Altor 2003 Fund (”Altor”) and Fredrik Cappelen, Chairman of the Board of Directors in Byggmax have together sold 16.5% of the shares in Byggmax Group AB (”Byggmax”) through an accelerated bookbuilding to Swedish and international institutional investors at a price of SEK 50 per share (“the placing”). The investor demand to acquire shares in Byggmax has been very high.
The sale of 10 million shares, amounting to SEK 500 million, consisted of 9.8 million shares sold by Altor and 200,000 shares sold by Fredrik Cappelen through his endowment insurance. The demand from investors has been very high and in order to fulfill the demand the placing has been increased from the initial size of 6 million to 10 million shares.
The sale was conducted through an accelerated bookbuilding, whereby the price was set at SEK 50 per share. The shares were distributed to investors in Sweden, continental Europe and the US.
Following the placing, Altor owns 11 920 908 shares in Byggmax (19.6% of the capital and votes).
In 2006, Altor acquired a majority ownership in Byggmax which had been founded 13 years earlier. The founders maintained a 25% ownership. In June 2010, Byggmax was listed on Nasdaq OMX Stockholm and today has close to 5,000 shareholders.
Fredrik Cappelen has owned a substantial amount of shares since 2006. Fredrik Cappelen diversifies his personal finances through the sale of 200,000 shares. Fredrik Cappelen remains committed to Byggmax long-term development through his position as Chairman of the Board of Directors.
Carnegie Investment Bank has acted as Sole Manager and Bookrunner in connection with the placing. Altor and Fredrik Cappelen have entered a lock-up agreement with Carnegie Investment Bank not to sell any shares within 3 and 6 months respectively.
For additional information please contact
Altor Equity Partners AB (Investment Advisor to the Altor 2003 Fund)
Head of Communications
Tel: +46 8 678 91 96
Tel: +46 70 567 08 00
Altor Equity Partners acts as investment advisor to the Altor funds. Since inception, the Altor funds, with a committed capital of EUR 3,800 million, have invested in close to 40 companies. The investments have been made in Nordic mid-cap companies with the aim to create value through growth initiatives and operational improvements. Among current investments are Carnegie, Helly Hansen, Apotek Hjärtat, Papyrus, Dustin, Qmatic, Piab, Ålö, Max Matthiessen, Elixia och CTEK.