- Accent Equity has entered into an agreement to divest all its shares in Scandinavian Cosmetics Group to Storskogen, a Swedish listed SME compounder
- Management and key employees will remain as minority shareholders and develop the company in partnership with Storskogen
- During Accent Equity’s ownership period since 2019, both organic and acquisitive growth have expanded SCG’s coverage to all Nordic countries and several investments and initiatives have significantly boosted profitability
The investment fund Accent Equity 2017 AB (“Accent Equity”) has signed an agreement to sell all its shares, covering 91% of the total number of shares, in Scandinavian Cosmetics Group (“SCG” or the “Company”) to Storskogen 3 Invest AB (“Storskogen”), a Swedish listed SME compounder. Current management shareholders will remain as minority shareholders.
Since Accent Equity became the majority owner of SCG in 2019, both organic and acquisitive growth has expanded SCG’s coverage to all Nordic countries. In further combination with investments in a state-of-the-art IT platform and a central automated warehouse, SCG’s has during Accent Equity’s ownership period continued to strive with multiple new brand owners and strong development among its luxury brands, significantly boosting profitability despite the volatile market conditions during the pandemic.
“Scandinavian Cosmetics Group has developed rapidly during Accent Equity’s ownership, by strengthening our offering to brand owners and retailers in order to stimulate mutual growth ambitions in both existing and new markets. Accent Equity and the board have been good support for the management team in transitioning the company into a Nordic group, and have shown a strong commitment to the company through significant and crucial infrastructure investments to accelerate further growth. We are now very pleased to partner with Storskogen for the long-term, and we look forward to further developing the company in collaboration with them”, says Joakim Johnsson, Group CEO of Scandinavian Cosmetics Group.
“We have been truly impressed by Scandinavian Cosmetics Group’s management team and how they have developed the company over the past years. Not only have they successfully executed major internal projects at the same time as steering the company safely throughout the pandemic, they have also strengthened its position as the leading brand management company for luxury brands in the Nordic region”, says Daniel Winberg, Partner at Accent Equity.
The transaction is conditioned on merger clearance and is therefore expected to close during Q2 2022. Mannheimer Swartling (legal) assisted Accent Equity in connection with the transaction.
For additional information, please contact:
Daniel Winberg, Partner at Accent Equity, +46 702 47 41 47
Joakim Johnsson, Group CEO of Scandinavian Cosmetics, +46 70 666 51 46
About Scandinavian Cosmetics Group:
Scandinavian Cosmetics Group is the leading Nordic brand management company within high-end cosmetics, representing more than 80 brands in Sweden, Norway, Denmark, and Finland. The company has a key role in the whole value chain for luxury and semi-selective brand owners, offering brand building, marketing services, category management and distribution services to a sales network consisting of retailers, fashion houses, concept stores, pharmacies and e-commerce. The company is headquartered in Malmö, Sweden, and has more than 235 employees. The total turnover for 2021 was in excess of SEK 1.1 billion. scandinaviancosmeticsgroup.com
About Accent Equity
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
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