At what enterprise value was Firtal Group acquired in 2018?

During the acquisition of Firtal Group by MATAS GROUP in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 100M - 350M DKK. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of Firtal Group when it was acquired by MATAS GROUP?

The estimated EV/EBITDA multiple for Firtal Group is in the range of 10x - 18x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was Firtal Group acquired by MATAS GROUP?

Firtal Group was acquired by MATAS GROUP in 2018.

What was the revenue of Firtal Group at the time of the deal?

The revenue of Firtal Group at the time of the deal is estimated to be in the range of 100M - 200M DKK. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of Firtal Group during the acquisition?

Firtal Group's EBITDA is estimated to be in the range of 5M - 25M DKK. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the Firtal Group acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the Firtal Group deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.carnegie.dk/nyheder/carnegie-acted-as-exclusive-financial-adviser-to-matas/

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Home Database TMT (Tech, Media, Telecom)Firtal Group

11/2018

Firtal Group acquired by MATAS GROUP

DENMARK Media & Internet / E-commerce & Marketplaces EV 100M - 350M DKK

Context

Matas Group announced the completion of its acquisition of Firtal Group Aps, a transaction that was executed under the exclusive financial advisory of Carnegie. The deal marks the first major external growth initiative undertaken by Matas since its diversification beyond the retail cosmetics and personal care segment. Firtal Group, established in the early 2000s, operates a portfolio of specialty distribution and logistics assets that serve a range of consumer product manufacturers across the Nordic region. The integration of Firtal’s network is positioned to complement Matas’ existing supply chain capabilities and to broaden its market reach. The strategic rationale for Matas centres on the creation of a vertically integrated value chain that enhances control over inbound logistics, inventory management and last‑mile delivery. From the buyer’s perspective, the acquisition provides immediate access to a mature distribution platform, thereby reducing reliance on third‑party carriers and generating economies of scale in transportation and warehousing. Moreover, the transaction aligns with Matas’ long‑term objective of diversifying revenue streams and strengthening its position as a full‑service provider to both end‑consumers and B2B partners. Operationally, the combined entity is expected to realise synergistic efficiencies through the consolidation of warehousing facilities, the harmonisation of IT systems, and the optimisation of route planning algorithms. The integration plan anticipates a phased migration of Firtal’s client contracts into Matas’ enterprise resource planning suite, facilitating enhanced data visibility and cross‑selling opportunities. In the medium term, the enlarged logistics footprint is projected to support incremental capacity for new product categories and to underpin Matas’ ambition to capture a larger share of the Nordic e‑commerce fulfilment market.

Firtal Group, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Firtal Group is a Danish e-commerce company specialising in online retail platforms focused on health, beauty and wellness products. Founded in 2007 and headquartered in Lystrup near Aarhus, the company has built its business around digital commerce expertise, brand development and customer-focused online experiences. The group operates several online stores, including Helsebixen.dk, Made4Men.dk, Well.dk and Jala-helsekost.dk, offering a broad range of products related to health, personal care and wellbeing. Through its expertise in digital marketing, data-driven optimisation and online customer journeys, Firtal has established itself as a recognised player in the Danish e-commerce market.

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REFERENCES

Valuation range: EV 100M - 350M DKK

Revenue range: 100M - 200M DKK

EBITDA range: 5M - 25M DKK

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Firtal Group by MATAS GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: firtal group

Acquirer: matas group