Sweden – Pion Group acquires Dreamwork Scandinavia
November 28, 2022
Pion Group (POOL-B:STO), formerly known as Pooliaannounced that today it has signed an agreement to acquire Dreamwork Scandinavia AB and its subsidiaries.
The group will acquire 100% of the shares in Dreamwork. The transaction takes effect on January 3, 2023 and the purchase price is SEK 45 million (EUR 4.1 million) plus net cash. Of the purchase price, SEK 12 million (EUR 4.1 million) is paid in shares in Pion Group. The price of the shares is set at SEK 11.58 (€1.07) and is based on the volume-weighted average price over the last twenty trading days.
Dreamwork was established in 2006 and has a strong market position in southern Sweden. The company has extensive experience in consulting, recruitment and executive search and they also have staffing activities aimed at industrial and warehouse personnel.
Dreamwork Group is expected to have a turnover of SEK 160 million (EUR 14.7 million) this year with an EBIT of close to 5%.
The operations within Lisberg will be an independent subsidiary within the Pion Group, while the operations in the rest of Dreamwork will be merged with Poolia and Uniflex.
The seller is Dreamworks’ founder and main owner Mats Kullenberg, as well as a handful of private investors and six people in the staff.
Kullenberg, together with the management, will continue in leading key roles within Pion Group and will also be a shareholder in Pion Group.
Kullenberg said: “Myself and our staff are very much looking forward to working together with the Pion Group. We see synergy effects in several areas and our profitable business, digitization strategy and strong position will contribute both competence and customers to the companies within the Pion Group. . “
Jan Bengtsson, CEO Pion Group, says, “Through the acquisition, we gain access to Dreamworks’ innovative expertise in digitization, which benefits all companies within the Pion Group. With Dreamworks’ mission, to contribute to the development and success of individuals and organizations, we are taking a step closer to our vision, A world where people are important, driven by technology, while at the same time strengthening our consulting and recruitment activities Through Dreamworks’ subsidiary Lisberg Executive Search, we gain an even stronger position in that market as well.