MCF supports Volati AB on its acquisition of Akademibokhandeln Holding AB
After originally introducing the opportunity to Volati AB, MCF provided M&A advisory services to Volati on its acquisition of Akademibokhandeln Holding AB. Akademibokhandeln is Sweden’s leading book retailer with a successful omnichannel strategy including the online retailer Bokus. The transaction garnered widespread attention across the country. The deal closed during the first year of MCF’s geographic expansion into Sweden via its merger with Keystone Advisers, thus establishing a presence in the Nordic region’s largest and most important market.
The Deal
The transaction was carried out in the context of Volati’s strategy to acquire companies with proven business models, leading market positions and strong cash flows, to further develop and grow them with an emphasis on long-term value creation. The enterprise value of the transaction was around SEK 760 million.
The Target
Akademibokhandeln is the market leading book retailer in Sweden with a market share of about 35% of consumer book sold, and it has a strong offering for all product and delivery formats. With 108 stores nationwide, 80 under its own management and 28 run as franchises, together with online sales under the Akademibokhandeln and Bokus brands, the company operates modern and profitable sales channels focused on consumers, companies and public-sector operations. For 2016, the Akademibokhandeln Group’s net sales amounted to SEK 1.8 billion with EBITDA of SEK 125 million.
Client Statement
Mårten Andersson, Chief Executive of Volati, said: “We are extremely pleased and proud to be able to acquire Akademibokhandeln — which is, in my view, a typical acquisition for Volati. The book retailer is a well-run and profitable group with strong cash flows and an extremely well-established market position.”
