Bisnode signs agreement to divest WLW
Bisnode has signed an agreement to sell the company “Wer liefert Was?”(WLW) in Austria, Germany and Switzerland to the German private equity company Paragon Partners. The divestment is in line with Bisnode’s strategy to focus on growth and development in its core business. The purchase price amounts to EUR 79 million (SEK 710m) and is expected to generate a capital gain for Bisnode of approximately EUR 20 million. In connection with completion of the transaction, Bisnode will carry out a capital distribution of around SEK 215 million to the shareholders.
WLW, which offers online search services for companies, has a leading market position in the German-speaking countries. The company, founded in 1932, has around 200 employees and is headquartered in Hamburg. Bisnode acquired WLW in 2008 and in 2010 the company posted revenue of EUR 31.1 million.
“WLW has developed well in the past four years and today has a solid platform for growth in online supplier search services. Bisnode’s strategy is to focus on development and growth in our core business and we have therefore decided to sell WLW, which operates according to another business model and has limited synergies with our other activities,” says Fredrik Åkerman, Acting President and CEO of Bisnode.
The sales price amounts to EUR 79 million and the enterprise value to EUR 55.5 million. The capital gain for Bisnode is estimated at approximately EUR 20 million. The transaction is expected to be completed during the first quarter of 2012. In connection with completion of the transaction, Bisnode will carry out a capital distribution of around SEK 215 million to the shareholders.
For additional information contact:
Fredrik Åkerman, Acting President and CEO, Bisnode
Tel: +46 704 15 23 65
Elin Ljung, Corporate Communications Director, Bisnode
Tel: +46 708 66 10 40
Bisnode is one of Europe’s leading providers of digital business and decision support information, with a complete offering of online services for market, credit and business information. Bisnode’s business information services helps companies to increase sales, reduce business risks and improve their daily business decisions. Bisnode was founded in 1989 and has more than 3,000 employees in 17 European countries. Bisnode is owned 70 per cent by Ratos and 30 per cent by Bonnier. For more information visit www.bisnode.com