OmniCar receives large capital injection from leading Nordic player

March 10th Omnicarservice.dk has announced that Mekonomen Group invests 19 MSEK through a private placement in the company. https://lnkd.in/dFgjmHZa. Mekonomen is a leading automotive spare parts chain in northern Europe. The company has proprietary wholesale operations, more than 470 stores, and almost 3,600 workshops. The market capitalization of Mekonomen is approx. SEK 6,3 billion. Mekonomen will pay 1,38 SEK per share, which represents a premium of app. 3% in relation to the closing price on 9 March 2022 and app. 8% about the average share price during the last 30 trading days. After the transaction, Mekonomen will own about 20,5% of the company. In connection with Mekonomen’s investment in Omnicar, the Board of Directors and Executive Management of the Company have undertaken to invest 6 MSEK in the Company by subscription of 4,350,000 newly issued shares on the same terms as Mekonomen, i.e. at a subscription price of 1,38 SEK per share. The news is a seal of approval from one of the leading companies in the workshop area in the Nordic region. The capital raise also solves the financing side of the large expansion, which has been one of the uncertainties in the share. On the business side, there should also be some important synergies that could help Omnicar achieve the very aggressive plans that they have for the future. (70 repair vans in the midterm, up from 8 ending this year). The roll-out of the OCS (repair vans) business in the Nordic region will now have support from a back-end on spare parts etc. Cross-selling/promotion opportunities in the new business area online E-car platform could also be significant if the potential customer database of Mekonomen can be activated. Tomorrow at 11:00 we host an event with the Chairman of the Board Claus T. Hansen and CEO Mikkel Kofod Christensen. In the event, they will provide more detail of this transaction and the strategic rationale around it. You will also be able to ask questions live. HC Andersen Capital receives payment from Omnicar Holding AB through a Digital IR/Corporate Visibility agreement. /Michael Friis 10-03-2022, 12.28