HomeMaid acquires assets of Söndrums Hushållstjänster AB
Summary
- HomeMaid has agreed to acquire the assets of Söndrums Hushållstjänster AB, which generates annual revenue of approximately 6 MSEK and employs 10 people, for a purchase price of 2.8 MSEK.
- The acquisition will be integrated into HomeMaid’s Home Cleaning business area, enhancing its service capacity in Halmstad, and is expected to have a small positive impact on financial estimates and valuation.
- This transaction is part of HomeMaid's strategy to consolidate the fragmented cleaning market, utilizing its strong cash flow to acquire smaller competitors at attractive valuations.
- The acquired operations will be consolidated into HomeMaid's financials from February 1, 2026, with the acquisition incorporated into estimates by the Q4 earnings release.
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HomeMaid announced on Tuesday that it has signed an agreement to acquire the assets of Söndrums Hushållstjänster AB. The acquired business generates annual revenue of approximately 6 MSEK and employs 10 people, serving roughly 160 customers. The operations will be integrated into HomeMaid’s Home Cleaning (Hemstäd) business area, strengthening the company's delivery capacity in Halmstad. The acquisition is structured as a cash transaction financed through internal funds. The purchase price amounts to 2.8 MSEK, with a smaller additional earn-out based on revenue development to be settled during 2026. However, given the size of the acquisition (<1% of 2026e revenue), it will only have a small positive impact on our estimates and valuation. We will incorporate the acquisition into our estimates by the latest in connection with the Q4 earnings release.
A bolt-on acquisition at an attractive valuation
Despite the modest size of the acquisition, we view the transaction as a classic example of the company's bolt-on acquisition strategy for the B2C business. The purchase price of 2.8 MSEK implies a backward-looking EV/Sales multiple of approximately 0.5x (excluding the potential earn-out), which we consider attractive compared to HomeMaid's own valuation, particularly given that the acquired company's profitability is comparable to that of HomeMaid's B2C segment. The acquired operations will be consolidated into the Group’s financials from February 1, 2026.
Continued execution of the M&A strategy
This acquisition aligns with HomeMaid’s strategy to consolidate the fragmented cleaning market and increase local density, in this case within Halmstad. It reinforces our view of HomeMaid’s potential to create value through systematic M&A, utilizing its strong cash flow to acquire smaller competitors at lower multiples. As the closing takes place in February 2026, the transaction will lead to small positive revisions to our estimates for 2026 and subsequent years. We will incorporate the acquisition into our estimates by the latest in connection with the Q4 earnings release.