Bilia has concluded an agreement to acquire Furubakken Bilverksted AS, an authorized BMW service business located southwest of Oslo in Norway. The planned date of possession is on 1 January 2019. Furubakken Bilverksted AS's turnover in 2017 amounted to about NOK 35 M, with an average operating margin for the last three years of 12.9 per cent. The number of employees is 16. Furubakken Bilverksted AS's capital employed, plus agreed-on surplus values, amounts to about NOK 18 M. A conditional additional purchase price of max. NOK 4 M may be paid after 2 years dependent on the financial performance of the business.
Per Avander, Bilia's Managing Director and CEO, comments:
"It's very gratifying for Bilia to expand the BMW service business in Norway. The business in Furubakken Bilverksted AS means further expansion and possibilities for further improved service within the Oslo region."
Frode Hebnes, Managing Director of Bilia in Norway, comments:
"Furubakkens Bilverksted AS is a well-run operation both in terms of profitability and customer satisfaction. In addition to pure expansion, we also see possible synergies with our existing BMW service business in Oslo, Asker and Bærum, and through this acquisition we will even better secure the total BMW customer experience for our customers."
Gothenburg, 13 November 2018
Bilia AB (publ)
For further information, please contact CEO Per Avander or CFO Kristina Franzén,
Bilia AB, tel: +46 10 497 70 00.
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Bilia offers car sales, service and supplementary services and is one of Europe's largest car
chains with operations in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia reported a turnover of SEK 27.5 bn in 2017 and had 4,708 employees.
Attachment
- Bilia acquires authorized BMW service business in Norway (https://prlibrary-eu.nasdaq.com/Resource/Download/d932e92f-43bf-4070-839e-13e3f9f3c626)
