After the Buildor aquisition, Byggmax now aquires a bigger fish in buildingware e-commerce.
Danish Polaris private equity sells Skånska Byggvaror for 760 MSEK.
The companies hope for synergies in the products offering.
Skånska Byggvaror is an online based store on do-it-yourself market for value-added building products. The company has operations in Sweden and Norway, with a product range focused on the building’s interior and exterior environments, ranging from windows and doors for storage and conservatories. The last twelve months Skånska Byggvaror reports 690 million SEK sales, a growth of approximately 20 percent year on year.
“We are impressed by Skånska Byggvaror’s ability to grow sales over time, while the company has been profitable. We see significant synergies between the companies, mainly that we can benefit from each other’s lineup to boost sales. Skånska Byggvaror’s conservatories, as they assembles and sells under its own brand, is their biggest category. The conservatories has positioned Skånska Byggvaror as a strong brand that combines good quality with low prices. The market for conservatories is considered to have good growth in the foreseeable future. ” says Magnus Agervald, CEO Byggmax Group.
Peter Ankerst at Polaris Private Equity says they have prepared a change of ownership, since last autumn, where a sale to a larger industry player has been one of the options.
“Together with Byggmax we get an opportunity to offer our audience a greater range, while we can increase sales with the help of Byggmax strong Nordic platform. We know that our customers buy building materials while implementing their projects, and in the future we will be able to provide these directly to our customers. We look forward to be working with Byggmax and continue our growth journey and build on our strong brand. ” says Anders Johansson Eickhoff, CEO of Skånska Byggvaror
Skånska Byggvaror runs four Swedish and two Norwegian stores (Grønt Fokus) and plans for three more in Sweden, integrated with Plantagen’s garden centers.
Potential additional purchase price of 110 MSEK is based on the financial performance of Skånska Byggvaror during 2016 and the transaction is subject to approval from the Swedish Competition Authority. Byggmax Group expects to complete the deal in the fourth quarter of 2015.