Fasadgruppen continues to expand through the acquisition of Kumla Fasadteam
Fasadgruppen acquires the façade company Kumla Fasadteam AB with operations throughout mid-Sweden and the Stockholm region.
Kumla Fasadteam was founded in 1998. The operations are based in Kumla with a second office in Stockholm. Its services comprise plastering work in mostly renovation with a primary focus on city projects and historical façades. The company mostly performs turnkey contracts including façades, balconies, sheet metal and painting works. Among Kumla Fasadteam’s customers are many tenant-owner associations in the Stockholm region. Kumla Fasadteam has 25 full-time employees, and for the financial year 2020, its revenues amounted to approximately SEK 65 million.
Peter Polland, Business Area Manager Fasadgruppen East, said: “Kumla Fasadteam has a great reputation in our industry thanks to its skills and many happy customers. Its CEO Urban Eriksson also has a fantastic network that we are certain will contribute to Fasadgruppen’s continued development."
Urban Eriksson, CEO of Kumla Fasadteam, said: “In Kumla Fasadteam we have several generations of craftmanship that we turn into beautiful and sustainable façades. It feels exciting to become part of Fasadgruppen and take the next step in our development.”
Fasadgruppen is using existing cash to finance the acquisition of all shares in Kumla Fasadteam. 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 9.5 million. The shares bought under the re-investment are subject to a lock-up commitment until 11 November 2022. The completion of the acquisition is not subject to any conditions, and Kumla Fasadteam will therefore immediately become part of Fasadgruppen.