Bilia has entered into an agreement to acquire M Bilar Group. The business is conducted in five facilities located in Västerås, Eskilstuna, Borlänge, Örebro and Mora. M Bilar Group consists of four full-service facilities with sales and service and one service facility for BMW and Mini. The deal is expected to take place on November 1, 2022. The agreement is conditional a due diligence of the business and approval from the Swedish competition authority.
M Bilar Group's sales amounted to approximately SEK 1.3 Bn in 2021, with an average operating margin for the past three years of 4.5 per cent. The number of employees were 101 at the end of 2021. M Bilar Group's capital employed plus agreed surplus values amounts to approximately SEK 400 M.
The CEO and owner of the business will remain in the company.
Per Avander, Bilia's President and CEO, comments:
“It is a pleasure to complement Bilia with such a well-managed company. The operations of M Bilar Group involve additional facilities in geographically good areas for us, where we will offer customers a high-quality service”.
Joakim Walde, M Bilar Group's CEO and owner, comments:
“We are very positive to become a part of the Bilia family. The car industry is facing many challenges and opportunities, and to become part of a larger group like Bilia, will affect both employees and the company in a very positive way. This means that we, as a company, have the opportunity to develop together with Bilia, take part in their competence and experience and also share our own.”
Johanna Kriisa, CEO BMW Sweden, comments:
“With a strong customer focus, M Bilar has been a successful BMW partner. With Bilia's professionalism and broad experience of the automotive industry, we see good synergies in the acquisition. We now look forward to a continued productive collaboration with Bilia.”
Gothenburg, June 13, 2022
Bilia AB (publ)
For information please contact:
Carl Fredrik Ewetz, Investor Relations, +46 (0)10 497 07 73, email@example.com
Per Avander, Managing Director and CEO, +46 (0)10 497 70 00, firstname.lastname@example.org
Kristina Franzén, CFO, +46 (0)10 497 73 40, email@example.com
Facts about the Bilia Group
Bilia is one of Europe’s largest car dealers with a leading position within service and sales of cars, transport vehicles and trucks. Bilia has about 150 facilities in Sweden, Norway, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota,
Mercedes-Benz, Renault, Lexus, MINI, Porsche, Nissan, Dacia, Smart and Alpine and transport vehicles of the brand Renault, Toyota, Mercedes-Benz, Nissan and Dacia and trucks of the brand Mercedes-Benz.
Bilia has today a fully expanded business with sales of new cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and auto salvage under the same roof, which gives a unique offer.
Bilia reported a turnover of about SEK 35 bn in 2021 and had about 5,300 employees.