Fasadgruppen strengthens its renovation offering in southwest Sweden through the acquisition of Sydskiffer
Fasadgruppen expands in southwest Sweden through the acquisition of the historic building specialist Sydskiffer Aktiebolag (“Sydskiffer”).
Sydskiffer was founded in Halmstad in 1980 and has established a strong position within renovations of historic buildings and churches. The company is specialised in schist, a traditional and sustainable nature material that has been used in construction in Sweden since the 18th century. Sydskiffer’s main customers are found in the public sector and the Church of Sweden. Sydskiffer has 15 full-time employees, and for the financial year 2021, its revenues amounted to approximately SEK 70 million.
Johan Claesson, Business Area Manager Fasadgruppen West, said: “Sydskiffer is a great addition to our operations in southwest Sweden. The company is characterised by a thorough craftmanship and returning customers. We also see a specific strength in Sydskiffer’s extensive experience from public procurements."
Patrik Wernersson, CEO of Sydskiffer, said: “We have developed Sydskiffer’s operations for many years and are proud of our position in the renovation market for historic buildings in southwest Sweden. By becoming part of Fasadgruppen, we get increased opportunities to continue growing and we look forward to exchanging experiences with the other companies of the group.”
Fasadgruppen is using existing cash to finance the acquisition. The seller has undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next three months for an amount corresponding to SEK 15 million. The shares bought under the re-investment are subject to a lock-up commitment for 24 months. The acquisition of Sydskiffer is expected to be completed during November 2022.