Money Buzz! Europa

Category: Gothenburg

  • Hedin Group acquires two BMW dealerships in Zurich

    Hedin Group acquires two BMW dealerships in Zurich

    • Hedin Group, one of the largest privately-owned automotive retailers in Europe, expands to Switzerland though the acquisition of SeeAll Group.
    • Hedin confirms it has entered in exclusive negotiation with BMW Switzerland to further acquire the BMW-owned branch Zürich-Dielsdorf (Niederlassung).

    SeeAll Group’s two dealerships, Allmend Garage and Seeblick Garage, are Hedin’s first in Switzerland, adding to the existing relationship with BMW in Norway and Sweden. 

    The Swiss dealerships had a turnover of around 100 million Swiss franc in 2019. The acquisition expands Hedin’s total representation to 123 dealerships across four countries.

    Upon closing, SeeAll will become part of a wholly owned, newly established Swiss subsidiary of Anders Hedin Invest AB, folded into the Scandinavian BMW division, Hedin Automotive in Norway. Through the I.A. Hedin Bil AB subsidiary, Bavaria, Hedin Group is the largest dealer of BMW and MINI in Scandinavia.

    “We are pleased to expand our dealership footprint to Switzerland and to increase our long-standing, strong partnership with BMW,” said Stig Saeveland, chief executive officer of Hedin Automotive Norway.

    “The expansion to Switzerland is an important milestone in our company history. SeeAll reinforces our position in Europe, leveraging on our existing alliance with BMW to accelerate our international development in a fast-changing industry.” said Anders Hedin, Owner & CEO of Hedin Group.

  • Urbanista, record year in 2019 with e-commerce growing over 1 000%

    Urbanista, record year in 2019 with e-commerce growing over 1 000%

    Urbanista experienced growth from all sales channels in 2019 where e-commerce particularly stuck out with more than 1.000 percent growth from direct website sales following a focused and aggressive strategy.

    The growth both online and offline was made possible due to a strong portfolio of products, especially within the true wireless headphone segment, where the brand launched three products during 2019.

    Counterpoint Research expects the true wireless headphone market to grow by 80% CAGR for 2019-2022 and Urbanista is well positioned to be on that curve.

    “We have managed to significantly grow every year since STRAX acquired the brand in 2014, however, it feels like 2019 was the year when it all came together with relevant and timely product launches followed by success in both online and offline sales channels.” says Gudmundur Palmason, CEO, STRAX AB.

    What is Urbanista

    Urbanista make audio products rooted in Scandinavian design. The products are inspired by cities, freedom and with the urban lifestyle in mind.

    Urbanista is available online as well as in 20, 000 stores and 80 countries around the world. 

  • Castellum starts the construction of GreenHaus Helsingborg

    Castellum starts the construction of GreenHaus Helsingborg

    Castellum is beginning the construction on the GreenHaus office building with over 10,000 sq.m. in Oceanhamnen, Helsingborg’s new city district. The total investment for the project, including land acquisition, is calculated to MSEK 300.

    “It feels very positive that we can start construction on GreenHaus. This is an important project for us in an exciting new city district which has just begun to take form. The building will be WELL-certified and we’re also planning for a major coworking venture,” says Henrik Saxborn,CEO of Castellum AB. 

    In connection with the GreenHaus inauguration, the Castellum-owned United Spaces coworking company will invite individuals and companies to check out coworking possibilities on one of the building floors. 230 workplaces have been factored into the calculation. This is the first United Spaces operations office to be set up in Helsingborg.

    Fully leased, rental income is estimated to amount to approximately MSEK 19. The current occupancy rate is approx. 31%. Occupancy will occur during spring of 2022.

    Property values of Castellum reaches SEK 92.7 billion

    Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 92.7 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.2 million square metres.

    The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities in Sweden and also in Copenhagen and Helsinki.

    In 2019, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association).

    In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues. The Castellum share is listed on Nasdaq Stockholm Large Cap.

  • ASSA ABLOY Acquires AM Group in Australia

    ASSA ABLOY Acquires AM Group in Australia

    ASSA ABLOY has signed an agreement to acquire AM Group, an Australian industrial door company within entrance automation.

    “I am very pleased to welcome AM Group and their employees into the ASSA ABLOY Group. I welcome this complementary addition to our business, specializing in innovative entrance automation,” says Nico Delvaux, President and CEO of ASSA ABLOY.

    “AM Group complements both our product offering and our geographic coverage in Australia. By adding their strong product portfolio, which includes rolling steel doors and bi-fold doors, to ASSA ABLOY’s commercial network, technologies and competences, we will continue our successful journey,” says Mogens Jensen, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

    AM Group was founded in Australia in 1923 and has 425 employees. The head office is located in Sydney, Australia.

    Sales for 2019 are expected to reach about AUD 120 million (approx. SEK 800 million) with a good EBIT margin and the acquisition will be accretive to EPS from the start.

    The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the first quarter of 2020.