February 01, 2024
Translink Corporate Finance Denmark acted as the exclusive advisor to a major supplier of appliances for the general housing market in Denmark, Bolind, in the sale to Whiteaway Group, a prominent player in the home appliance sector. This strategic move reinforces Whiteaway Group’s commitment to its strategy and ambition to emerge as the leading player in the Danish B2B appliance market.
Thomas Zeihlund, CEO of Whiteaway Group, expressed confidence in the acquisition, stating, “Bolind possesses strong capabilities and a unique understanding of the general housing sector in Denmark, supported by technology and robust customer service. Our clear ambition is to further develop and strengthen the Bolind brand within the housing sector, expanding on the position they already hold in the market.”
Whiteaway Group, known for selling appliances to both private and business customers in Denmark, Sweden, and Norway, has experienced significant growth in professional and business sales in recent years through channels like Whiteaway Erhverv and its 68 Skousen stores across Denmark.
Bolind, established over 70 years ago, expresses immense satisfaction with the deal. According to Peter Andersen, CEO of Bolind, Whiteaway Group is the right partner to lead Bolind forward, showcasing a deep understanding of the company and its unique potential.
“Whiteaway Group is, in many ways, the right owner for Bolind. They bring competencies that can enhance Bolind’s concepts in the Danish housing sector, making our position even stronger. Moreover, I perceive Whiteaway Group as a robust player in the Danish market, driven by good, healthy values that align with the values we uphold in Bolind,” says Peter Andersen, Bolind’s CEO.
Bolind will continue as an independent company with the existing team. The current CEO, Peter Andersen, will transition to the role of Sales Director & Head of Integration, reporting to Morten Hammelsvang, Chief Business Sales Officer at Whiteaway Group.
In 2022, Bolind achieved a turnover of DKK 240 million and operates as a joint-stock company owned by several housing associations, pending formal approval of the acquisition. The transaction is also subject to approval from Danish competition authorities.
Contact our Team Members advising in this transaction:
Translink Corporate Finance is an independent partnership of firms dedicated to Corporate Finance and M&A advisory services through over 36 offices in the key markets in Europe, North and South America, Asia, Australia, and Africa. Translink has been successful in advising clients on thousands of transactions since its founding in 1972 and Translink offices have acted as advisers in over 100 M&A projects during the last twelve months.
Translink Corporate Finance Denmark has – with over 25 years of experience – a strong position in the Danish M&A-market, especially in the smaller and medium-sized companies. The company has been a part of Translink Corporate Finance for almost 20 years.
Henrik Schrøder
