The EQT Public Value fund (“EQT Public Value”) has acquired 17.0% of the shares in Bygghemma Group AB (“Bygghemma” or the “Company”) from FSN Capital at a price of SEK 47.5 per share resulting in a total ownership of 20.0%.
Bygghemma is a fast-growing European online platform for DIY and Home Furnishing (“Home Improvement”) with a clear market leading position in the Nordics. Since its inception in 2006, Bygghemma has successfully expanded its product offering and broadened its geographical presence, offering customers an outstanding shopping experience through an online-first model. The company operates a scalable and data-driven business model. Based on the last twelve months as of 30 September 2019, Bygghemma reported net sales of approximately SEK 5.8 billion and adjusted EBITDA of approximately SEK 334 million. The company is headquartered in Malmö with 1,285 employees as of September 2019 and is listed on Nasdaq Stockholm.
Niklas Ringby, Partner at EQT Partners and Investment Advisor to the Fund, said: “We have followed Bygghemma for a long period of time, and are impressed with the unique position the company has built in the European Home Improvement market. Bygghemma operates in a fragmented market benefitting from clear secular growth tailwinds driven by consumer shift from offline to online. The company and its organization represent a strong platform for future organic growth and M&A. We look forward to working together with the Board of Directors and management on the next phase of their growth journey.”
EQT Public Value seeks to identify investments in public companies with strong market positions, an engaged management team and significant potential for top-line and earnings growth. Through shareholder engagement, EQT Public Value seeks to work closely with existing corporate bodies to help companies reach their full potential and deliver attractive and sustainable shareholder return. This is based on a rigorous due diligence-focused approach and the utilization of the deep knowledge and resources available throughout the EQT platform. Being an EQT Public Value portfolio company also gives access to EQT’s platform resources.
Niklas Ringby Partner at EQT Partners, Investment Advisor to EQT Public Value fund + 46 8 506 554 42
EQT Press Office, email@example.com, +46 8 506 55 334
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
Bygghemma is the leading online provider of home improvement in the Nordic region. The Company offers its customers a broad product assortment of external- and own brands at competitive prices with convenient home delivery. Sales are predominantly made online and orders are delivered directly from the supplier to the end customer, or by Bygghemma Group’s own last mile service. During the period of 2016 - September 2019 (LTM), net sales grew by a CAGR of 34 percent, with an improvement in adjusted EBITDA margin from 4.4 per cent in 2016 to 5.7 per cent in September 2019 (LTM). Based on the last twelve months as of 30 September 2019, Bygghemma reported net sales of approximately SEK 5.8 billion and adjusted EBITDA of approximately SEK 334 million. Since inception in 2006, Bygghemma has expanded its product offering, made significant operational investments and broadened its geographical presence. The company is headquartered in Malmö and had 1,285 employees as of September 2019.
More info: www.bygghemmagroup.se