Livingstone’s Industrial sector team has advised the shareholders of Fresks and Gärdin & Persson on the sale of the business to Litorina IV, which has acquired a majority stake in the business. The Oscarson Family, CEO Leif Lindholm, and the management team, previous owners of Fresks, retain a significant shareholding in the company.
Fresks, a leading Swedish building materials chain in Northern Sweden, sells high quality building materials primarily to small and mid-sized professionals. The company also offers product ordering and sales online, as well as installation services. The company has shown solid growth and increased profitability and has today revenues of more than SEK 875m ($104m).
“In the last five years, Fresk has increased the number of outlets from five to 12, more than doubling revenue.” said Pehr Oscarson, Chairman of Fresks. “With Litorina as a new partner, we can pursue our growth strategy through more acquisitions in a fragmented building material market.”
“Fresks’ strong corporate culture, together with the management’s proven ability to complete and integrate acquisitions, creates an excellent platform for further development and continued growth” commented Lars Verneholt, Partner at Litorina Capital Advisors, advisor to Litorina IV. “Fresks is an exciting investment and we look forward to supporting its management team in growing the business during the coming years.”
”A fragmented market, with a large potential for consolidation, combined with Fresks’ strong market position and dedicated management attracted significant interest for the company. With Litorina as a new majority shareholder, Fresks has a great opportunity to expand into a leading Swedish building materials chain for professional customers.” added Thomas Karlsson, Partner at Livingstone Stockholm.