Nordstjernan to sell its majority holding in Bygghemma Group to FSN Capital IV and V
Nordstjernan and Bygghemma Group’s management have signed an agreement to sell Bygghemma Group Nordic AB (“Bygghemma Group” or “the Company”) to FSN Capital IV and FSN Capital V (“FSN”). Bygghemma Group is the leading e-commerce company in the Nordic region within building and interior design products.
Since its foundation in 2006, Bygghemma Group has expanded and broadened its product portfolio and its geographic coverage and is today one of the leading e-commerce companies with building products, for example with bygghemma.se and taloon.com, and in interior design, with Trademax.se and Chilli.se. Bygghemma Group today offers the market’s broadest range of products at competitive prices. For the 12-month period ending June 30, 2016, Bygghemma Group reported turnover of SEK 2.3 billion and an EBITA margin of 3.4 percent.
Tomas Billing, CEO of Nordstjernan, comments: “In 2014, Nordstjernan invested in Bygghemma Group to enable growth, both organically and through acquisitions. Since then, turnover has more than doubled through organic growth and several acquisitions have been completed. The Company at the same time significantly increased profitability and has consequently reached its goals faster than we anticipated.”
“We want to thank Bygghemma Group’s management team and employees for their contribution and outstanding work. FSN is an owner with significant experience and competence in retail. We are convinced that Bygghemma Group’s growth journey will continue and we wish Bygghemma Group and FSN the best of luck going forward.” continues Tomas Billing.
Peter Möller, Partner at FSN, comments: “Bygghemma Group is a leading e-commerce company with a unique value proposition in a rapidly growing market. We have been following the Company over a long period of time and are impressed by how management has been able to combine rapid growth with good margins and strong cash flows. Going forward we see clear opportunities to continue the Company’s expansion in the Nordic region, based on both organic growth and through selected acquisitions. We also believe that the Company’s value offering has great potential in markets outside the Nordic region and we look forward to exploring this together with the Company’s management team.”
Mikael Olander, CEO of Bygghemma Group had the following comments: “During its time with Nordstjernan, Bygghemma Group has developed in a fast pace and we are today the leading Nordic e-commerce company in building and interior design products. We are recognized by a broad assortment of products from a combination of external and own brands. In addition, high service levels, competitive prices and efficient home delivery are central components of our offering. We are now looking forward to continuing our development together with our new principal owner FSN and would like to thank Nordstjernan for the good cooperation.”
The parties have agreed not to disclose the amount of the transaction.
Carnegie, Gernandt & Danielsson, PwC and Arthur D. Little served as advisors to Nordstjernan and Bygghemma Group in connection with this transaction.
|Tomas Billing||Peter Möller
|Nordstjernan AB||FSN Capital||Bygghemma Group Nordic AB
Questions will be answered by:
Tomas Billing, CEO, Nordstjernan AB
Telephone: +46 8 788 50 18
Peter Möller, Partner at FSN Capital
Telephone: +46 70 373 33 18
Mikael Olander, CEO, Bygghemma Group Nordic AB
Telephone: +46 70 819 43 00
Nordstjernan is a family-controlled investment company that creates growth in value through long-term and active ownership of Nordic companies. More information about Nordstjernan is available at www.nordstjernan.se
FSN Capital is a leading Nordic private equity investment company focused on the middle-market segment. Originally established in 1999, FSN Capital seeks to make control investments in Nordic companies with significant potential to become international leaders
Bygghemma Group is a leading e-commerce company in the Nordic region supplying building and interior design products. Bygghemma.se was founded in 2006 and has expanded into a pan-Nordic Group with physical stores and e-stores in Sweden, Finland, Denmark and Norway. Bygghemma Group’s head office is located in Malmö and has approximately 400 employees