Squire Patton Boggs and Vinge have jointly advised ITAB Shop Concept AB (“ITAB”) on its successful acquisition of Financière HMY (“HMY Group”) for a cash consideration of EUR 320 million on a cash and debt free basis. All conditions for the transaction and closing have now been fulfilled, and the acquisition was completed on 31 January 2025.
The Squire Patton Boggs team, co-led by partners Tony Reed in Paris and Fergus Gallagher in London, assisted by Dan Hassett and Matthew Vautrey and more than 50 team members across seven offices, advised ITAB on the M&A aspects of the transaction, with the Vinge team, co-led by Eric Sjöman, Jesper Ottergren, Henrik Borna, Henrik Ossborn and Fredrik Christiansson, advising on the equity and debt financing.
Tony Reed said, “We are delighted to support ITAB on its significant strategic expansion. The Squire Patton Boggs multidisciplinary teams across Europe and the UK worked closely with leading Swedish firm Vinge to deliver this transaction – an acquisition that accelerates ITAB’s geographic expansion, particularly into the retail markets in Western and Southern Europe, and complements its core product offering to the sector.”
ITAB has operations in some 24 countries and 15 production facilities in Europe, South America, and China. Its offering includes solution design, customised shop fittings, checkouts, consumer flow solutions, professional lighting systems and digitally interactive solutions for the physical store. ITAB is currently the market leader of checkouts to retailers in Europe, and one of Europe’s largest suppliers of shop fitting concepts and lighting systems.
HMY Group, founded in 1960 and headquartered in Monéteau, France, a leading European supplier of shop fittings, checkouts and store design to the retail industry, in mainly Europe, South America and the Middle East.