Information on the Target

eEquity has announced its agreement to acquire Prisjakt Sverige AB from Schibsted Marketplaces. This marks eEquity's re-entry into the price comparison sector, an area where they have established a strong track record, notably demonstrated through their investment in Pricerunner back in 2020. That investment was sold to Klarna less than two years later for nearly 20 times its original valuation.

Prisjakt is a prominent Nordic digital platform that specializes in price comparison and product information. For over two decades, it has empowered consumers to make informed purchasing decisions by providing access to over 6 million products, 230 million prices, and more than 70,000 brands. With robust traffic, high user loyalty, and extensive data coverage, Prisjakt is well-prepared for its next phase of growth.

Industry Overview in Sweden

The price comparison industry in Sweden has experienced significant growth, driven by the increasing consumer demand for transparency and value in purchasing decisions. As online shopping continues to gain traction, digital platforms that facilitate price comparisons have become essential tools for savvy consumers looking to maximize savings.

In recent years, advancements in technology and artificial intelligence have transformed how price comparison services operate, enabling them to deliver more user-friendly experiences and accurate product indexing. This trend enhances the competitive landscape, leading to higher standards of consumer service and empowering users to make better purchasing choices.

Moreover, recent shifts in the competitive environment, including Klarna's announcement to discontinue Prisguiden in Norway, have opened up new avenues for growth for Prisjakt. As consumers seek reliable price comparison services, Prisjakt stands to benefit significantly from this transitional phase in the industry.

Additionally, the ongoing scrutiny surrounding Google's pricing displays has raised questions about transparency, further underscoring the importance of independent platforms like Prisjakt. These developments create not only operational growth potential but also opportunities for compensation related to litigation against anti-competitive practices within the industry.

The Rationale Behind the Deal

The acquisition aligns seamlessly with eEquity’s strategy of investing in profitable, data-driven consumer services with clear scalability. Prisjakt reported SEK 440 million in revenue over the past twelve months, demonstrating over 20% growth in Q1 2025. With an EBITDA of SEK 120 million, corresponding to a 27% margin, the transaction was executed at an attractive multiple of under 4.0x EBITDA due to Schibsted's intention to concentrate on its core verticals.

eEquity is enthusiastic about the potential for further technological advancements and operational efficiency at Prisjakt, particularly through leveraging artificial intelligence to enhance the user experience and expand into additional product categories.

Information About the Investor

eEquity is a respected Nordic private equity firm focused on investing in growth companies across the Nordics and Northern Europe. With a track record spanning over a decade, eEquity has committed more than EUR 400 million to various companies, such as PriceRunner, Chimi, Gordon, John Henric, Aim’n, and Voyado. Their active investment approach, characterized by an entrepreneurial mindset, emphasizes building strong relationships with portfolio companies.

The firm’s expertise in the digital marketplace, combined with a proven history of successful investments, positions them well to maximize the potential of Prisjakt. eEquity’s Managing Partner, Magnus Wiberg, expressed confidence in their ability to further capitalize on Prisjakt’s strengths and opportunities for expansion.

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This acquisition of Prisjakt by eEquity could be a strategically sound investment given the current market conditions. As consumers increasingly rely on price comparison services for informed purchasing decisions, Prisjakt’s established brand and extensive database position it for continued growth.

The recent shifts in the competitive landscape, especially with the discontinuation of competing services like Prisguiden, appear to provide an advantageous market opportunity for Prisjakt to capture additional market share. Furthermore, the potential compensation from ongoing litigation against Google could present significant upside for the company.

Additionally, eEquity’s experience in this sector and its strategic focus on technological enhancements are likely to further strengthen Prisjakt’s market position. Their commitment to leveraging AI for product indexing and consumer experience enhancements could yield operational efficiencies and increased profitability.

In summary, considering the promising growth trajectory of the price comparison service industry, coupled with Prisjakt's strengths and eEquity's capabilities, this acquisition seems to be a judicious investment, poised for success in the evolving market.

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