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Storskogen acquires Swedwise

2022-03-25
Storskogen has entered into an agreement to acquire 82 percent of the shares in VSH Holding AB, the holding company of Swedwise AB (“Swedwise”), a Swedish business automation consultancy and software provider specialised in enterprise information management for large public and private clients. In 2021, Swedwise reported a turnover of SEK 76m and an EBITA of SEK 28m.

Swedwise was founded in 2010 and is headquartered in Karlstad, Sweden with an additional office in Stockholm. The company is a business automation partner offering software licenses, consulting services, educational and support services. By leveraging specialist competence, augmented by leading customisable solutions, Swedwise delivers high-quality solutions within information management, system integration and enterprise service management to a base of large customers, both private and public.

The company is led by the three founders and co-owners Roger Wall, CEO, Jonas Kallin, CFO, and Daniel Schäf, COO. All three will continue to hold a minority stake in Swedwise going forward and will remain in their current roles at the company.

“With Storskogen's philosophy of longterm value creation, we see that this is the right step for Swedwise and its continued development. We share the view of decentralized responsibility that Storskogen represents and see that the opportunities increase significantly for Swedwise with all the benefits Storskogen contributes in its offering to owner led companies,” says Roger Wall.

Swedwise will be the 8th business unit to be a part of Storskogen’s vertical Digital Services, in the business area Services. The vertical reported sales of SEK 379m in 2021, and is led by Oskar Bjursten, investment director at Storskogen.

“We are looking forward to welcome Swedwise into our portfolio of digital service companies. The company is well managed and offers deep expertise within business automation and enterprise information management, both being global macro trends in which we strongly believe. Swedwise has an attractive customer mix with a very strong business model,” says Oskar Bjursten.

SEK 103m of the consideration will be paid with newly issued B-shares in Storskogen Group AB. The subscription price for such newly issued shares will be calculated as the Volume Weighted Average Price (“VWAP”) per B-share in Storskogen Group traded on Nasdaq Stockholm during the 10 trading days up to and including the third day before closing of the transaction.[1] The new B-shares will be subject to a transfer restriction (so-called lock-up) for a period of six (6) months following the subscription of the B-shares. The acquisition is expected to be finalised in the beginning of the second quarter of 2022.

[1] Based on the closing price of the B-share on Nasdaq Stockholm on 24 March 2022, this would entail an issue of 4,627,133 B-shares in Storskogen Group AB (corresponding to a dilution effect of approximately 0.28 percent of the share capital and approximately 0.15 percent of the votes).

For more information, please contact:

Oskar Bjursten, Investment Director, Services
+46 (0)723 66 66 77
oskar.bjursten@storskogen.com

Michael Metzler, Press officer
+46 (0) 73 305 59 55
michael.metzler@storskogen.com

About Storskogen

Storskogen acquires and manages well-managed and profitable small and medium-sized enterprises within the business areas Industry, Trade and Services in the Nordic countries, DACH and the United Kingdom. On 31 December 2021, Storskogen consisted of 105 business units with a total of approximately 9,000 employees and a trailing annual turnover (RTM) of over SEK 23 billion.