FSN Capital IV has, through Herakles Holdings Limited, a wholly-owned company, sold its holding of 5,001,210 shares (corresponding to 10.8% of the total shares), in Instalco Intressenter AB (“Instalco” or the “Company”), through an accelerated bookbuilding to Swedish and international investors and Instalco Management and Employees. The sale was made at a price of SEK 51.30 per share, a total of approximately SEK 257 million. Following the sale, FSN Capital IV no longer holds any shares in Instalco.
All proceeds, SEK 255 million net of fees, will be used to repay part the outstanding margin call facility with Danske Bank.
Instalco was listed on NASDAQ Stockholm on May 11, 2017.
The Group was formed on the initiative of its CEO, Per Sjöstrand, in February 2014 by a consolidation of five installation companies, each with long and successful history. Instalco’s business concept is to be able, through cooperation between locally leading and highly specialised units, to offer competitive multidisciplinary solutions, while at the same time achieving coordination benefits. Since its formation the Company has demonstrated strong growth (Instalco has increased its revenue by more than four times between 2014 and 2017), driven primarily by acquisitions but also through organic growth. For the 2017 financial year, Instalco had net sales of SEK 3,114 million and an adjusted EBITA of SEK 264 million, corresponding to an adjusted EBITA margin of 8.5 percent.