Litorina Coinvest 1 AB (“Litorina”) has agreed to sell its remaining shares in Embellence Group AB (publ) (“Embellence”), a global house of premium brands. Under Litorinas ownership, Embellence has gone through significant change, developing, and positioning the company for profitable international growth.
Litorina has entered into an agreement to sell approx. 7% of the shares and votes in Embellence to a consortium of long terms investors led by Sundling Wärn Partners AB. In parallel Litorina has divested approx. 3% of the shares and votes, in Embellence to non-executive directors of the Embellence board as well as to Embellence’s management. After these transactions, Litorina has concluded its holding in Embellence. The divestment times well with Litorina Coinvest 1 AB majority owner, Litorina III LP, winding up, which is planned for the second half of 2022.
Litorina invested in Embellence in 2010, by then called WallVision, and has together with a dedicated management team developed the business from being predominately a domestic wallpaper company to become a global house of premium brands within textile, rugs, wallpaper, pattern-based window film and other interior decoration, present in more than 90 market with five major premium brands. Embellence was listed on First North Premier Growth Market in March 2021.
“Embellence has seen a profound development during Litorina´s 12 year holding period. It is now time to hand over to new shares holders as Embellence continues its journey. With a highly committed and experienced Board of Directors and management team in place, Embellence has a great position for further growth and internationalisation towards its vision”, says Paul Steene, Partner, Litorina Capital Advisors AB.
For the financial year ending 2021, Embellence had a turnover of SEK 646,9 m and achieved an adjusted EBITA margin of 15,4%.