Altor buys Ideal of Sweden

Altor drew equity from Altor Fund IV for the deal, which is likely to be one of the last investments from the fund as the GP held a final close on €2.5bn for its fifth fund in February.

Founders Joachim Lindström and Filip Ummer, alongside EEquity, reinvested in the transaction to retain a significant stake.

After completion of the transaction, Altor will own 60% of the company while the founders and EEquity will hold 40%. The transaction results in a multiple of 10x on the shares sold, including an EBITDA-based additional earn-out, for EEquity. Ideal of Sweden is in the eEquity III fund. The VC firm's new investments are now from eEquity IV, which is a billion fund that had its first closing in November 2018.

Altor will support Ideal with the scaling of its business and international expansion plans.

Previous funding
EEquity acquired a 20% stake in Ideal of Sweden in 2017.

Company
Ideal of Sweden was founded in 2013 and is headquartered in Norrköping, Sweden. It sells mobile and fashion accessories through its website and reported sales of SEK 430m in 2018.

People
Altor Equity Partners – Stefan Linder (partner).
Ideal of Sweden – Joachim Lindström (co-founder).

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