BHG Group AB (publ) (OM:BHG) agreed to acquire an 80% stake in Ah-Trading Gmbh from Aron and Birgit Holtermann and Fabian Simon for approximately SEK 490 million on September 2, 2021. Aron and Birgit Holtermann will be retaining a 20% stake. BHG will pay about SEK 367 million for 80% of the shares, using cash and cash equivalents. In addition, the Group will pay a performance-linked cash earn-out based on EBITDA for 2021 and 2022, in the form of 2 tranches, of up to approximately SEK 122 million. The consideration of SEK 367 million will be financed with cash on hand. The consideration corresponds to an acquisition multiple of approximately 0.7x sales and 7.2x EV/EBITDA based on the anticipated financial performance for 2021. Including the full earn-out, the purchase price corresponds to an acquisition multiple of approximately 9.0x EV/EBITDA. During the 2020 financial year, Ah-Trading reported sales of SEK 459 million and adjusted EBITDA margin was 8%. The company’s founders, Aron and Birgit Holtermann, who will continue in their roles as Chief Executive Officer and Chief Operating Officer, respectively along with the rest of the management team will continue to lead the company’s operations, which will be consolidated with BHG’s Home Furnishing segment. The transaction is expected to close very shortly and is earnings accretive with the initial valuation, excluding earnouts. Henning von Poser of Transfer Partners GmbH acted as financial advisor to the shareholders of Ah-Trading Gmbh. Martin Imhof, Sebastian Pollmeier, Beatrice Stange, Michael Kuska, Astrid Luedtke, Bernd Weller and Birgit Schreier of Heuking Kühn Lüer Wojtek acted as legal advisor to BHG Group. Sebastian JM Longrée and Katja Longrée of KÜMMERLEIN Rechtsanwälte & Notare acted as legal advisors to AH Holding and Aron and Birgit Holtermann and Fabian Simon.