The KABE Group, which since July 2018 has owned a 21.5 percent share of Coachman Group, has signed an agreement and completed the acquisition of all remaining shares in Coachman on February 19, 2021.
The business has been run for 30 years from its premises in Hull. The company has about 200 employees. Sales during the most recent financial year amounted to just over £30m, with an operating margin of approx. 6 percent. Coachman has a strong balance sheet with a good equity ratio and liquidity.
The acquisition creates opportunities for synergy effects and enables deeper collaborations in terms of sales, product development and purchasing, as well as the exchange of production technology.
Through the acquisition, KABE strengthens its position in the premium segment and becomes a stronger international group.
The current management of Coachman will continue to lead the company.
“We are very pleased to have been able to complete the acquisition of Coachman, a very well-run company that is gradually increasing its market share in the English market. Coachman fits in well with the Kabe Group and our strategic direction,”
says Alf Ekström, CEO of KABE Group.
The purchase price for the remaining 78.5 percent of the shares in Coachman amounts to £15.71m of which £13.46m will be paid in cash upon entry. The remaining £2.25m will be regulated in two years. On a cash and debt-free basis, the purchase price thereof amounts to £12.21m.
The KABE Group’s main operations consist of the manufacture and sale of caravans, motorhomes and camping accessories for the European market.
With strong brands and a wide product range, KABE will be a full-range supplier to retailers. KABE has since its inception been constantly developed and is today a group with subsidiaries both in Sweden and abroad.
In total, the Group has sales of approximately £2 billion (2019) and the number of employees amounts to just over 607 people. KABE Group AB is listed on the OMX Nordic Exchange.