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This report is accessible on EMAT, the reference database for private company acquisition multiples



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Transaction Multiples for the Valuation of Private Companies

Solar / Onninen AB’s HEPAC business segment in Sweden

No EMAT : 98145
Announced Date : 12/03/2019
Type : Acquisition of Majority Stake
Deal Value : Yes
Acquirer : Solar

Target : Onninen AB’s HEPAC business segment in Sweden
Country : Sweden
Sector of activity :
  • Building Materials & Fixtures > Construction & Building Materials > Distribution of Materials & Equipment for Buildings / Public Works
  • Electrical Components & Equipments > Electrical / Electronic Equipment > Heating Components & Equipments
Business Description :
Onninen AB’s HEPAC business segment in Sweden includes the heating, plumbing and air-conditioning business, which serves mostly SME contractor clients . > Includes 12 branches (Onninen Express...

Transaction multiples available
Gross Profit
P/E Price
to Book
Rating : ***
Multiple available
n.s.   Multiple calculated, but not significant

Source: Epsilon Research / EMAT

Comparable Transactions

  • Number of EMAT Reports / sub-sector « Distribution of Materials & Equipment for Buildings / Public Works » = 52
  • Number of EMAT Reports / sub-sector « Heating Components & Equipments » = 30
Example of comparable transactions on EMAT (same sub-sector):
Date Acquirer Target Country Multiples See details
17/01/2020 Loomis Nokas Värdehantering Sweden *** 98236
21/04/2020 Morningstar Sustainalytics Netherlands * 100726

Source: Epsilon Research / EMAT

About Epsilon Research

Epsilon Research is an independent research and financial analysis bureau, and the reference source of transaction multiples for the valuation of private companies through its EMAT database.

EMAT Report

► Each EMAT Report includes the detailed analysis of the transaction: deal rationale and structure, target business lines and financials (restated), valuation multiples (calculation and analysis).


► Example of EMAT Report