Vertiseit acquires Visual Art and Bonnier Capital becomes the largest shareholder

Bonnier Capital’s portfolio company Vertiseit, listed on Nasdaq First North in Stockholm, acquires the Swedish company Visual Art and jointly form a leading player in the Digital Signage and In-store Experience Management market.

The investment is well aligned with Bonnier Capital’s strategy to, as an active long-term owner, back talented entrepreneurs and support companies with attractive growth ambitions.

“Bonnier Capital has been following Vertiseit and Visual Art for quite some time and is impressed by the companies’ position and development. We are very positive about being part of and enabling this strategic deal and becoming the main owner of Vertiseit”, says Carl Backman, CEO of Bonnier Capital, who is proposed to join Vertiseit’s board of directors.

For Vertiseit, the acquisition represents a significant step towards achieving the company’s long-term goals, where its already strong organic growth is complemented by a wide range of international clients, a robust technical platform, and many new talented employees.

“We are very pleased to acquire Visual Art, a company with a strong brand and a fantastic team of skilled employees who have been instrumental in the development of our industry. Together, we are shaping a clear leader in our field with the ambition to become a globally leading platform company. I also want to take this opportunity to thank Bonnier Capital for their trust and commitment – without them, this deal would not have been possible”, says Johan Lind, CEO of Vertiseit.

The combined entities had net revenues of some SEK 692 million in 2023 and an EBITDA margin of 13 percent. Recurring software revenue of approximately SEK 250 million constitutes the joint group’s most important growth segment with over 20 percent growth rate. The companies’ clients include well known global brands such as Marks & Spencer, Bosch, McDonalds, Circle K, Spar, Volkswagen, 7-Eleven, Porsche, ICA, Subway and BMW.

The joint group will have approximately 270 employees and local presence in Sweden, Norway, Denmark, Finland, Germany, Austria, Spain, UK and USA.

The purchase price amounts to approximately 469 million SEK and is financed through debt and a directed share issue to selling shareholders in Visual Art and to Bonnier Capital, where Bonnier Capital’s investment amounts to 200 million SEK. Post transaction, Bonnier Capital’s ownership in Vertiseit will increase from less than 2% to almost 18% of outstanding shares.

The directed share issue and board appointment are subject to approval by Vertiseit’s Extra General Meeting to be held of 28 October. Shareholders representing 75 percent of the votes and 52 percent of the shares have committed to voting in favor of the proposal.

For more information, contact Carl Backman on +46 70-397 90 05 or carl.backman@bonnier.se

About Vertiseit

Vertiseit is a leading Digital In-store company offering the In-store Experience Management (IXM) SaaS platforms Grassfish and Dise. During the period 2012-2023, Vertiseit performed an average profitable growth of recurring SaaS revenue (ARR) of 53 percent (CAGR). For the full year of 2023, the group’s net revenue amounted to SEK 348 million, with an adjusted EBITDA margin of 17 percent. Since 2019, Vertiseit’s B-share is listed on Nasdaq First North Growth Market.