HomeMaid: A clean deal at an attractive price
Summary
- HomeMaid announced the acquisition of Green Clean Sverige AB's operations in Gävle, aligning with its strategy to consolidate the Swedish cleaning market.
- The acquisition, valued at 2.1 MSEK, is financed through internal funds and represents a trailing EV/Sales multiple of approximately 0.4x, which is considered attractive.
- The acquired operations generate annual revenue of about 5 MSEK, serving over 180 customers with 10 employees, and will be integrated into HomeMaid's Home Cleaning business area.
- The transaction is expected to close on June 1, 2026, with minor positive revisions anticipated in revenue estimates before the Q2 report.
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HomeMaid announced on Tuesday that it has signed an agreement to acquire the operations of Green Clean Sverige AB in Gävle. 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. Given the small size of the acquisition, representing less than 1% of our 2026 revenue forecast, it will lead to only minor positive revisions to our estimates, and we will revisit these before the Q2 report at the latest.
The acquired operations generate annual revenue of ~5 MSEK, serving over 180 customers with a staff of 10 employees. The purchase price is 2.1 MSEK in cash, financed through internal funds, implying a trailing EV/Sales multiple of roughly 0.4x. 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 Gävle. The transaction is expected to close on June 1, 2026.