Bilia acquires its second auto salvage business Go

Gothenburg, Sweden, 2017-03-07 11:45 CET (GLOBE NEWSWIRE) --  

Bilia has today concluded an agreement to acquire an auto salvage business, Allbildelar Försäljning i Huddinge AB, plus a property company, which owns the building in which the business is conducted. The date of possession is today, 7 March 2017.

The Bilia Group’s capital employed and net debt will increase by about SEK 73 M, of which the property company accounts for about SEK 48 M, as an effect of the acquisition. The operation, including the property company, has during the past two years reported an average turnover of about SEK 48 M and an operating margin of about 14 per cent. The number of employees is 37. The current owners will stay to work in the company and continue to run the business after the acquisition.

Per Avander, Bilia’s Managing Director and CEO, comments: “It is exciting to take the next step in the auto salvage sector. This will be Bilia’s second such operation and the first in Stockholm. We believe that the acquisition will permit synergies with our existing operations, both within auto salvage and within the Service Business.”

Gothenburg, 7 March 2017

Bilia AB (publ)

         For further information, please contact Per Avander, Managing Director and CEO, or Gunnar Blomkvist, CFO, Bilia AB, tel +46 31 709 55 00.