Stockholm Corporate Finance acted as the financial advisor for SEHED Byggmästargruppen’s listing on NGM Nordic SME.

The listing included 1,600,000 existing Class B shares at a price of SEK 17 per share, corresponding to a total value of approximately SEK 27.2 million.

The first trading day was February 6, 2025.

The company gained over 2,000 new shareholders.

A consortium of cornerstone investors acquired shares outside the offering for SEK 18.8 million, increasing the total transaction volume to SEK 46 million.

The listing was highly successful and significantly oversubscribed, giving SEHED a company valuation of approximately SEK 477 million.

About SEHED Byggmästargruppen

SEHED Byggmästargruppen is a well-established group within the construction and contracting sector. The company consists of specialized firms offering comprehensive solutions for ROT projects (renovation, reconstruction, and extension) as well as new construction.

With a revenue and order intake of approximately SEK 2.0 billion in 2023, SEHED has solidified its position as a leading player in the Swedish construction industry.

Investment Highlights

🔹 Growing Market
The ROT market is expected to continue expanding due to the aging property stock and increasing requirements for energy efficiency. The business model, featuring locally specialized, entrepreneur-driven companies with centralized procurement, achieves synergies such as lower material purchasing costs.

🔹 Proven Profitable Growth Strategy Through Acquisitions in a Fragmented Market
SEHED has a strong and well-established acquisition platform, having successfully acquired several niche local and integrated companies in recent years within a consolidating market.

🔹 Market Leader in the Mälardalen Region and Surroundings
SEHED holds a strong position in façade renovations and is one of the market leaders in pipe replacements, façade work, and ROT projects, making the company a preferred contractor.

🔹 Strong Financial Position with Low Debt Enables Attractive Dividend Potential
With profitability and a stable EBITDA margin exceeding 5%, along with a net cash position, SEHED is well-positioned for continued acquisitions and the ability to provide solid dividends to its shareholders.

🔹 Diversified Customer Base Reduces Economic Sensitivity
The customer base is diverse and well-established, consisting of housing cooperatives, private property owners, public sector clients, and major construction companies. This reduces customer dependency and strengthens the company’s resilience against market fluctuations.