Troax AB acquires Svenska Cykelrum AB
Hillerstorp 3[rd] of October 2022, 14:00 CET
Troax AB, which is a part of the Troax Group continues to extend its offering by entering into an agreement to acquire all outstanding shares in the Swedish company Svenska Cykelrum AB (“Svenska Cykelrum”).
Svenska Cykelrum is a company that specializes in indoor solutions for storage of bicycles mainly on the Nordic markets. It is headquartered in Stockholm, Sweden. The company turnover is 2 M€ with a solid profitability and was founded in 2013.
"I am happy to announce that Svenska Cykelrum is joining the Troax Group. Svenska Cykelrum has in short period of time established itself as one of the market leaders in its segment in the Nordics. We will initially offer the solutions within the Nordic region, but we expect to expand into other markets over time”, says Jonas Rydqvist, Regional Manager of Troax Nordic.
"By joining Troax, we will be able to continue to improve our customer service, grow our business and strengthen our team. Together with the Svenska Cykelrum team we look forward to the cooperation with Troax”, says Lars Ljungbertz Managing Director of Svenska Cykelrum.
The acquisition will be financed within Troax’s existing cash on a cash-free/debt-free basis. A performance-based additional payment may occur during 2022-2025 conditional on a continued high operating profit and growth. The transaction is expected to close today. The transaction costs occurring during third quarter is not expected to be material.
The acquisition is not expected to materially affect Troax earning per share or net debt / EBITDA.
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For further information, please contact:
Thomas Widstrand, President & CEO
Tel +46 (0)370-828 31
Mikael Carlsson, Head of M&A
Tel +46 (0)370-828 75
Jonas Rydqvist Regional Manager Troax Nordic
Tel +46 (0)370-828 35