HomeMaid sweeps up another bolt-on in Mälardalen
Summary
- HomeMaid announced the acquisition of Hello Clean's operations in Bålsta and Västerås, aligning with its strategy to consolidate the Swedish cleaning market.
- The acquisition, valued at 5.5 MSEK, is financed through internal funds and represents a trailing EV/Sales multiple of 0.5x, which is considered attractive.
- The acquired operations generate annual revenue of approximately 11 MSEK and will be integrated into HomeMaid's Home Cleaning business area, enhancing its presence in the Mälardalen region.
- The transaction is expected to close on October 1, 2026, with minor positive revisions to revenue estimates anticipated by the Q3 report.
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HomeMaid announced on Monday that it has signed an agreement to acquire the operations of Hello Clean in Bålsta and Västerås. We view the transaction positively, as it represents another strategically sound bolt-on acquisition at an attractive valuation and aligns with the company's strategy to consolidate the fragmented Swedish cleaning market. As the acquisition represents less than 2% of our 2026 revenue forecast, it will lead to only minor positive revisions to our estimates. We will update our estimates by the Q3 report at the latest.
The acquired operations generate annual revenue of ~11 MSEK, serving over 300 customers with a staff of 20 employees. The purchase price is 5.5 MSEK in cash, financed through internal funds, implying a trailing EV/Sales multiple of 0.5x. We consider this multiple attractive and in line with HomeMaid's typical valuation range for small-scale bolt-on acquisitions. The operations will be integrated into the Home Cleaning (Hemstäd) business area, strengthening HomeMaid's local presence and density in the Mälardalen region. The transaction is expected to close on October 1, 2026.
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