Litorina-backed Embellence Group to list

The Swedish GP plans to list the company on Nasdaq First North Premier, with the first day of trading expected to be 24 March. It will remain a shareholder in the company after the offering.

The listing comes more than a decade after Litorina acquired a 66% stake in wallpaper manufacturer ECO-Boråstapeter via its fund Litorina III. The GP has since then bolted on numerous interior decoration companies, including Cole & Son, Wall&Decò, Perswall and Pappelina. 

Investors Strand Kapitalförvaltning, Prior & Nilsson, FE Småbolag Sverige, Gerald Engström, Provobis and Nordic Cross Asset Management have undertaken to acquire approximately 58% of the shares in the offering.

Embellence CEO Olle Svensk said in a statement that the listing was a natural step in the company's journey and that the company was aiming to double its size by 2025 by focusing on continued international expansion in the premium segment, complemented "by a clear acquisition agenda". In 2020, the company had net sales of SEK 570m and an adjusted EBITA margin of 14%.

Headquartered in the Swedish city of Borås, Embellence is a supplier of wallpaper, textiles, rugs and other interior decoration products. 

Litorina has listed two other companies on the stock exchange in 2021: Fractal Gaming Group, which listed in February; and Rug Vista, which started trading in mid-March. The IPO for the latter was priced at SEK 125 per share, corresponding to a market cap of around SEK 2.5bn. 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Consumer
• Litorina
• IPO
• Sweden