Blick Global Invests in eEquity SPV for Prisjakt Acquisition

Blick Global Group AB has announced a strategic investment of 1.5 million SEK in eEquity SPV Prisjakt AB, a special purpose vehicle formed to acquire Prisjakt Sverige AB from Schibsted. This move is seen as a significant step for Blick Global Group, as it aligns with their strategy to capitalize on lucrative opportunities within the digital consumer market.

The investment breakdown reveals that 38 SEK is allocated to the nominal value of the acquired shares while 1,499,962 SEK is provided as a conditional shareholder contribution. Blick Global has secured 1,500,000 preference shares out of a total of 98,176,471 issued shares in the SPV, with the investment being fully funded from their existing cash reserves.

The acquisition is set to be finalized on June 13, 2025, coinciding with the completion of the Prisjakt acquisition from Schibsted. Prisjakt, a leading Nordic price comparison service, has shown strong profitability and growth, with a revenue of approximately 440 million SEK and an EBITDA of 121 million SEK over the last twelve months, reflecting a 27% margin. The company recorded a 21% growth in Q1 2025 compared to the previous year.

The estimated purchase price for Prisjakt is around 490 million SEK, to be financed through a combination of 300 million SEK in bond loans and 190 million SEK in equity from eEquity and co-investors. The SPV structure ensures that preference shares have priority over ordinary shares in dividends and future exits, providing a secure investment environment.

Johannes Eriksson, CEO of Blick Global Group, expressed enthusiasm about the investment, stating, 'Prisjakt is a well-managed company with a strong brand, profitable growth, and stable cash flows in an attractive niche of the digital consumer market. The financial structure, with a high level of debt, creates an interesting leverage, making this investment case particularly attractive given Prisjakt's profitability. We see great potential for value creation at a future exit.'

For investors considering their position in Blick Global Group, this investment represents a strategic move into a profitable and growing sector. While the acquisition's success will depend on the ongoing performance of Prisjakt and the broader market conditions, the structure and terms of the investment suggest a favorable outlook. Therefore, holding onto this investment could be a prudent decision for those already invested, while potential investors might consider buying in anticipation of long-term gains.