AcadeMedia acquires Sandviks AS and enters the educational products and services market
AcadeMedia has entered into an agreement to acquire all shares in Sandviks AS for NOK 87 million. The company primarily offers products and services that inspire children to read at an early age. With the acquisition, AcadeMedia initiates a new business area offering products and services targeting the educational market. Sandviks AS’ Swedish and Norwegian business had a turnover in 2021 of approximately NOK 103 million and an EBIT of approximately NOK 14 million.
"Sandvik’s extensive experience from creating inspiring and joyful reading for young children combined with AcadeMedia’s experience from the education sector will enable us to develop educational products and services that strengthen children’s learning and development", says Marcus Strömberg, CEO of AcadeMedia.
The acquisition in brief
- The preliminary purchase price for Sandviks AS amounts to NOK 88 million and the transaction has a cash and debt-free value (Enterprise Value) of NOK 87 million.
- The acquisition does not include Sandviks’ business in USA.
- The acquisition is expected to be completed during the fourth quarter of the 2021/22 fiscal year.
- The seller is Bay Capital AS, owned by the Sandvik family.
- AcadeMedia believe that there is potential to develop and coordinate the business, both in existing and new markets. During 2021, Sandviks’ Swedish and Norwegian business had a turnover of approximately NOK 103 million and an EBIT of approximately NOK 14 million. In 2022, the company is expected to have a turnover of approximately NOK 105 million and an EBIT of approximately NOK 15 million.
Since 1965, Sandviks has created physical and digital products and services that inspire children to read. The most well-known brand is Goboken, a book club for children with 40’000 members in Norway and Sweden.
For more information, please contact:
Kristofer Hammar, Director of business development at AcadeMedia
Telephone: +46 70-105 22 08
E-mail: kristofer.hammar@old.academedia.duvadev.se
Hanna Clausén, IR
Telephone: +46 8 794 42 62
E-mail: hanna.clausen@old.academedia.duvadev.se
About Sandviks AS
Since the start in 1965, Sandviks has created inspiring and joyful reading for young children through their books and products adapted to the child’s age and development in Norway and Sweden. For children, the company has a wide offering of books and for their parents the offering include digital communities and apps. Sandviks is, to mention a few, behind the brands Goboken and Babyvärlden (app). The company has 23 employees.
About AcadeMedia
AcadeMedia creates opportunities for people to develop. The 18,100 employees at our 680 preschools, compulsory schools, upper secondary schools and adult education centres share a common focus on quality and development. Our 188,000 children and students are provided with a high-quality education, giving them the best conditions to attain both learning objectives and their full potential as individuals. AcadeMedia is Northern Europe ́s largest education company, with locations/facilities/presence in Sweden, Norway and Germany. Our size gives us the capacity to be a robust, long term partner to the communities we serve. More information about AcadeMedia is available on www.old.academedia.duvadev.se.
About us
AcadeMedia creates opportunities for people to develop. Our 18,870 employees at our 700 units (preschools, primary schools, high schools, adult education) have a common focus on quality and development.