Svedbergs i Dalstorp AB (publ) has acquired the British company Roper Rhodes Ltd., a well-established supplier and designer of bathroom furniture and bathroom products in the UK with over 40 years’ experience. The purchase price amounts to, on a cash and debt free basis, a maximum of GBP 90 million, of which GBP 76 million is a fixed purchase price and GBP 14 million is a maximum earn-out payment.
The acquisition gives Svedbergs a strong position in the British market and it is a part of Svedbergs’ strategy to, through organic growth and strategic acquisitions, move towards becoming the leading bathroom decorator on select markets in Europe. In line with Svedbergs’ previous acquisitions, the management of Roper Rhodes will continue to operate the business after the acquisition. Roper Rhodes’ managing director Leigh Leather will serve on the board of the Svedberg Group.
As part of the financing of the transaction and in order to ensure an optimal capital structure, Svedbergs intends to conduct a share issue with preferential rights to current shareholders of SEK 500 million during the first quarter of 2022.
Svedbergs was advised by Mannheimer Swartling in the transaction.