HomeMaid offers home cleaning, office cleaning, window cleaning and moving cleaning as well as complementary household services. The company's customers are found among both private individuals and corporate customers. In addition, the company also cooperates with several care companies around the Swedish market. HomeMaid was founded in 1997 and has its headquarters based in Halmstad.
We expect the strong momentum from the start of the year to continue, with double-digit revenue growth driven primarily by acquisitions but also supported by a strong RUT market.
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.
HomeMaid delivered a solid Q1 report, with revenue coming in ahead of our estimate and profitability in line, though margins landed slightly below our expectations.
We expect a solid start to the year with revenue growth of 28%, driven primarily by acquisitions but also supported by a resilient RUT market that continued to defy softer household sentiment during Q1.