FSN Capital, a Nordic private equity firm, has agreed to acquire Kjell & Co Elektronik AB from ICA Gruppen and the founders. Kjell is a retailer of accessories for consumer electronics in Sweden with a network of 74 stores throughout the country, as well as online sales. The deal is subject to approval by the Swedish competition authority.
FSN Capital has signed an agreement to acquire Kjell & Co Elektronik AB from ICA Gruppen and the Founders. Kjell & Company is a leading retailer of accessories for consumer electronics in Sweden with a network of 74 stores throughout the country and online sales. The Founders of the company will continue to be a significant shareholder in the company going forward.
Over the recent years, the Founders and the management team have been successful in significantly growing the company by actively expanding the store network in Sweden, as well as improving profitability. An opportunity for continued growth in Sweden, combined with the potential for international expansion, makes Kjell & Company an attractive investment opportunity for FSN Capital.
”Kjell & Company has a unique store concept and focus on electronic accessories, which, together with a strong corporate culture, have allowed the company to grow strongly and profitably in recent years. In partnership with the Founders and the management team we look forward to supporting the company in continuing that growth both in and outside Sweden”, says Partner Peter Möller from FSN Capital.
Kjell & Company’s management team and the Founders are looking forward to the new cooperation.
“In FSN Capital, we believe that we have found a partner that can help us accelerate our growth even further. Together, we will now focus on expanding our already strong store network in Sweden, online sales and also carefully evaluate the opportunity to take Kjell & Company into other selected Nordic countries” says CEO Thomas Keifer.
Last year, Kjell & Company celebrated its 25th anniversary of the opening of the first store in Sundsvall in 1988. The company offers a broad selection of accessories for consumer electronics through a store network of 74 stores, as well as online sales. To read more about Kjell & Company, please go to the company’s website www.kjell.com (in Swedish).
Carnegie, Hamilton Advokatbyrå, White & Case, PwC Transaction Services and Bain have acted as advisors for FSN Capital during the transaction. The completion of the transaction is subject to approval by the Swedish competition authority.