November 5, 2015 - Assignment

Polaris divests Skånska Byggvaror to Byggmax

Polaris Private Equity (Polaris) and Byggmax Group AB (Byggmax) have entered an agreement whereby all the shares in Skånska Byggvaror Group AB (Skånska Byggvaror) are sold to Byggmax for SEK 741 million. In addition to funds managed by Polaris, the selling shareholders are the previous principal shareholder, senior executives and members of the board of directors and minority shareholders of Skånska Byggvaror. There is a possibility for the shareholders of Skånska Byggvaror to get an additional payment of SEK 110 million based on the financial performance of the company during 2016. 

Skånska Byggvaror is a retailer of refined building materials to DIY customers, mainly through online sales but also through physical stores and customer service. The company conducts operations in the Nordic region, mainly in Sweden and Norway.

Polaris is a Danish/Swedish private equity fund, based in Copenhagen, focusing on buy-out investments in well-established lower mid-market companies in Denmark and Sweden. Polaris currently has more than EURO 1 billion under management in three active funds. Polaris acquired Skånska Byggvaror in 2012. 

Byggmax is a retailer of building materials  with 75 stores in Sweden, 30 in Norway and 13 in Finland. The company was founded in 1993 and had sales of approximately SEK 3.5 billion in 2014. Byggmax has been listed on Nasdaq Stockholm since June 2010.

Polaris was advised by Mannheimer Swartling in the transaction. The firm’s team included Johan Lekholm, Madeleine Rydberger, Aleksander Ivarsson, Rickard Carrick, Klara Holm and Jacob Rosell Svensson.