Livingstone advises Golvpoolen on its sale to Bygghemma
Leading Nordic online DIY retailer Bygghemma acquires floor and bathroom retailer Golvpoolen, strengthening its position in the flooring and tile retail market. The transaction is the latest in a long line of acquisitions in the DIY segment over the last two years. Livingstone advised Golvpoolen on the transaction.
Golvpoolen was established in 1990, initially as a floor coverings retailer. Today it has expanded its offer to become one of Scandinavia’s largest specialist retailers of flooring, tiles and bathroom solutions, offering an extensive range of leading brands. Golvpoolen, which caters to both retail and professional tradespeople, has a multi-channel proposition with four stores in southern Sweden complementing its substantial online presence.
Bygghemma.se is the leading Nordic online DIY retailer. The company has expanded aggressively since launching in 2006 and today, the group operates 12 branded and nine across the region. The group has around 500 employees across 10 offices in Sweden, Norway, Denmark and Finland, and generated turnover of over SEK 3 billion in 2016.
“We’ve had a longstanding relationship with Livingstone leading up to this deal. Golvpoolen has seen great value in the team’s experience from both the building products sector and ecommerce, which has been important in understanding our needs and opportunities,” says Christian Trolle, CEO at Golvpoolen.
“Golvpoolen and Bygghemma will form a very strong player in the floor and tile segment that will have extensive advantages thanks to its size and market breadth. We are convinced that Bygghemma’s platform and expertise in online retail will contribute to a bright future for Golvpoolen,” says Thomas Karlsson, Partner at Livingstone.
This is Livingstone’s third transaction in the Nordic building products segment in the last 12 months, as the sector undergoes a wave of consolidation. Industry consolidators are targeting profitable specialist retailers that have a clearly defined product offer, supplemented by a robust multi-channel proposition, as they seek to realise synergies in areas such as sourcing and logistics.