TAKKT Acquires Swedish Direct Marketer for Business Equipment
Stuttgart, Germany, May 24, 2018. The TAKKT Group company Gerdmans Inredningar AB has entered into a purchase agreement with the Brady Corporation for the acquisition of 100 percent of the shares of Runelandhs Försäljnings AB. The transaction is expected to close on May 31. Runelandhs is expected to generate sales of over 145 million Swedish krona (equivalent to approximately 14 million euros) and an EBITDA margin at the lower end of the TAKKT target corridor of 12 to 15 percent in the 2017/2018 financial year, which will close at the end of July. The company will be a part of the KAISER+KRAFT group within the TAKKT EUROPE segment.
Runelandhs, founded in 1992 and based in Kalmar, Sweden, employs around 20 people and sells business and office equipment. Their product range includes around 15,000 items, which are distributed using a multi-channel approach. Runelandhs has a high level of product expertise and offers an attractive range of affordable products. So far the KAISER+KRAFT group has been represented by the brand Gerdmans in Sweden, Denmark, Finland and Norway which offers a similar product range with a stronger focus on office furniture. Together with Runelandhs, Gerdmans will become one of the leading direct marketer for business and office equipment in Sweden.
“With its complementary product range, attractive customer base and profitable growth, Runelandhs is an ideal bolt-on acquisition for KAISER+KRAFT group’s existing activities in the Nordics,” explained Felix Zimmermann, CEO of TAKKT AG. Through the merger with Gerdmans, TAKKT also wants to harness synergy potential, for example by improving purchasing conditions and broadening the product range. “Runelandhs has not operated a warehouse so far. By using the Gerdmans warehouse, we can achieve better purchasing conditions and increase product availability,” said Zimmermann.
Runelandhs has been owned by the US-based Brady Corporation since 2012. The Managing Director Sven Hansson will remain responsible for management. “We are really looking forward to being able to continue following our adopted growth strategy together with TAKKT and Gerdmans,” said Sven Hansson.
The purchase price, free of financial debt and cash, amounts to 174 million Swedish krona (equivalent to around 17 million euros). TAKKT is financing the acquisition using existing committed credit lines. “Even after the purchase, TAKKT will have sufficient free credit lines for additional company acquisitions,” explained CFO Claude Tomaszewski.
About TAKKT AG
TAKKT is the leading B2B direct marketing specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the subsidiaries comprises more than one million products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The TAKKT Group has over 2,000 employees. The company is listed on the SDAX and Deutsche Börse Prime Standard.
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