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November 18, 2025

Swedish retailer Clas Ohlson acquires Phonelife at EV/EBITA of 10x and Reservdelaronline at EV/EBITDA of 6x

Swedish retailer Clas Ohlson has agreed to acquire 70 percent of Phonelife, which operates the Phonelife and Teknikmagasinet channels, and 70 percent of Reservdelaronline, strengthening its position in technology accessories and spare parts. Phonelife has 30 employees and is forecasting 2025 revenue of SEK 207m and adjusted EBITA of SEK 18.4m. The company is valued at an EV of SEK 184m, corresponding to an EV/EBITA (2025E) multiple of 10x, and the remaining 30 percent will be acquired in three years at 10x EBITA based on 2028 results. Reservdelaronline is forecasting SEK 59m in revenue and SEK 7.5m in EBITDA for 2025. It is valued at an EV of SEK 45m, reflecting an EV/EBITDA (2025E) multiple of 6x, with the remaining 30 percent to be purchased in three years at 8x EBITDA. Both acquisitions will be financed with cash and will close on 25 November 2025, further expanding Clas Ohlson’s presence in fast growing and sustainability aligned categories.
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