Carnegie acted as sole financial adviser to BHG in the acquisition of HYMA from Verdane and management

BHG Group AB (publ) (“BHG”) has entered into an agreement to acquire 92.2% of the shares in HYMA Skog & Trädgård AB (“HYMA”). HYMA holds a leading market position in a number of BHG’s core categories such as garden, tools and leisure with a broad portfolio of external and proprietary brands. The acquisition will further strengthen BHG’s breadth and depth in key DIY categories, creating favourable opportunities for continued growth in BHG’s online platforms in the Nordic region. The consideration for 100% of the shares comprises an initial consideration amounting to approximately SEK 1,100 million. BHG will pay SEK 542 million in cash consideration and SEK 458 million through issue in kind. In addition, there is an earn-out based on EBITA for 2022 of up to SEK 500 million. Following the share consideration, HYMA’s owners including its current main owner Verdane and HYMA’s management team, will become shareholders in BHG. The initial consideration will be paid on closing, which is expected to take place in the third quarter of 2021.

HYMA has a long history of strong and profitable organic growth supplemented by strategic acquisitions. The company’s sales for the 2020 financial year increased 28% compared to the previous year to SEK 744 million and its EBITA margin amounted to just over 7%. The sales growth accelerated to 46% during the period 1 January-30 April 2021 which means that sales for the full year 2021 are expected to amount to just over SEK 1,100 million with an EBITA of approximately SEK 80 million. BHG sees opportunities for significant synergies through scale and sourcing advantages, cross-selling and sharing of best practices. 

Carnegie acted sole financial adviser in connection with the transaction.

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