Family-owned Hedin Group welcomes Erik Selin as new shareholder, restructures and lay the foundations for continuous expansion
The Hedin family welcomes Erik Selin as new shareholder and look forward to developing the group further to an even more important European actor in the automotive sector, at the same time a new group structure is launched.
”The automotive sector is changing and we are currently facing a strong expansion phase, both in Sweden and Europe and I am very positive that Erik, in addition to his engagement in the board, also wants to become an owner of the company. With a strong and competent shareholder on board we can expand even faster, which enables further growth and international expansion”, says Anders Hedin, CEO and majority shareholder in I.A. Hedin Bil.
I.A. Hedin Bil has today resolved upon a directed new share issue of SEK 3.57 billion in which Erik Selin, through an indirect wholly owned company, enters as holder of 25 percent of the shares in the Company.
In this connection, the general meeting also decided on a new group structure were all automotive related companies in the Hedin group from today will be held by I.A Hedin Bil AB. These companies include Car to Go Sweden AB, Unifleet AB, Mabi Mobility AB, Hedin MG Sweden AB, Hedin HMC Motor Company AB, Hedin Automotive Switzerland AB, Klintberg & Way Group AB, Hedin IT AB with all subsidiaries as well as shareholding of approx. 23 percent in Pendragon PLC and approx. 24 percent Lasingoo Sverige AB.
Following the aforementioned new share issues 75 percent of the shares in I.A. Hedin Bil are still controlled by the Hedin family.
Through the restructuring the I.A. Hedin Bil group will increase its annual turnover with approximately SEK 10 billion and expects to reach a total turnover of SEK 35 billion and a sale of 125 000 vehicles in Europe for 2021.
“I have been a member of the board of I.A. Hedin Bil for a few years and have been following the exciting growth of the Hedin Group and I am very pleased and positive to continue the journey with the group and the Hedin family as a partner”, says Erik Selin.
For further information:
Anders Hedin, CEO, anders.hedin@hedingroup.com
Media: press@hedingroup.com
This information is information that I.A. Hedin Bil Aktiebolag (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-10-27 16:50 CEST.
About Hedin Bil
I.A. Hedin Bil is one of the largest privately-owned automotive retailers in Europe, with 30+ brands in the portfolio, offering full service for private and corporate customers. Hedin Bil is represented in appr. 120 locations in Sweden, Norway, Belgium and Switzerland. www.hedinbil.se
® I.A. Hedin Bil is a registered trademark owned by Hedin Group (91 %) and Ingemar Hedin (9 %).
Hedin Bil is a part of the Hedin Group together with Klintberg & Way, Mabi Mobility, Car to Go, Hedin Motor Company and Tuve Bygg. Hedin Group is also a partner in Lasingoo, Consensus Asset Management and imove. The Group has a turnover of approx. 3.5 billion EUR and 3,600 employees. www.hedingroup.com