Litorina IV will be the new majority owner of Fresks, a leading Swedish building material chain in Northern Sweden, focused on professional customers, with revenues of SEK 875 million. The Oscarson Family and the CEO, previous owners of Fresks, will retain a significant ownership together with Litorina and management.
In recent years, Fresks has shown solid growth with increased profitability and today has revenues of SEK 875 million through its 12 stores. In 2014 Fresks made the important acquisition of Gärdin & Persson further strengthening the company’s presence in Northern Sweden. Fresks sells high quality building material products with a high degree of service primarily to small and mid-sized professional customers. The company also offers ordering and sales online, as well as full installation service. Today. Fresks is the largest member of the purchasing organization Byggtrygg with the brand name XL BYGG.
“We have realized a fantastic growth journey during the last five years increasing from five to twelve outlets, and more than doubling revenues with improved profitability and have found a winning concept” says Pehr Oscarson, Chairman of Fresks and part-owner of Oscarson Invest. “With this platform it feels exciting bringing along Litorina as a new partner to facilitate an even more active expansion through acquisitions in a fragmented building material market”
“Fresks strong corporate culture with its customer focus and continuous improvement together with management’s proven ability to complete and integrate acquisitions creates an excellent platform for further development and continued growth” says Lars Verneholt, Partner at Litorina Capital Advisors, advisor to Litorina IV. “Fresks is an exciting investment and we look forward to support its management in growing the business during the coming years”
”I have worked for the Oscarson Family for six years and I see this next step, the partnership with Litorina, the Oscarson Family and management, as a testimony to the management’s work so far”, says Leif Lindholm, CEO of Fresks. “The future feels inspiring and exciting and I look forward to collaborate with Litorina in this next phase, continuing on the current path with an intensified focus on acquisitions.”
For further information, please contact:
Lars Verneholt, +46 73 386 92 07, Partner, Litorina Capital Advisors
Pehr Oscarson, +46 70 537 20 20, Chairman Fresks and Gärdin & Persson and part-owner Oscarson Invest
Leif Lindholm, +46 70 698 27 00, CEO Fresks and Gärdin & Persson
Fresks, founded in 1862 is a leading Swedish building material retail chain in Northern Sweden focused on the professional segment. The company has 12 stores under the brand XL BYGG Fresks and Gärdin & Pärsson. Fresks sells high quality building material with high degree of service primarily to small and mid-sized professional customers. For more information, please visit www.fresks.se and www.gardinpersson.se.
Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina Capital Advisors AB serves as an investment advisor to Litorina’s funds. Litorina is backed by a number of reputable institutions that have jointly invested approximately SEK 4.8 billion in Litorina’s four funds. For more information, please visit www.litorina.se.