK 250 million.

Mikael Olander, President and CEO of Bygghemma Group comments: ”We are very happy about the large interest that has been shown during the listing process for Bygghemma Group and our strong position as the superior online provider of home improvement products in the Nordic region. We are looking forward to continue to grow and develop the company, now in a listed environment.”

Henrik Theilbjørn, Chairman of the Board of Bygghemma Group says: “Bygghemma Group has established a leading Nordic platform and has great potential for both substantial organic and acquisition-driven growth and improved results in the coming years. The company targets a large and attractive market under digital transformation where it has a clear online market leadership. We are looking forward to continue to create value in a listed environment and welcome all new shareholders to follow us into the exciting future of Bygghemma Group.”

Peter Möller, Partner, FSN Capital Partners (investment advisor to the FSN Capital Shareholders): “Bygghemma Group operates on a fast-growing market where it has established a strong position as the leading online provider of home improvement products in the Nordic region. Over the last years the company has implemented several important strategic initiatives, made add-on acquisitions and improved its market position. We look forward to continue supporting the company and participate in the development of Bygghemma Group, now in a listed environment.”

 

About Bygghemma Group
Bygghemma Group is the leading online provider of home improvement in the Nordic region . The Company offers its customers a broad  product assortment at competitive prices with convenient home delivery. Sales are predominantly made online and most orders are delivered directly from the supplier to the end customer.

During 2015-2017, net sales grew by a CAGR of 44 percent, with an improvement in adjusted EBITA margin from 2.5% in 2015 to 5.0% in 2017. In 2017, Bygghemma Group reported net sales of SEK 4.0 billion and adjusted EBITA of SEK 197.0 million, corresponding to an adjusted EBITA margin of 5.0%. Pro forma net sales for 2017 (which includes acquisitions completed during 2017) amounted to SEK 4.4 billion.

Since inception in 2006, Bygghemma Group has expanded its product offering, made significant operational investments and broadened its geographical presence in Sweden, Finland, Norway and Denmark. As of 1 January 2018, the Company’s webstores are supported by 72 showrooms, customer.

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WallVision to acquire Wall&decó

Litorina

WallVision continues its international expansion through an acquisition of the Italian premium wallpaper company, Wall&decó. The previous owner will remain in the business and reinvest in WallVision Group.

WallVision is a leading wallpaper group in the Nordic region with a growing international presence. The Group consists, before the acquisition, of four strong interior design brands: Boråstapeter, Engblad & Co, Cole & Son and Mr Perswall.

With the acquisition of the Italian premium brand Wall&decò WallVision further expands its international presence and includes a strong interior brand in the group. The business, with revenues of SEK 80 million, have shown double digit growth rates with healthy profit margins since it was founded in 2005.

”I’am really excited to have Wall&decò in the WallVision Group. We look forward to expand the business further and take it to the next level together with Christian Benini and his team.” says Olle Svensk, CEO of WallVision.

The acquisition is expected to close in mid-January 2018. After the acquisition WallVision Group will have pro forma revenues of SEK 600 million and c. 210 employees.

For further information, please contact:
Olle Svensk, +46 768 56 60 93, CEO WalVision Group

WallVision, founded in 1905 is the Nordic region’s market-leading wallpaper group. The group designs, produces and sells high-quality wallpapers under four strong brands, Boråstapeter, Engblad & Co, Cole & Son and Mr Perswall. The group has a growing international presence, accounting for 25% of the group revenues. The group is headquartered in Borås, Sweden and has c. 190 employees.  For more information, please visit www.wallvision.se

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