FSN acquires Kjell & Company

Following the acquisition, the company will look to open new stores in Sweden, enhance its online offering and explore the possibility of expansion into other Nordic countries. Kjell's management also invested in the deal.

ICA purchased 50% of Kjell & Company in 2006. Since then it has expanded considerably, opening four new stores in 2011 and an additional nine in 2012.

In March 2014, FSN acquired five companies to form Instalco Group, a new Swedish plumbing and electrical installation company. Capital for the Instalco deal was drawn from the FSN Capital IV fund, which reached a final close on SEK 5.25bn in November 2013. The fund was oversubscribed, with an initial target of SEK 5bn (€565m).

Debt
SEB provided debt for the deal. 

Company
Kjell & Company is a Malmö-based retailer of consumer electronic accessories with more than 600 employees and 74 stores. Although 2013 financial figures are undisclosed, the company had a turnover of SEK 816m with an operating profit of SEK 60m in 2012. It was founded in Sundsvall in 1988.

People
Peter Möller is a partner at FSN Capital. Thomas Keifer is CEO of Kjell & Company.

Advisers
Equity - Carnegie (Corporate finance); Hamilton Advokatbyrå (Legal); White & Case (Legal); PwC (Corporate finance); Bain & Company (Commercial due diligence).

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• Topics
• Nordics
• Buyouts
• Consumer
• FSN Capital
• Sweden