Volati completes sale of Besikta Bilprovning
Volati has completed the sale of all shares in Besikta Bilprovning i Sverige Holding AB (“Besikta Bilprovning”) to Applus+, after receiving the necessary confirmation from Swedac (the Swedish Board for Accreditation and Conformity Assessment). The transaction, which was originally communicated on 20 October 2020, is taking place at an estimated enterprise value of SEK 1,050 million and is expected to generate a capital gain of approximately SEK 750 million for Volati. The transaction is proof of Volati’s ability to create long-term value growth through acquisitions and active business development.
The transaction was conditional on confirmation from Swedac, which is the supervisory body for accreditation to conduct inspection operations, that the change of ownership does not affect Besikta Bilprovning’s accreditation. As Swedac has provided such confirmation the transaction has today been completed.
“It is pleasing to report that we have completed the sale of Besikta Bilprovning to Applus+ – a transaction that benefits both Volati and Besikta Bilprovning. Through the transaction, we realise significant value and create additional opportunities for Volati to continue to develop the company at a rapid pace, both through investments in existing operations and new acquisitions. Besikta Bilprovning, in turn, gets a leading industrial owner in Applus+ who has all the right prerequisites to help the company to develop successfully,” says Volati CEO Mårten Andersson.
The transaction takes place at a purchase consideration of approximately SEK 840 million for the shares and an estimated enterprise value of SEK 1,050 million. The total liquidity effect for Volati, including repayment of internal loans, is approximately SEK 1,040 million. The purchase consideration will be settled in cash. The transaction is expected to generate a capital gain of approximately SEK 750 million for Volati during the fourth quarter of 2020.
For further information, please contact:
Mårten Andersson, CEO Volati AB, +46 72 735 42 84, marten.andersson@volati.se
Andreas Stenbäck, CFO Volati AB, +46 70 889 09 60, andreas.stenback@volati.se
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: info@volati.se
Corp.reg.no.: 556555-4317
About Volati
Volati is a Swedish industrial group, formed in 2003, organised in four business areas: Trading, Consumer, Akademibokhandeln and Industry. Volati mainly acquires reasonably valued companies with proven business models, leading market positions and strong cash flows and develops them with a focus on long-term value creation. The strategy is to build on the companies’ identity and entrepreneurial spirit, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, over 2,000 employees and annual sales of approximately SEK 7 billion. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.