Fasadgruppen continues to grow through the acquisition of Åby Fasad
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Industri |
| Industri | Anläggning & bygg |
Fasadgruppen has entered into an agreement to acquire Åby Fasad, the largest masonry and plastering company in Östergötland County in Sweden with strong local market positions in the cities of Norrköping, Linköping and Finspång.
Åby Fasad was founded in 1976 and is active within renovation and new construction of masonry and plastered façades. The company is a third-generation family-run business operated by the brothers Christian and Andreas Carinci, who will continue to work in their current roles. Åby Fasad engages in both small and large projects and may offer turnkey contracts that include the entire or parts of the building shell such as windows, roofs and balcony glazing. Previous projects include the Vårdtornet block in Norrköping, which was awarded the ‘Façade of the Year’ award in 2019, renovation of Finspång castle and many different residential properties in Norrköping and Linköping. Åby Fasad has 44 full-time employees and is expected to report revenues of approximately SEK 55 million for the broken fiscal year that ends on 30 June.
Mats Karlsson, Business Area Manager Fasadgruppen South, said: “We have known Åby Fasad for many years and met them in different projects. It is a solid façade company that puts quality first and possesses deep craftmanship skills. Through Åby Fasad, we get a strong exposure to Östergötland County, which is a geographic area that Fasadgruppen hasn’t focused so much on before.”
Christian Carinci, CEO and project manager at Åby Fasad, said: “Åby Fasad was founded by our father and grandfather, and it is with great pride of our profession that we have carried on the business. It now feels exciting to become part of Fasadgruppen and take Åby Fasad to the next level. We believe that there are many things that unite us with the other companies in the group, such as the passion for a sustainable and long-term development of the society through our services.”
Fasadgruppen intends to complete the acquisition of all shares in Åby Fasad on 1 July 2021. Fasadgruppen is using available credit facilities and existing cash to finance the acquisition. The seller has undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next three months for an amount corresponding to SEK 10 million. The shares bought under the re-investment are subject to a lock-up commitment during the twelve months that follow the acquisition.