Verdane has sold Spares Europe to Clas Ohlson

Spares

Spares Europe is a founder-led e-commerce retailer of smartphone, tablet and laptop spare parts, replacement batteries and electronics accessories, serving consumers and repair shops across the Nordics. The company was founded by Talal Alshammari, an award-winning Swedish entrepreneur, backed by Verdane, a Nordic private equity investor focused on sustainable growth assets. Spares offers a broad assortment of quality original equipment manufacturer spare parts and private-label products, with sales of approximately €70 million. It contributes to reducing electronic waste and promoting the “right to repair” by prolonging the lives of more than one million devices every year. The business has approximately 70 employees, and its headquarters and distribution center are in Malmö, Sweden.

The Deal

The owners of Spares signed an agreement to sell Spares to Clas Ohlson, a Swedish publicly listed do-it-yourself retailer and household brand. The acquisition strengthens Clas Ohlson’s core business and creates new growth opportunities leveraging Spare’s expertise in commercializing the shift towards repairing, reusing and extending the lifespan of electronic products. Consideration included a performance-based earn-out to be paid within the first year after closing. The Chief Executive Officer of Spares and key employees will reinvest part of the proceeds into the company, which will be operated independently within Clas Ohlson. Lincoln International acted as the exclusive financial advisor to Verdane and provided process execution support during the transaction process, working closely with Verdane and the company management. Lincoln’s dedicated execution team played a key role in negotiating the terms of the transaction and securing a successful outcome for the owners.

Our Perspective

John Hamilton, Lincoln International Managing Director who co-led the transaction, commented, “It was an honor to be asked to coordinate the response to the Clas Ohlson approach and all the more satisfying to help in bridging a difficult discussion through innovative structuring and ultimately delivering a good outcome for both existing investors and the re-investing managers.”

Alex Masters, Lincoln International Managing Director who co-led the transaction, added, “The transaction serves as a good example of the value opportunity in finding a strategic exit route to innovative and fast-growing e-commerce assets, it was a privilege for us to contribute to the success of this project.”

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