FSN Capital IV*: Kjell & Company enters Denmark by acquiring the online retailer AV-Cables.dk

FSN Capital IV*: Kjell & Company enters Denmark by acquiring the online retailer AV-Cables.dk

Kjell & Company AB has acquired 100% of the shares in AV-Cables, a leading online retailer of consumer electronics accessories in Denmark. Through the acquisition, Kjell will strengthen its position as a leader within consumer electronics accessories in the Nordics and create a strong platform with a presence in Denmark, Norway, and Sweden.

AV-Cables was founded in 2006 and has since grown rapidly while maintaining good profitability. In 2020, the firm’s revenue reached a record high of over DKK 200m with an EBITDA of around DKK 30m. AV-Cables offers more than 23,000 SKUs of consumer electronics accessories online to more than half a million customers in Denmark, with delivery within 24 hours served from its central warehouse of 4,300m² in Jylland. The products offered by AV-Cables complement Kjell & Company’s more than 10,000 SKUs. The companies will work together to improve their offerings on each other’s online platforms and Kjell & Company’s 129 service points in Sweden and Norway.

Andreas Rylander, CEO at Kjell & Company: “Through the acquisition, we strengthen the operations of both firms. Kjell & Company and AV-Cables complement each other in both product offering and geographic reach with a shared passion for our customers. We are very much looking forward to work with AV-Cables and together drive our growth forward on all our markets”

Kjell & Company’s revenue increased by almost 7% in 2020 to reach circa SEK 2bn, with an EBIT margin of circa 7%^¹. Behind the growth lies a combination of stable growth of customer members, high-quality customer service and advice, quick online deliveries, and seamless integration of service points and the online platform. The combined entity will pro forma have a total revenue of circa SEK 2.3bn^¹.

Christian Damgaard Møller, CEO, and founder of AV-Cables: “We have a very positive view on becoming a part of an extremely successful player within the consumer electronics accessories market. Our possibilities to grow rapidly together with Kjell & Company are unique, by both selling Kjell & Company’s products on our webpage and offer our products through their omnichannel platform”

CEO Christian Damgaard Møller and the management team of AV-Cables will continue to run the business from Denmark. Christian Damgaard Møller will, as part of the deal, become a co-owner of Kjell & Company.

The transaction is pending regulatory approval from relevant authorities.

1. The accounts are pro forma and preliminary and not revised. Kjell & Company has in 2020 converted IFRS. AV-Cables accounts are not converted to IFRS.
* FSN Capital GP IV Limited acting in its capacity as general partner for and on behalf of each of FSN Capital IV L.P., FSN Capital IV (B) L.P. and FSN Capital IV Invest L.P.

For more information, please contact the following persons at FSN Capital Partners (investment advisor to FSN Capital IV):

Simon Larsson, Investment Director
sl@fsncapital.com

Morten Welo, Partner & COO/IR
mw@fsncapital.com