Livingstone advised digital growth consultancy Bombayworks on sale to Storskogen

  • Apr 2021
  • Media & Technology
  • M&A: Sell-Side
  • Sweden

Livingstone has advised the owners of Bombayworks on its sale to Storskogen. Livingstone was the exclusive advisor to Bombayworks.

Bombayworks is a digital growth consultancy that combines business sense, creativity, and technology to achieve measurable results. Since its founding in 2007, the Company has delivered successful digital projects, products, and services to clients, including Electrolux, Orkla, Toyota, Academic Work and Ikea. Bombayworks has approximately 70 employees with offices in Stockholm, Malmö, Gothenburg, and Mumbai, India, and recorded a revenue of c. SEK 70m (USD 8m) in 2020.

In this transaction, Storskogen acquires a majority of the shares in Bombayworks. The previous owners will maintain a minority position and continue to manage operations following the transaction.

Livingstone’s team has been a reliable source of support during this journey. Their experience has taken us through several challenges in a well-structured sales process. We’ve especially appreciated their ability to realize our long-term ambitions,” stated Niklas Roupé, CEO and minority owner at Bombayworks.

Storskogen is a private equity company founded in 2012, with a mission to acquire and operate a diversified group of profitable companies with strong market positions. At the end of 2020, Storskogen owned 58 business units with a total turnover of SEK 9 billion (USD 1b).

This Media & Technology deal follows the sale of Fastighetssverige and Lokalförlaget to Byggfakta Group, the sales of PDSVISION to CapMan, and the sales of iBiz Solutions to Visolit (TeleComputing).

Morris Law was the legal advisor to Bombayworks during the process.

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