Livingstone advised Swedwise on sale to Storskogen

  • Apr 2022
  • Media & Technology
  • M&A: Sell-Side
  • Sweden

Livingstone has advised the owners of Swedwise AB (“Swedwise” or “The Company”) on a sale to Storskogen. Storskogen acquires an 82% stake in VSH Holding AB, Swedwise’s holding company. Swedwise will be the eighth business unit to be part of Storskogen’s vertical digital services. The vertical entity will have sales of approximately SEK 380 million (39MM USD) in 2021 and will be led by Oskar Bjursten, Investment Director at Storskogen. The previous owners will remain as shareholders and will be involved in the day-to-day business following the transaction. Livingstone acted as the exclusive financial advisor to Swedwise.

Swedwise was founded in 2010, and grown into a leading specialized IT company focused on system integration and information management. Through a combination of leading software licenses and a high level of expertise, Swedwise is able to offer its customers tailor-made solutions in the area of ​​information management and system integration. Swedwise enables its customers to take control of their information channels, create integration opportunities between ERP systems and automate business processes through digitization. The company currently has offices in Karlstad and in Stockholm and achieved an operating margin of 37% in 2021.

The transaction is the result of a competitive, structured sales process during which Livingstone highlighted the company’s unique business model and strong growth opportunities.

I had great confidence in the Livingstone team. They were very professional, listened to our requests and guided us through a very well structured process. I am deeply impressed by how quickly and well they understood our business model and how well they communicated our value to potential buyers, ” stated Jonas Kallin, CFO and co-owner of Swedwise.

Swedwise’s attractive business model with a high proportion of recurring license income from long-term contracts and complementary consulting services has led to significant market interest. The need to digitize the flow of information is evident in most industries and will only increase in the future. Swedwise has managed to establish a market-leading position as a key partner for companies and regions in the Nordic countries,” commented Marcus Åström, Director at Livingstone.

“ We look forward to welcoming Swedwise to our portfolio of digital services companies. The company is well run and has deep expertise in business automation and enterprise information management, both global macro trends in which we strongly believe. Swedwise has an attractive customer structure and a very strong business model,” shared Oskar Bjursten, Investment Director at Storskogen.

Storskogen acquires and develops well-managed and profitable small and medium-sized companies in the industrial, commercial, and service sectors in the Nordic countries, the DACH region, and the UK. As of December 31, 2021, Storskogen comprised 105 business units with a total of approximately 9 000 employees and annual sales of more than SEK 23 billion (2.5BN USD).

This Media & Technology transaction follows the sale of Adtoox to Peach, the sale of Bombayworks to Storskogen, and the sale of PDSVISION to CapMan.

Hansen Advokatbyrå acted as legal advisor to Swedwise during the sales process.

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