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Family-owned Hedin Group welcomes Erik Selin as new shareholder, restructures and lay the foundations for continuous expansion
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The Hedin family welcomes Erik Selin as new shareholder and look forward to developing the group further to an even more important European actor in the automotive sector, at the same time a new group structure is launched.
”The automotive sector is changing and we are currently facing a strong expansion phase, both in Sweden and Europe and I am very positive that Erik, in addition to his engagement in the board, also wants to become an owner of the company. With a strong and competent shareholder on board we can expand even faster, which enables further growth and international expansion”, says Anders Hedin, CEO and majority shareholder in I.A. Hedin Bil.
I.A. Hedin Bil has today resolved upon a directed new share issue of SEK 3.57 billion in which Erik Selin, through an indirect wholly owned company, enters as holder of 25 percent of the shares in the Company.
In this connection, the general meeting also decided on a new group structure were all automotive related companies in the Hedin group from today will be held by I.A Hedin Bil AB. These companies include Car to Go Sweden AB, Unifleet AB, Mabi Mobility AB, Hedin MG Sweden AB, Hedin HMC Motor Company AB, Hedin Automotive Switzerland AB, Klintberg & Way Group AB, Hedin IT AB with all subsidiaries as well as shareholding of approx. 23 percent in Pendragon PLC and approx. 24 percent Lasingoo Sverige AB.
Following the aforementioned new share issues 75 percent of the shares in I.A. Hedin Bil are still controlled by the Hedin family.
Through the restructuring the I.A. Hedin Bil group will increase its annual turnover with approximately SEK 10 billion and expects to reach a total turnover of SEK 35 billion and a sale of 125 000 vehicles in Europe for 2021.
“I have been a member of the board of I.A. Hedin Bil for a few years and have been following the exciting growth of the Hedin Group and I am very pleased and positive to continue the journey with the group and the Hedin family as a partner”, says Erik Selin.