Bufab AB

M&A Activity • Jun 3, 2019

Bufab acquires HT BENDIX A/S

Bufab has entered into an agreement to acquire all outstanding shares in HT BENDIX A/S, with annual sales of approximately SEK 500 million (DKK 345 million) and an operating margin of approximately 10%.

HT BENDIX A/S was founded in 1975 and is a leading C parts Supply Chain Partner in the Nordics, with a strong expertise in furniture & fittings industries. Its head office and main operations are in Herning, in Jutland, Denmark, but the company generates sales throughout the Scandinavia, Baltics, Germany, England, France and Poland. HT BENDIX A/S has about 80 employees and generates annual sales of approximately DKK 345 million with good profitability.

"I am honoured and very happy to announce this acquisition, which is a significant and attractive add-on to our existing businesses in the Nordics, and which presents attractive growth synergies for both companies", says Jörgen Rosengren, Bufab's President and CEO. "HT BENDIX A/S is well known in the industry for its high product and service quality, solution-oriented approach, and skilled staff. We wish the HT BENDIX A/S team a very warm welcome into the Bufab Group", says Johan Lindqvist, who manages Bufab's Segment Sweden.

"In the past years, Bufab has become known as a leader in the C parts industry globally. We have looked for a global player with the strength to help us bring HT BENDIX A/S to a new level. And we have searched for a company with a mindset and culture that fit HT BENDIX A/S. We are convinced that Bufab is the ideal partner to continuous successful growth", comments Kaj Østergaard, Managing Director and spokesman for the owners of HT BENDIX A/S.

The acquisition is financed within Bufab's existing credit facilities. The purchase price, on an "enterprise value" basis, amounts to approximately SEK 350 million upon closing of the transaction. An additional purchase price preliminarily estimated at SEK 70 million will be paid out in instalments in 2020-2022, conditional on stable and improving financial development. The acquisition will close and take effect immediately, but is conditional on the customary authority approvals, and will be reported within Bufab's segment Sweden. It is expected to contribute to Bufab's earnings per share starting from the third quarter of 2019.

For further information, please contact:

Jörgen Rosengren, President and CEO, telephone: +46 370 69 69 01

Marcus Andersson, CFO, telephone: +46 370 69 69 66

This information is information that Bufab AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on June 3, 2019.

About Bufab

Bufab AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a full-service solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts, etc.). Bufab's Global Parts Productivity™ customer offering aims to improve productivity in the customers' value chain for C-Parts.

Bufab was founded in 1977 in Småland and is an international company with operations in 27 countries. The head office is located in Värnamo, Sweden, and Bufab has about 1,300 employees. Bufab's net sales for the past 12 months amounted to SEK 3.9 billion and the operating margin was 9.7 percent. The Bufab share is listed on Nasdaq Stockholm, under the ticker "BUFAB". Please visit www.bufab.com for more information.