FSN Capital Funds has signed an agreement to acquire Bygghemma Group Nordic AB (“Bygghemma Group”, the ”Company”) from Nordstjernan and the Company’s management team. Bygghemma Group is the leading Nordic e-tailer within DIY building materials and home furnishing.
Since the start in 2006, Bygghemma Group has deepened and broadened its product assortment and geographical coverage, and is today the leading Nordic e-tailer within DIY building materials and home furnishing through sites such as bygghemma.se, bygghjemme.no. trademax.se and chilli.se. Bygghemma Group today offers the markets’ broadest product assortment at competitive prices. The significant opportunity for continued organic and acquisitive growth in the Nordics together with potential for international expansion outside the Nordics makes this a very attractive investment for FNS Capital Funds. During the twelve months period ending on 30th June 2016 Bygghemma Group reported a turnover of SEK2.3 Bn and an EBITA-margin of 3.4%.
Peter Möller, Partner at FSN Capital Partners AB, acting as adviser to FSN Capital Funds, comments: “Bygghemma Group is a leading e-tailer with a unique value proposition in a fast growing market. FSN Capital Funds have followed the Company for a long time and are impressed with how the management team has successfully combined fast growth with healthy profitability and strong cash flow. Going forward, FSN Capital Funds see strong prospects to continue the Company’s Nordic expansion both organically and through select acquisitions. Furthermore, FSN Capital Funds believes the Company’s value proposition has good potential in markets outside of the Nordics and look forward to exploring this potential together with the management team.”
Mikael Olander, CEO at Bygghemma Group comments: “Bygghemma Group has during the time with Nordstjernan developed in a fast pace and is today the leading Nordic e-tailer within DIY and home furnishing. We are recognized through our broad assortment with products from a combination of external and own brands. In addition, high service level, competitive prices and efficient home delivery are central components to our offering. We now look forward to continue the development together with our new principal owner FSN Capital Funds and would like to thank Nordstjernan for the good cooperation.”
Tomas Billing, CEO at Nordstjernan, comments: “In 2014, Nordstjernan invested in Bygghemma Group to drive growth, both organically and through acquisitions. Since then, the Company has more than doubled its turnover through organic growth and several acquisitions and, at the same time, significantly improved its profitability. Consequently, the Company has reached its goals faster than we anticipated”.
“We want to thank Bygghemma Group’s management team and employees for their contributions. FSN Capital Funds is an owner with significant experience and competence within retail. We are convinced that Bygghemma Group’s growth journey will continue and we wish Bygghemma Group and FSN Capital Funds best of luck going forward”, Tomas Billing continues.
The parties have agreed not to disclose the purchase price.
SEB, White & Case, KPMG and Bain & Company have acted as advisers to FSN Capital Funds in connection with the transaction, which is subject to regulatory approvals from the competition authorities.