Litorina-backed Fresks acquires XL-Bygg Mellerud

Previous owner and company founder Benny Mattsson will reinvest a significant part of the proceeds from the transaction in Fresks Group.

Fresks was acquired by Litorina in January 2016 with capital invested from the Litorina IV fund. Since then, Fresks acquired building materials retailer Färingsö Trä in January, and bought competitor Urban Strålin Byggvaror in June this year.

After the latest acquisition, Fresks will have a total of 32 stores with pro forma revenues of around SEK 2bn, employing a staff of 500.

Previous funding
Litorina acquired a majority stake in Swedish building materials retail chain Fresks from the company's founding family in 2016. The deal saw Litorina buy into Fresks through the GP's 2010-vintage Litorina IV, a SEK 2.525bn fund focused on the Swedish small-cap and mid-markets.

Company
Founded in 2008 and headquartered in Mellerud, Västra Götaland, XL-Bygg Mellerud was initially run by founder Benny Mattsson, until his son Thomas Mattsson took over in 2012. The business consists of one building store in Mellerud, which is located in Dalsland county in Västra Götaland. Today, the company has eight employees and a turnover of approximately SEK 30m.

People
Litorina Capital Advisers – Lars Verneholt (partner).
Fresks Group – Pehr Oscarson (chairperson); Leif Lindholm (CEO).
XL-Bygg Mellerud – Benny Mattsson (founder).

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• Topics
• Portfolio management
• Nordics
• Consumer
• Sweden
• Build-up
• Litorina