Hedin Mobility Group acquires SternFacilitair from Stern Groep N.V.
Hedin Mobility Group AB (publ) announces that it has reached agreement with listed Dutch automotive retail Group Stern Groep N.V. regarding the purchase of all shares in SternFacilitair B.V. The share purchase agreement was signed on 10 January 2022 and the transaction concerns all business assets of Stern’s core activities, which consist of the dealer activities, the car repair activities, the car rental activities and holding activities.
Stern, with an annual turnover of 751 MEUR (2020) and 47 dealerships, is one of the largest car retail groups in the Netherlands, selling approximately 50,000 cars per year. Stern provides a full scale automotive business with dealerships, car repairers, car rentals and leasing. Stern represents leading car brands such as Mercedes-Benz, Renault, Nissan, Ford, Volvo, Land Rover, Kia and Opel.
Anders Hedin, CEO Hedin Mobility Group:
"Together, Stern and Hedin will achieve commercial synergies and take the next step in creating a pan-European mobility provider, with Stern as the Dutch hub. In terms of size, Hedin Mobility Group is growing into the seventh largest dealer group in Europe. The automotive sector is changing and car manufacturers and other business partners are looking for professional parties that contribute to a better customer experience and loyalty. We look forward to working with Stern's team to achieve this goal."
Henk van der Kwast, CEO Stern Group:
"We believe that with Hedin Mobility Group a very good partner has been found for Stern. Stern is a solid company and has had a valuable position in the Dutch market for years, but we also see that car distribution is rapidly crossing national borders. Building our organization into a pan-European group on our own requires a lot of time and money and is not without risk because in the coming period there will be many changes in the relationships within our industry. That is why we are joining a strong player that already operates pan-European and thus we are also strengthening our position in the Netherlands."
The transaction is subject to the approval by the shareholders in Stern, and requires a normal majority of the registered shareholders. The Extraordinary general meeting is planned for 23 February 2022. Holders of more than 50% of the shares have agreed to the transaction by issuing irrevocable voting instructions.
For further information:
Anders Hedin, CEO, anders.hedin@hedingroup.com
Media: press@hedingroup.com
About Hedin Mobility Group
Hedin Mobility Group is one of Europe's largest privately owned car dealers. The Group's portfolio includes over 30 car brands and the company provides full service for both private and corporate customers. The business is represented in more than 140 locations in Sweden, Norway, Belgium, Switzerland and Germany.
The portfolio also includes the general distribution of Ford and MG in Sweden, Dodge and RAM in Europe, wholesale operations of tires and spare parts, the car rental company Mabi Mobility AB, the private leasing company Car to Go Sweden AB, the corporate leasing company Unifleet AB and co-ownership in Pendragon PLC and iMove AS.
Hedin Mobility Group is part of the Hedin Group together with Tuve Bygg AB and I.A. Hedin Fastighet AB. Hedin Group is also a partner in Consensus Asset Management and Ripam Invest AB, which owns Marstrands Kurhotell, Kurbadhus and Societetshus. www.hedingroup.com