Background
Wallmann is one of Denmark’s leading wholesalers of flooring and related building materials.
In 2019, the owner wanted to complete a succession process after many years of successful ownership. The objective was to find a solution that ensured the business’s continued development while providing security for employees, customers and partners.
I participated as an investor and board member in the group that completed the succession.
Starting point
At the time of acquisition, Wallmann had:
- Revenue of approximately DKK 142 million
- EBITDA of approximately DKK 6.8 million
- A strong market position
- Loyal customers and suppliers
- A skilled team of employees
- An owner-manager seeking a responsible, long-term transition
The process
The succession was completed gradually.
The investor group initially acquired 51% of the business in 2019 and subsequently increased its ownership as the succession progressed. By 2022, the business had been fully acquired.
The succession begins after many years of successful ownership by the previous owner.
Ownership increases as the succession is completed. By 2022, the business is fully acquired.
Organisation, management, systems and market position are developed in parallel with the change of ownership.
The business is sold after a successful succession and six years of active development.
Alongside the change of ownership, focused work was carried out to professionalise and further develop the business. Initiatives included:
- Strengthening the organisation and management
- Expansion of the finance function
- Implementation of a new ERP system
- KPI-based management reporting
- Digitalisation of key workflows
- Establishment of a project department
- Establishment of a Swedish subsidiary
- Increased focus on marketing and branding
- Strengthened sustainability profile
- Clearer market positioning
The result
After six years of ownership, Wallmann had been transformed from a traditional owner-managed wholesaler into a professional and scalable market leader.
The development included:
- Revenue increased from approximately DKK 142 million to more than DKK 170 million
- EBITDA increased from approximately DKK 6.8 million to more than DKK 16 million
- EBITDA growth of approximately 19% per year
- Strengthened organisation and management structure
- Significantly improved earnings and value creation
In February 2025, Wallmann was sold to Riisfort A/S after a successful succession and six years of active development of the business.
My role
- Investor
- Board member
- Strategic sparring partner
- Active participant in the transformation and development work
What does the case demonstrate?
Wallmann illustrates the type of assignments on which I assist owner-managers: