Bergman & Beving signed an agreement today to divest the subsidiaries Skydda Sverige, Skydda Finland and Skydda Norge (jointly referred to as Skydda), which form the majority of the Skydda Group, to Ahlsell.
The decision to divest Skydda was based on the assessment that Skydda will have better conditions for successful growth with Ahlsell as its owner. The proceeds from the sale will be used to acquire highly profitable niche technology companies, in line with Bergman & Beving's acquisition strategy and financial targets.
For the last 12 months, Skydda had combined revenue of approximately MSEK 550 and underlying EBITA of approximately MSEK 45. The divested operations are valued at MSEK 300, excluding a possible additional purchase consideration amounting to a maximum of MSEK 80.
The transaction is subject to the approval of the competition authorities in the countries in question, which is expected to be obtained within two to six months from today's date. The divestment will generate a capital loss of approximately MSEK -270, of which MSEK 470 pertains to impairment of goodwill in the Safety Technology division. The estimated restructuring cost is expected to amount to MSEK 70.
Skydda's operations outside the Nordic region, with annual revenue of approximately MSEK 175, are not included in the transaction and will remain part of Bergman & Beving since they are an important sales channel for Bergman & Beving's product companies active in personal protective equipment.
"Bergman & Beving's basic approach is to be a long-term owner of our companies. However, given Skydda's future prospects, we do not believe that Bergman & Beving is the best long-term owner for Skydda. We have owned Skydda since it was founded in 1994, and as a responsible owner, I am proud and happy that we have found a structural solution that will be good for Skydda's employees, suppliers and customers. Having Ahlsell as Skydda's new owner will also create a good opportunity to increase the volumes of our product companies active in personal protective equipment since Skydda and Ahlsell share a common goal of expanding these volumes", says Magnus Söderlind, CEO of Bergman & Beving.
"We have followed Skydda for many years and appreciate their ability to create value for customers through strong concepts, high service level and deep technical expertise. We are looking forward to welcoming the Skydda team to Ahlsell", says Claes Seldeby, CEO of Ahlsell.
Stockholm, 27 March 2025
Bergman & Beving AB (publ)
For further information please contact:
Magnus Söderlind, President & CEO, Tel: +46 10 454 77 00
Peter Schön, CFO, Tel: +46 70 339 89 99
This information is information that Bergman & Beving is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-03-27 13:00 CET.
Bergman & Beving, founded in 1906, is a Swedish listed group that acquires and develops leading companies with an eternal ownership horizon. The Group's autonomous companies work in expansive niches where they provide value-adding solutions for industrial and construction clients. Each company operates with great freedom on the basis of a decentralized management model that has been creating growth, profitability and sustainable development for more than 100 years. Bergman & Beving is listed on Nasdaq Stockholm, has approximately 1,300 employees and a turnover of approximately SEK 5 billion. The Group consists of about 30 companies represented in more than 25 countries. Read more about our operations at bergmanbeving.com.
