Bravida Holding AB: Bravida Strenghtens Its Position in Stockholm by Acquiring the Björnberg Group

Regulatory News:

Bravida Holding AB (STO:BRAV) (STO:BRAV001)

Bravida acquires the installation and service company Björnberg Group in Stockholm. The company, a leading provider of heating and plumbing in the region, has about 170 employees and a turnover of around SEK 290 million.

Bravida has entered upon an agreement to acquire all shares in the Björnberg Group, including the four subsidiaries AB CJ Björnbergs, Björnbergs Industri AB, Effektrör AB and Ejnar Björklunds Rör AB.

The Björnberg Group, founded in 1928, is a leading integrated supplier of installation and service within the areas of heating, plumbing and industrial pipes in Stockholm and the Mälardalen region, and, with its industrial products, also nationally.

– For Bravida, this is a strategically important step. The Björnberg Group complements us well. Besides providing a stronger position in Stockholm and the Mälardalen region, two areas of rapid growth, the acquisition gives us a substantial addition of competencies in heating and plumbing. Also, this strengthens our role as a supplier to Swedish industrial companies, says Mattias Johansson, CEO and Group President of Bravida.

The company is currently owned by Evolver Investment Group Ab, an investment company from the Finnish Åland islands, and a number of key employees within the Björnberg Group.

– The transaction is an important recognition of the successful development and consolidation that have been made within the Björnberg Group during the past three years. It is with pride and joy that we hand over the ownership to one of the leading suppliers of installation and service in the Nordics. We see Bravida as an optimal new owner for Björnbergsgruppen, says Erik Flodin, partner at Evolver Investment Group and a board member of the Björnberg Group.

– With Bravida as our new owner, our overall offering will become considerably stronger, thereby increasing our possibilities to create greater value for our customers. At the same time, our employees will be able to keep developing within the company, says Anders Mattsson, CEO and Group President of the Björnberg Group.

Initially, Bravida will acquire 79 percent of the shares. The remaining shares will be acquired within 2.5 years.

The acquisition requires approval from the Swedish Competition Authority. Bravida estimates to assume ownership as per 1 July 2016.

Bravida is a leading multi-technical service provider i the Nordics, with about 9,000 employees. Bravida delivers specialist services as well as complete electrical, heating and plumbing, and HVAC solutions, offering everything from design and project planning to installation, operation and maintenance. Bravida is represented in around 140 locations in Sweden, Norway, Denmark and Finland. www.bravidagroup.com/en/

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