Litorina´s portfolio company BTJ Group divests its subsidiary Seelig
The BTJ Group divests its subsidiary Seelig to Förlagssystem and together the combined entity forms Sweden’s leading distributor and wholesaler of books. The new group becomes one of few publisher independent players in the swedish book market. The new constellation has a great potential to develop and will be able to offer its customers a wide range of products as well as different logistics solutions.
The BTJ Group’s sale of Seelig to Förlagssystem is an active move in line with the transformation the book industry undergoes. Increased customers demand together with higher competitor intensity requires new co-operations in order to create as effective logistics as possible in the industry.
The BTJ Group is the leading vendor to public- and school libraries within media and information services with unique knowledge regarding developing and refining of efficient products and services. Through the divestment of Seelig the BTJ Group realizes its strategy to focus on products and services that free time and resources for public- and school libraries.
We have put a lot of effort in BTJ to make Seelig more efficient and profitable. In 2006 Seelig had a good start and together Seelig and Förlagssystem will create something good from the achieved platform. Förlagssystem is a suitable long term owner of Seelig, says Sophie Persson, CEO of the BTJ Group.
We have a lot of faith in this transaction. Seelig possesses extensive competence in areas where we plan to develop ourselves. The BTJ Group has done a great job with the company and they see the same structural advantages as we do, says Per-Olof Hamrin, CEO of Förlagssystem.
Seelig is Sweden’s only full range wholesaler of books to book retailers. Seelig also handles distribution to small- and midsized publishers and provides internet bookstores as well as book retails chains with third party logistics services. Seelig annually turns over approx. SEK 300 m and has about 100 employees.
Förlagssystem is Sweden’s biggest independent book distributor with a market share corresponding to approx. 25%. The company’s has approx. 100 employees and annual turnover reaches approx. SEK 90 m.
The transaction will take place on the fist of June and Sven Sjölin will remain as CEO for Seelig. After the divestment of Seelig & Co AB the BTJ Group consists of BTJ Sverige AB, BTJ Danmark A/S and BTJ Kirjastopalvelu Oy.
For further information please contact:
CEO BTJ Group AB
Tel: +46 733-86 56 60
CEO Förlagssystem AB
Tel: +46 703-41 10 34
CEO Seelig & Co AB
Tel: +46 703-54 89 05
About Litorina Kapital
Litorina Kapital, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing small to mid sized companies in the Nordic region together with senior management. Litorina offers extensive, in-depth expertise through its own organization and its network of industrial advisors.
Litorina Kapital is backed by well recognized long term institutions that together have invested approximately SEK 1 000 million in Litorina Kapital for investments in the Swedish Lower Mid-Market. For more information, please visit www.litorina.se