Since its stock market listing, Wesports Group has been active on the acquisition front. The group has acquired several companies in niches such as cycling, running and outdoor activities.
Now the next step is being taken to finance the strategy. The previous credit facility of SEK 450 million is being replaced. Instead, the e-commerce company is entering into a three-year agreement with a base of SEK 750 million and an option that can increase the sum to SEK 1 billion.
The agreement extends over three years and has two extension options of one year each.
Aiming for SEK 10 Billion
With the new capital in place, the e-commerce group is ready to continue acquiring and developing specialist companies. The agreement provides lower financing costs and fewer operational restrictions compared to the previous agreement.
The increased cash flow is part of the company's plan to scale up operations in the coming years.
The new banking agreement with Nordea enables further acquisitions in line with our disciplined strategy to reach and consolidate leading positions within the most attractive sports and leisure categories. This allows us to take further steps towards our financial goals – an adjusted EBITA margin of 7-8 percent and a net turnover of SEK 10 billion in 2031, says Ted Sporre, CEO of Wesports Group.