Splendor Plant acquired by Seafire

Seafire AB has entered into a definitive agreement to acquire all outstanding shares of Splendor Plant AB, a wholesale plant nursery operating across the Nordic region. The transaction is structured as a cash and debt‑free purchase on a cash basis, with a conditional earn‑out component tied to post‑closing performance metrics. The acquisition follows Seafire's recent rights issue, which provides the necessary equity capital to fund the deal and to support future growth initiatives. The rationale for the acquisition is to broaden Seafire's footprint in green infrastructure by adding a well‑established B2B plant supplier to its portfolio. Splendor Plant's product range of trees and shrubs complements Bara Mineraler AB's mineral offerings, creating opportunities for bundled solutions to municipal and landscaping clients. The combined entity is expected to increase pro forma revenue by roughly 21 percent and adjusted EBITA by about 39 percent, enhancing overall profitability and scale. Operationally, the integration will align Splendor Plant's propagation and logistics capabilities with Seafire's existing distribution network, reducing overlapping costs and improving service levels. The transaction lowers the group's net‑debt to adjusted EBITDA leverage to between 1.7x and 2.4x, thereby expanding financial capacity for additional acquisitions. The expanded product suite and enlarged customer base are projected to strengthen market positioning and drive incremental organic growth.