Pegroco Invest acquires JOOL Capital Partner’s financial operations

Mar 7, 2023

Pegroco Invest AB and the JOOL Group have entered into a share sale and purchase agreement regarding the acquisition of a number of JOOL Capital Partner AB’s operating subsidiaries. The transaction expands and broadens Pegroco’s company portfolio at the same time as it strengthens the company’s position as a western Swedish player on the capital market. The acquisition is expected to create positive synergies for both parties.

The purchase price amounts to approximately SEK 720 million and consists of newly issued ordinary shares in Pegroco, whereby JOOL’s current owners become long-term and significant owners in Pegroco. The purchase price also includes an additional purchase price over three years based on the financial operating outcome of the JOOL Companies.

JOOL was founded in 2010 and has today around 70 employees. The business had a total turnover of SEK 249 million in 2022, with an adjusted operating profit (EBIT) of SEK 83 million.

”We are very happy about the opportunity to acquire JOOL’s financial operations, which will form a new hub company for Pegroco. It is an entrepreneur-driven organisation with experienced management and qualified employees who have been very successful in recent years. The acquisition lays the foundation for a new chapter in Pegroco’s development and creates synergies both financially, business-wise and organizationally”, says Victor Örn, CEO of Pegroco Invest AB.

”The deal adds value to our business and we look forward to working with Pegroco. Together, we have a broad base of established networks and solid experience of the capital market, both in the Nordics and internationally. Our joint focus on the SME market and future ambitions will create new opportunities to further accelerate our growth journey”, says Tom Olander, JOOL Group CEO.

Read the full press release HERE.