Coor acquires Skaraborgs Städ
Coor today signed an agreement relating to the acquisition of Skaraborgs Städ, a well-run family business that delivers workplace services, mainly focused on cleaning, for a large number of customers in Västra Götaland, Småland and Värmland. The acquisition increases Coor’s geographical coverage in Sweden.
Skaraborgs Städ has 800 employees and annual sales of some SEK 400 M. The purchase consideration (on a cash and debt free basis) amounts to SEK 250 M and corresponds to an EV/EBITA multiple of approximately 7x in relation to current EBITA.The acquisition is financed entirely within the framework of Coor’s existing financing.
Skaraborgs Städ includes the affiliates Städtjänst Värmland, Kristinehamns All Rent and Sanmix.
“The acquisition of Skaraborgs Städ increases our geographical coverage and the company is a close fit with Coor’s growth strategy. It is a well-run company with high customer loyalty and a long history of quality and profitability. We really look forward to welcoming new competent employees to Coor,” commented AnnaCarin Grandin, President and CEO of Coor.
The acquisition of Skaraborgs Städ will be completed following the customary review by the Swedish Competition Authority. The transaction is expected to be completed in the second quarter 2023.
Please find more information, images etc. at www.coor.com or contact:
AnnaCarin Grandin, President and CEO, Coor
+46 10 559 57 70
Andreas Engdahl, CFO and IR Director, Coor
+46 10 559 54 63
Magdalena Öhrn, Communications Director, Coor
+46 10 559 55 19
This is information that Coor Service Management Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on 4 April 2023
As the leading provider of facility management services, Coor aims to create the happiest, healthiest, and most prosperous workplace environments in the Nordic region. Coor offers specialist expertise in workplace services, property services and strategic advisory services. Coor creates value by executing, developing, and streamlining our customers’ service activities. This enables our customers to do what they do best.
Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including ABB, Aibel, the Danish Building and Property Agency, DNV, DSB, Ericsson, Equinor, ICA, Karolinska University Hospital in Solna, PKA - “Danish Police, Public Prosecution Authority and Prison and Probation Service”, PostNord, Saab, Sandvik, SAS, Skanska, Telia Company, Vasakronan and Volvo Cars.
Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com