Relais Group PlcInsider information 5.5.2022 at 10.55 EAT
Relais Group Plc (“Bolaget”, “Relais”), the leading consolidator in the Nordic vehicle aftermarket, has signed an agreement (“Purchase Agreement”) for the acquisition of the Swedish company Skeppsbrons Jönköping AB (“Skeppsbrons”, “Företagsförvärv”). The seller is Skeppsbrons Jönköping Holding AB (“Seller”). The completion of the Business Acquisition is expected to take place during May 2022, provided that certain customary conditions for the completion of the Business Acquisition are met.
Skeppsbrons is a very profitable and professionally managed repair and maintenance workshop for heavy commercial vehicles in Jönköping, Sweden. It was founded in 1984 and has 37 employees. Skeppsbrons is a multi-brand workshop for heavy commercial vehicles and is also a certified service partner for MAN, Iveco and DAF. Ship Bronze specializes in the repair and maintenance of trucks, buses, trailers, cooling systems and elevators. The company also has special expertise in tailoring heavy military vehicles for the defense sector.
The ship’s bridge’s net sales for 2021 were approximately SEK 75.7 million and the adjusted EBITDA was approximately SEK 14.6 million. The purchase price for the shares in Skeppsbrons is estimated to amount to SEK 87.3 million, of which approximately SEK 14.0 million will be paid in new Relais shares aimed at Bengt Hestner, majority owner and CEO of Skeppsbrons Jönköping Holding AB.
Scompetition bronze Jönköping AB
1,000,000 kr |
1.1.-31.12.2020 |
1.1.-31.12.2021 |
Net sales |
75.8 |
75.7 |
EBITDA (adj.) |
14.4 |
14.6 |
EBITA (adj.) |
13.8 |
14.3 |
|
|
|
|
31.12.2020 |
31.12.2021 |
Solidity,% |
34.9% |
35.2% |
Justice |
7.5 |
9.0 |
Balance sheet total |
21.5 |
25.5 |
|
Important benefits of the company acquisition:
- The acquisition further strengthens Relais’ position as the largest independent workshop operator for the repair and maintenance of commercial vehicles Sweden.
- The acquisition enables synergy benefits especially in spare parts procurement and creates cross-selling opportunities for Relai’s own lighting and energy management products in Sweden.
- The acquisition supports the realization of Relai’s long-term strategic growth plans.
Arni EkholmCEO of Relais Group Plc:
“The aftermarket for commercial vehicles is a strong growth pillar for Relay Group in the Nordics and Skeppsbrons Jönköping AB’s strategic fit for us is excellent. Skeppsbrons is a very well-established and managed company that has been able to show very good profitability and steady growth for several years. The company has doubled its turnover in the last ten years and is today one of the most profitable companies in its industry.
Bengt Hestner and his team have skillfully developed the company into a modern and well-functioning workshop that has a strong position in its geographical region and a solid reputation among its customers. I am very proud and happy to welcome Bengt and his professional team to the fast-growing Relais family. As an industrial owner with an industry focus on the automotive aftermarket, we will be able to create a strong growth platform for Skeppsbrons. I am also convinced that together we can serve our customers even better in the future. “
Bengt Hestner, CEO of Skeppsbrons Jönköping AB:
“To be a part of Relay Group is a great opportunity for Skeppsbrons. Together, we will have the strength to develop the business and the service we offer our customers. The ship’s bridge’s mission has always been to facilitate the ownership of vehicles. We will now do this together. The team at Skeppsbrons has a long history of highly qualified service of light and heavy transport equipment and we are happy to continue this journey within Relay Group. ”
Issue related to the Company Acquisition
Relais pays approximately SEK 14.0 million of the purchase price by issuing a total of a maximum of 68,118 new shares in a directed issue arranged in connection with the Company Acquisition Relay Group shares (“consideration shares”) to the sellers of Skeppsbrons Jönköping AB shares. The rest of the purchase price is paid in cash.
The private placement will be carried out with deviation from the shareholders ‘preferential right to subscribe by decision of Relais’ Board of Directors to authorize the company’s Annual General Meeting on April 13, 2022. The private placement will be organized to develop Relais ‘operations and to finance the Company Acquisition, which is why there is a weighty financial reason for the deviation from the shareholders’ preferential rights within the meaning of the Finnish Companies Act. . The subscription price for the consideration shares is 19.79 EUR per share, which corresponds to the share’s trading volume-weighted average price on Nasdaq Helsinki First North’s emerging market during 30 trading days prior to the signing of the Purchase Agreement.
The consideration shares will represent approximately 0.38 percent of Relais’ shares and votes after the Issue. The consideration shares will entitle to a full dividend that may be distributed by Relais and to another dividend of assets and entail other shareholder rights in the Company from the time the consideration shares have been introduced in Exchange register and the company’s share register. The consideration shares will be subject to a 12-24 month suspension period from the issue according to a separate agreement.
The Company will apply for admission of the Remuneration Shares to trading on Nasdaq First North Growth Market Finland with the same share class as the Company’s old shares after the Remuneration Shares have been introduced in Exchange register.
Relais Group Plc
Board
More information:
Relay GroupVD Arni EkholmTel. +358 40 760 3323
Email: [email protected]
Certified advisor:
Evli Abp
Tel. +358 40 579 6210
Distribution:
Nasdaq Helsinki
Finansinspektionen
Key media
www.relais.fi
Relay Group
Relay Group is the leading consolidation and acquisition platform in the automotive aftermarket in the Nordic and Baltic countries. We have an industry focus on improving vehicle life cycles and related services. We also act as a growth platform for the companies we own.
We are a profitable company that seeks strong growth. We are making targeted acquisitions in line with our growth strategy and want to be an active player in the consolidation of the aftermarket within our business area. Our acquisitions are aimed at companies that have a good strategic fit with our Group companies.
Our turnover in 2021 was 237.9 euros (2020: 128.9) million. In 2021, we completed a total of six acquisitions. We have about 950 employees in six different countries. Our share is listed on Nasdaq Helsinki Ltd’s Nasdaq First North Growth Market Finland with the share symbol RELAIS.
www.relais.fi
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