Relais Group company STS acquires Team Verkstad Sverige AB
Relais Group Plc
PRESS RELEASE – 5 July 2024 at 9:30 am EEST
Relais Group Plc group company STS Sydhamnens Trailer Service AB has on 5 July 2024 agreed to acquire Team Verkstad Sverige AB from Vy Buss AB. Team Verkstad Sverige AB provides maintenance and repair services for buses and other heavy commercial vehicles, and it employs approximately 34 professionals. After the completion of the acquisition, Team Verkstad Sverige AB’s operations comprise one workshop and one damage repair workshop in Partille, near Gothenburg, Sweden. Through the acquisition, STS strengthens its position in the strategically important Gothenburg area and gains valuable expertise in bus repair and maintenance services.
After carving out operations that are not part of the transaction scope, the annual net sales of Team Verkstad Sverige is approximately SEK 60 million and annual operating profit approximately SEK 2 million.
Closing of the transaction is subject to authority approval under the Swedish Act on Screening of Foreign Direct Investments and to certain other customary conditions. Closing of the transaction is expected to take place 1 October 2024. After closing, the acquired company and the workshops will keep the Team Verkstad name for a transition period of up to one year.
Stefan Klingberg, Managing Director of STS:
“I’m very happy to announce that we have come to an agreement to acquire Team Verkstad Sverige from Vy Buss. Gothenburg is the second largest market in Sweden after Stockholm, and we have been looking for possibilities to grow our business in this region. The acquisition of Team Verkstad Sverige, which is strong on buses and trucks, will be an excellent complement to our current workshop in Gothenburg, which is more focused on trailers. I look very much forward to working together with all the great employees at Team Verkstad in Partille.”
Robert Nyberg, Managing Director of Vy Buss AB:
“Following our strategic decision to divest the Swedish workshop business, we wanted to find a buyer who could reliably continue to support us and the other workshop customers, and take good care of our employees after a change of ownership. We strongly believe that STS, who is part of a Nordic group of companies in the vehicle aftermarket, and as a nationwide commercial vehicle repair and maintenance chain, is perfectly suited to take on the responsibilities of the workshops and that it will be a good home for the customers, suppliers and employees of Team Verkstad Sverige AB.”
Arni Ekholm, CEO of Relais Group Plc:
"It is great to welcome yet another group of top professionals to the growing Relais Group. STS provides an excellent home for Team Verkstad Sverige AB from the perspective of employees, customers and other stakeholders. I am particularly pleased that this acquisition strengthens our network in the strategically important Gothenburg area.”
Further information:
Arni Ekholm, CEO
Phone: +358 40 760 3323
E-mail: arni.ekholm@relais.fi
Relais Group:
Relais Group is a leading consolidator and acquisition platform on the vehicle aftermarket in the Nordic and Baltic countries. We have a sector focus in vehicle life cycle enhancement and related services. We also serve as a growth platform for the companies we own.
We are a profitable company seeking strong growth. We carry out targeted acquisitions in line with our growth strategy and want to be an active player in the consolidation of the aftermarket in our area of operation. Our acquisitions are targeted at companies having a good strategic fit with our group companies.
Our net sales in 2023 was EUR 284.3 (2022: 260.7) million. During 2023, we completed a total of four acquisitions. We employ approximately 1,000 professionals in six different countries. The Relais Group share is listed on the Main Market of Nasdaq Helsinki with the stock symbol RELAIS.