Byggmax completes the acquisition of all outstanding shares in Skånska Byggvaror.
Skånska Byggvaror is an online based retailer in the do-it-yourself market for refined building material. The Company has operations in Sweden and Norway with an assortment focused on the building’s interior and exterior environments, ranging from windows and doors to storage and conservatories.
Over the last 12 months Skånska Byggvaror had net sales of SEK 690 million, growing by approximately 20 per cent year-on-year
Total consideration is SEK 936 million, comprised of both the purchase of the shares as well as refinancing of the loans in Skånska Byggvaror.
In addition to the initial purchase price there is a possibility for the shareholders of Skånska Byggvaror to get an additional payment of SEK 110 million, if the EBITDA in 2016 exceeds SEK 67 million, with a maximum pay-out at an EBITDA of SEK 79 million or above.
Anders Johansson Eickhoff, CEO of Skånska Byggvaror, becomes a member of the management team of Byggmax.
The potential additional payment is based on Skånska Byggvaror’s financial performance during 2016. The transaction will have a positive impact on Byggmax’s earnings per share.