New owner for 21grams – Sold for 350 million SEK

21grams – which through coordination streamlines both physical and digital mail – gets a new owner in Unifiedpost Group, which has been listed on the Belgian stock exchange since September 2020. The management is  now investing in further growth.

The sellers are Priveq Investment (40%), the Pulsen Group and the management group in 21grams.

According to Bloomberg,  the purchase price was 350 million SEK and the valuation was made through a multiple of 7,5 times Ebtida of 2020.

The payment consists out of 93% cash and 7% shares.

“The management of 21grams is delightful that the Unifiedpost Group has a strong growth that allows us to continue and take the next step on our growth journey,” says Stefan Blomqvist, CEO of 21grams.

Unifiedpost Group has a similar business in Europe and through this acquisition they have now entered the Nordic market.

“The acquisition made by Unifiedpost Group opens up more opportunities to strengthen the customer offering and to be the platform for continued development in the Nordic region. 21grams’ strong culture and engagement have been a prerequisite for this success,” says Louise Nilsson who is a partner at Priveq Advisory AB, one of the sellers.

“We also investigated financial buyers but it feels good to land with an industrial player with a high level of cooperation,” says Stefan Blomqvist to Di Digital.  The deal became public before Christmas with a positive response. The share increased from 21 to 25 euros a few days after and is trading at the time of writing this at 23 euros.

More acquisitions

Unifiedpost Group has made several acquisitions since the IPO last autumn and the goal is to become a major European player that helps companies with administration and financial transactions. BanqUP with operations in Poland and Akti in Belgium are two other recent acquisitions by the Group.