FSN Capital IV, FSN Capital V and FSN Capital Project Growth* divest 9 per cent of the shares in Bygghemma
The FSN Capital Shareholders* have sold in aggregate 9 663 158 shares in Bygghemma Group First AB (publ) (“Bygghemma” or the “Company”), corresponding to 9 per cent of the total number of shares in the Company, to Swedish and international institutional investors. The shares were sold at a price of SEK 69.0 per share, equal to a discount of 1.1% compared to yesterday’s closing price, but a 45.3% premium compared to the IPO price in March, 2018. The transaction realized gross proceeds of approximately SEK 667 million.
Following the share sale, the FSN Capital Shareholders own 10 per cent of the total number of shares in Bygghemma. The FSN Capital Shareholders are still one of the largest owners of Bygghemma post the transaction and will continue to support the Company’ strong development 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”).
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.
Bygghemma reported net sales of SEK 6.2bn and a total growth of 25% in the FY 2019, supported by organic growth of 13% and six acquisitions completed during the year. Adjusted EBIT amounted to SEK 330m in 2019, equal to a margin of 5.3%.
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 1,373 employees as of December 2019.
For more information please contact the following persons at FSN Capital Partners (investment advisor to the FSN Capital Funds):