Landvetter’s operations are based in Mölnlycke with focus on sheet metal works in Gothenburg and surrounding areas. The company primarily works in new construction, with Skanska and Hällingsjöhus among its largest customers. Landvetter has 5 full-time employees, and for the latest financial year, its revenues amounted to approximately SEK 9 million.

The acquisition takes place in the form of a transfer of assets where Fasadgruppen’s subsidiary Er-Jill Byggnadsplåt acquires the entire operations of Landvetter, including customer contracts, work tools, brand and employees.

Johan Claesson, Business Area Manager Fasadgruppen West, said: “With its focus on new construction, Landvetter is a perfect addition to Er-Jill which primarily works in renovation. We have good experience from previous cooperations with Landvetter and look forward to strengthening our position within sheet metal in Gothenburg."

Peter Bodin, co-owner and project manager at Landvetter, said: “To become part of Fasadgruppen and Er-Jill feels great. We have a clear niche with strong customer relationships in Gothenburg and look forward to taking the next step in our development together with Er-Jill and the other Fasadgruppen companies.”

Fasadgruppen is using existing cash to finance the acquisition of all shares in Landvetter. 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 0.3 million. The shares bought under the re-investment are subject to a lock-up commitment until 1 December 2022. The completion of the acquisition is not subject to any conditions, and Landvetter will therefore immediately become part of Fasadgruppen.