FSN Capital IV, FSN Capital V and FSN Capital Project Growth* divest 25 per cent of the shares in Bygghemma

The FSN Capital Shareholders* have sold in aggregate 26 842 106 shares in Bygghemma Group First AB (publ) (“Bygghemma” or the “Company”), corresponding to 25 per cent of the total number of shares in the Company, to Swedish and international institutional investors. Following the transaction, the FSN Capital Shareholders are pleased to welcome EQT Public Value Fund as a new substantial shareholder in Bygghemma. The shares were sold at a price of SEK 47.5 per share, in line with yesterday’s closing price and the IPO price, realising gross proceeds of approximately SEK 1.3 billion.

Following the share sale, the FSN Capital Shareholders own 29 per cent of the total number of shares in Bygghemma. The FSN Capital Shareholders remain the largest owner of Bygghemma post the transaction and continue to support the Company as the leading Nordic online provider for home improvement.

Bygghemma was listed on Nasdaq Stockholm on March 27, 2018.

* 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. through its wholly owned subsidiary Builder IV Holdings Limited (“FSN Capital IV”), FSN Capital GP V Limited acting in its capacity as general partner for and on behalf of each of FSN Capital V L.P., FSN Capital V (B) L.P. and FSN Capital V Invest L.P. through its wholly owned subsidiary Builder V Holdings Limited (“FSN Capital V”), and FSN Capital Project Growth GP Limited acting in its capacity as general partner of FSN Capital Project Growth Co-Investment LP (“FSN Capital Project Growth”) (together, the “FSN Capital Shareholders”).

About Bygghemma
Bygghemma is the leading online provider of home improvement in the Nordic region. The Company offers its customers a broad product assortment at competitive prices with convenient home delivery. Sales are predominantly made online and most orders are delivered directly from the supplier to the end customer.

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.

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

Niclas Thiel, Principal
nt@fsncapital.com

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