Relais Group Expands in European Truck Accessories with Major Stake in Matro Group

Deal News | Apr 07, 2025 | PR Newswire Cision Relais Group Oyj

Relais Group Plc, through its subsidiary Strands Group AB, has signed an agreement to acquire a 70% stake in Belgium-based Matro Group. The acquisition is expected to significantly enhance Relais Group's presence in the European truck accessories market. Matro Group, a key distributor of truck accessories in Benelux and Germany, was founded in 1988 and includes its proprietary brand, Nedking. This strategic acquisition aims to foster deeper cooperation between Strands and Matro, expanding their market reach and enabling Strands to lend its brand development expertise to globalize the Nedking brand. Matro Group's performance metrics for 2023 and 2024 reveal consistent growth, with the acquisition expected to close by June 2025, contingent upon the finalization of a partial demerger of Matro's parent company, GG Trading B.V. The transaction includes an enterprise value of EUR 27.9 million and a purchase price of EUR 19.9 million for 70% equity, with a put and call option to acquire the remaining 30% in five years. This acquisition aligns with Relais Group's strategy to expand through targeted acquisitions, particularly in the vehicle aftermarket segment.

Sectors

  • Automotive Aftermarket
  • Private Equity & M&A

Geography

  • Europe – The acquisition expands Relais Group's footprint across Europe, particularly within the truck accessories market.
  • Belgium – Matro Group, the acquisition target, is headquartered in Belgium, and plays a crucial role in the transaction.
  • Nordic and Baltic Countries – Relais Group's primary operational area where it aims to consolidate its market position in the vehicle aftermarket industry.

Industry

  • Automotive Aftermarket – The acquisition enhances Relais Group's ability to consolidate its position in the vehicle aftermarket and truck accessories sector.
  • Private Equity & M&A – Relais Group's acquisition of a majority stake in Matro Group represents a strategic M&A transaction aimed at growth through vertical integration.

Financials

  • EUR 27.9 million – Agreed enterprise value of Matro Group.
  • EUR 19.9 million – Preliminary purchase price for 70% of the equity in Matro Group.
  • EUR 5.0 million – Portion of the purchase price to be financed with a vendor note.
  • EUR 18.1 million – Matro Group's net sales for 2023.
  • EUR 18.7 million – Matro Group's net sales for 2024.
  • EUR 3.7 million – Matro Group's EBITDA for 2023 and 2024.
  • EUR 3.6 million – Matro Group's EBIT for 2023 and 2024.
  • EUR 7.5 million – Matro Group's equity in 2024.
  • EUR 9.9 million – Matro Group's total assets in 2024.

Participants

NameRoleTypeDescription
Relais Group PlcAcquirerCompanyA leading consolidator in the Nordic and Baltic countries' vehicle aftermarket sector, aiming for growth through strategic acquisitions.
Matro GroupTarget CompanyCompanyA well-established distributor of truck accessories in Benelux and Germany with its brand Nedking, being acquired for strategic expansion.
Glenn GilsCEO & Owner of Matro GroupPersonThe leader of Matro Group overseeing its operations and the current partial demerger required for the acquisition completion.
Strands Group ABSubsidiary InvolvedCompanyA subsidiary of Relais Group responsible for executing the acquisition and expanding its brand, leveraging Matro Group's assets.
GG Trading B.V.Parent Company of Matro GroupCompanyCurrently undergoing a partial demerger to facilitate the Matro acquisition by Relais Group.
Johan CarlosManaging Director of StrandsPersonPlays a strategic role in integrating Matro Group into Relais, focusing on expanding the Nedking brand.
Arni EkholmCEO of Relais GroupPersonOverseeing the acquisition to strategically expand Relais Group's footprint in Europe.