Jetpak acquire BudAB for an initial price of SEK 24.8 million
Jetpak Top Holding AB (publ) has today through its subsidiary Jetpak Group AB, signed an agreement to acquire all shares in the Swedish courier and distribution company BudAB AB.
Initial acquisition price amounts to SEK 24.8 million on debt-free basis.
In addition, an additional conditional purchase price of a maximum of SEK 10.4 million may be paid.
The conditional additional purchase price is dependent on achieved profits for the financial year 2025.
The acquisition is paid in cash.
The acquisition multiple based on the initial acquisition amount equals 4.0 times the operating profit for 2022.
BudAB, https://www.budab.se/, has its base at Arlandastad-Stockholm and the business is based on courier and distribution logistic mainly in the Stockholm and Central Sweden region, including logistic management at Arlanda Airport.
The company had an annual net turnover in 2022 amounting to SEK 53.9 million with an operating profit amounting to SEK 6.3 million, equal to a profit margin of 11.5 %. The company has 23 employees.
"The acquisition of BudAB is another important step to ensure Jetpak's future growth and strategic position in Sweden and the Nordics.
BudAB has positioned itself as a strong player in express logistics in Central Sweden and with operations in Arlanda, which is one of the most important logistics hubs in the Nordics. We have already set a plan for how we can benefit from each other's product range so that the total turnover and the results can be accelerated over the coming years. I am therefore happy to welcome BudAB into the Jetpak family",
says Jetpak CEO Kenneth Marx.
"After 35 years of developing BudAB into what it is today, I am now really looking forward to being able to contribute within the framework of Jetpak to further growing the business and strengthening Jetpak's market position in Sweden. This will be achieved with the help of our product range, which consists of direct delivery, same-day deliveries, distribution logistic including transport of temperature-sensitive goods, on-board couriers on aircrafts for extremely fast and safe transports as well as for storage and repackaging," says BudAB's CEO and founder Perry Högström.
This information was submitted for publication, through the contact person mentioned below, on 2 October 2023 at 11:00 CET.
This constitutes information that Jetpak Top Holding AB (publ) is required to publish under the EU Market Abuse Regulation.
For more information, please contact:
Kenneth Marx, CEO Jetpak
Tel: +46 (0) 73 368 54 00
E-mail: [email protected]
The company’s certified advisor is FNCA Sweden AB.
About Jetpak:
Jetpak is the simple and fastest option for prioritized door-to-door deliveries.
Jetpak offer solutions for both spontaneous transport needs and customized logistics. Jetpak is represented in more than 170 locations in the Nordics and in Europe.
Jetpak has a unique and flexible customer offering based on the availability of normally approximately 4,000 departures daily and an extensive distribution network with approximately 950 courier vehicles. This enables Jetpak to offer the market to deliver the fastest and most comprehensive same-day service. This can be further supplemented with a unique tailor-made next-day service for system-based transports.
Jetpak Top Holding AB has been listed on Nasdaq First North Premier Growth Market since 5 December 2018 and the share is traded under the short name JETPAK.
For more information, please visit: www.jetpakgroup.com
