Swedish recruitment services firm Hedera Group announced that it has signed a Letter of Intent to acquire Assistansbolaget, an automotive insurance agency based in Sweden.

The expected purchase price amounts to SEK 20 million (€1.8 million).

Assistansbolaget has a turnover of approximately SEK 100 million (€9.3 million) and an operating profit of SEK 5 million (€0.4 million).

Earlier this month, Hedera Group announced that CEO Maria Nordin had resigned from her role. Nordin will remain as the CEO until a new successor is appointed, however, the group added that this will be no later than 15 November 2019.

Hedera Group reported revenue for the first quarter ended 31 March 2019 of SEK 43.4 million (€4.0 million), an increase of 3.3% compared to last year.