Kjell & Company announces the outcome of the offering of the company’s shares – trading on Nasdaq First North Growth Market commences tomorrow


Kjell Group AB (publ) (”Kjell & Company” or the ”Company”), a leading[1] player in consumer electronics accessories, today announces the outcome of the offering of the Company’s shares (“the Offering”) and the listing of the shares on Nasdaq First North Growth Market. The Offering attracted very strong interest, both from institutional investors in Sweden and internationally as well as the general public in Sweden. The Offering was heavily oversubscribed. Trading on Nasdaq First North Growth Market commences tomorrow, 16 September 2021.

The Offering in brief:

  • As previously announced, the price per share in the Offering was SEK 55, corresponding to a market value of the Company’s shares of SEK 1,713m upon completion of the Offering.
  • The Offering comprised 7,272,727 newly issued shares corresponding to approximately SEK 400m as well as 9,380,177 existing shares, which were offered by the principal owner FSN Capital IV[2] as well as a few other shareholders (together with FSN Capital IV, the “Selling Shareholders”), corresponding to approximately SEK 516m. The total Offering, excluding over-allotment, amounted to approximately SEK 916m.
  • In order to cover any potential over-allotment in connection with the Offering, the principal owner FSN Capital IV, Kjell Dahnelius, Marcus Dahnelius and Mikael Sundin have committed, upon request of the Joint Global Coordinators, to offer up to an additional 2,497,935 existing shares, corresponding to up to approximately SEK 137m or up to 15% of the total number of shares in the Offering (the “Over-allotment Option”).
  • Provided that the Over-allotment Option is exercised in full, the total value of the Offering will amount to approximately SEK 1,053m, corresponding to approximately 61.5% of the total number of shares in the Company upon completion of the Offering.
  • AMF Fonder, Carnegie Fonder, Fosielund Holding, Lazard Asset Management, LMK Venture Partners, RoosGruppen and Strand Kapitalförvaltning have acquired shares in the Offering for a total amount of SEK 523m, representing in aggregate 30.5% of the total number of shares in the Company upon completion of the Offering.
  • The group management and the board of directors have entered into lock-up undertakings for a period of 360 days from the first day of trading on Nasdaq First North Growth Market. The other existing shareholders have entered into lock-up undertakings for a period of 180 days from the same point in time.
  • Trading on Nasdaq First North Growth Market commences tomorrow, 16 September 2021, under the ticker “KJELL”. Settlement is expected to take place on 20 September 2021.

Andreas Rylander, CEO, comments:

”We have noticed a strong interest to invest in Kjell & Company and look forward to, together with our new shareholders, take the next step in the development as a listed company. It is a great day for us who work daily to make technology accessible for all. In that spirit, I would like to thank all of our employees for your hard work and for the trust of our customers and we look forward to our growth journey together!”

About Kjell & Company

Since the Company’s inception in 1988, Kjell & Company has become a leading[1] player in consumer electronics accessories, with presence in Sweden, Norway and Denmark. The Company combines a large product range with a high degree of advice and customer service, which is offered via an omni-channel offering – online, through 130 service points (of which 107 are in Sweden and 23 in Norway) and in partnership with Circle K at 292 stations across Sweden. Through the acquisition of the online player AV-Cables, completed on 29 April 2021, Kjell & Company is also established in the Danish market and further strengthens its position in the Nordics.

Sales from Kjell.com is seamlessly integrated with the service points and during the period April to June 2021, the Company’s online sales made up about 35%[3] of sales. Kjell & Company aims to provide the best possible customer experience irrespective of sales channel and customers are offered personal service and advice, both online and in person. Delivery is swift, with same day delivery in several cities and within one day to about 70% of the Swedish population[4].

Through Kjell & Company’s loyalty club, with approximately 2.4 million members[4], the Company has an in-depth understanding of people’s technology needs, and the Company’s approximately 1,2004 employees work daily to enhance everyday lives through technology. Kjell & Company’s clear focus on the customer experience is evident from the Company’s high customer satisfaction and average rating of 9.2 of 10.0 on Prisjakt[5] and NPS of 75[4], [6].

Kjell & Company has historically achieved a strong organic net sales growth, with a compound annual growth rate (“CAGR”) of 18.8% for the financial years 2000–2020. During the period, Kjell & Company has increased its net sales every year. A clear focus on customer satisfaction combined with a curated assortment has, together with the omni-channel platform, contributed to high margins. The adjusted EBITA margin was 7.3% for the financial year 2020 despite negative effects from the Covid-19 pandemic.


In connection with the Offering, Nordea acting as stabilisation manager (the “Stabilisation Manager”) may, to the extent permitted pursuant to Swedish law, carry out transactions aimed to support the market price of the Company’s shares above those that might otherwise prevail in the open market for up to 30 days from the commencement of trading in the Company’s shares on Nasdaq First North Growth Market. The Stabilisation Manager is, however, not required to carry out such transactions and there is no assurance that such activities will be undertaken. Such transactions may be effected on any securities market, including Nasdaq First North Growth Market, over-the-counter market or otherwise. The transactions, if commenced, may be discontinued at any time without prior notice but must be ended no later than by the end of the abovementioned 30-day period. No later than by the end of the seventh trading day after stabilisation transactions have been undertaken, it shall be made public that stabilisation measures have been performed in accordance with article 5(4) of EU’s Market Abuse Regulation 596/2014. Within one week from the end of the stabilisation period, the Stabilisation Manager will make public whether or not stabilisation was undertaken, the date at which stabilisation started, the date at which stabilisation last occurred as well as the price range within which stabilisation was carried out, for each of the dates during which stabilisation transactions were carried out.

About FSN Capital Partners

FSN Capital Partners is an investment advisory firm acting exclusively on behalf of the FSN Capital funds with EUR 3.1 billion under management. The funds make control investments in growth-oriented Northern European companies with enterprise values up to EUR 500 million to support further growth.

Established in 1999, FSN Capital is a leading private equity adviser in the Northern European region with offices in Stockholm, Oslo, Copenhagen and Munich. FSN Capital seeks to act with the highest level of integrity, taking a responsible approach when interacting with portfolio companies, advisors, investors, local communities, and the environment.


Carnegie Investment Bank AB (publ) and Nordea Bank Abp, filial i Sverige, are Joint Global Coordinators and Joint Bookrunners. White & Case is legal advisor to the Company and FSN Capital IV. Baker McKenzie is legal advisor to the Joint Global Coordinators and Joint Bookrunners.

FNCA Sweden AB is the Company’s certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.

For more information, please contact:

Andreas Rylander
E-mail: Andreas.Rylander@kjell.com

Niklas Tyrén
E-mail: Niklas.Tyren@kjell.com

Johan Hähnel
E-mail: Johan.Hahnel@kjell.com

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