FSN CAPITAL IV INVESTERER I KJELL & COMPANY
FSN Capital has signed an agreement to acquire Kjell & Co Elektronik AB from the Dahnelius family and ICA Gruppen and the Dahnelius family. The Dahnelius family, the founders of the company, will make a significant reinvestment and continue to be a significant minority owner with 25% ownership going forward with. FSN Capital IV L.P. is expected to own the remaining 75% going forward.
Kjell & Company is a leading retailer of accessories for consumer electronics in Sweden with a network of 74 stores throughout the country, as well as online sales. The company has a unique over-the-counter store concept, enabling offering high quality customer service by highly knowledgeable sales personnel, while maintaining the broadest and deepest product range in home electronics accessories.
Over the recent years, the Dahnelius family and the management team have been successful in significantly growing the company by actively expanding the store network in Sweden, as well as improving profitability. An opportunity for continued growth in Sweden, combined with the potential for international expansion, makes Kjell & Company an attractive investment opportunity for FSN Capital.
”Kjell & Company has a unique store concept and focus on electronic accessories, which, together with a strong corporate culture, have allowed the company to grow strongly and profitably in recent years. In partnership with the Dahnelius family and the management team we look forward to supporting the company in continuing that growth both in and outside Sweden” says Peter Möller, Partner at FSN Capital.
Kjell & Company’s management team and the Dahnelius family are looking forward to the new cooperation.
“In FSN Capital, we believe that we have found a partner that can help us accelerate our growth even further. Together, we will now focus on expanding our already strong store network in Sweden, online sales and also carefully evaluate the opportunity to take Kjell & Company into other selected Nordic countries” says Thomas Keifer, CEO of Kjell & Company.
Last year, Kjell & Company celebrated its 25th anniversary of the opening of the first store in Sundsvall in 1988. The company offers a broad selection of accessories for consumer electronics through a store network of 74 stores, as well as online sales. As of March 2014, the company generated LTM Sales of SEK 951m and EBITDA of SEK 110m, with continued strong growth on a store like-for-like basis as well as from new store openings. To read more about Kjell & Company, please go to the company’s website www.kjell.com (in Swedish).
Carnegie, Hamilton Advokatbyrå, White & Case, PwC Transaction Services and Bain have acted as advisors for FSN Capital during the transaction. The completion of the transaction is subject to approval by the Swedish competition authority.
For more information please contact:
Morten Welo, Head of Investor Relations, FSN Capital Partners, firstname.lastname@example.org,
FSN Capital is a leading Nordic private equity investment company focused on the middle-market segment. Originally established in 1999, FSN Capital seeks to make control investments in Nordic companies with significant potential to become international leaders.
FSN Capital seeks to act with the highest level of integrity, taking a responsible approach when interacting with our portfolio companies, our advisors, our investors, local communities and the environment.