FSN Capital IV, FSN Capital V and FSN Capital Project Growth* divest 3 per cent of the shares in BHG
The FSN Capital Shareholders* have sold in aggregate 3 454 812 shares in BHG Group AB (publ) (“BHG” or the “Company”), corresponding to approximately 3 per cent of the total number of shares in the Company. The shares were sold at a price of SEK 108.0 per share. The transaction realized gross proceeds of approximately SEK 373 million.
Following the share sale, the FSN Capital Shareholders own approximately 7 per cent of the total number of shares in BHG. The FSN Capital Shareholders are still one of the largest owners of BHG post the transaction and will continue to support the Company’s strong development as the number 1 consumer e-commerce company in the Nordics.
BHG 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”).
BHG is the number 1 consumer e-commerce company in the Nordics. BHG is present in most of Eastern and Central Europe. The Company’s strong position in these markets makes them the largest European pure-play within the Home improvement space, meaning Do-It-Yourself and Home furnishings.
BHG reported net sales of SEK 7.6bn and a total growth of 39% LTM as of June 2020. Adjusted EBIT amounted to SEK 485m LTM, equal to a margin of 6.4%.
Since inception in 2006, BHG has expanded its product offering, made significant operational investments and broadened its geographical presence. The Company is headquartered in Malmö and had more than 1,500 employees as of June 2020.
For more information please contact the following persons at FSN Capital Partners (investment advisor to the FSN Capital Funds):
Niclas Thiel, Principal
Morten Welo, Partner & COO/IR