Renato Rios has written about Byggmästaren’s recent acquisitions. 
Byggmästaren announced that its largest portfolio company, Safe Life, completed four acquisitions in the second quarter of 2024, adding approximately EUR 20 million in annual revenue. In our view, these acquisitions demonstrate that Safe Life’s “buy and build” strategy remains highly active after Bridgepoint became the majority owner last year. The additions also fit logically into the group’s ongoing transition toward recurring revenue. The announcement does not trigger immediate forecast changes, as our valuation framework for Safe Life already assumes a steady pace of acquisitions. However, considering the EUR 20 million in revenue acquired in Q2 alone, we are reviewing whether the forecast range for revenue from future acquisitions should be raised.