Axel Westerberg

TM & Partners has advised CombinedX AB (publ) in connection with the divestment of Nethouse

TM & Partners has advised CombinedX AB (publ) in connection with the divestment of its wholly owned subsidiary Nethouse to Nordlo. The purchase price amounts to SEK 345 million on a cash and debt-free basis.

Nethouse specializes in robust cloud and IT infrastructure, with a focus on systems and applications requiring high levels of availability and security. The company was founded in 1998 and became part of CombinedX in 2020. In the financial year 2025, Nethouse reported revenue of SEK 253 million and EBITA of SEK 34.8 million, excluding management fee.

Nordlo is a Swedish IT group operating in Sweden and Norway, consisting of approximately thirty companies with combined revenues of around SEK 2.5 billion. The group has a strong focus on managed services and cloud-based delivery within infrastructure and cybersecurity.

Read more here: https://www.combinedx.com/sv/investerare/ir-nyheter/2026/combinedx-har-ingatt-avtal-om-att-avyttra-nethouse/

The TM & Partners team consisted of:
Per Granström (Partner)
Mikael Ahlberg (Counsel)
Axel Westerberg (Associate)

For further information, please contact the responsible partner:
Per Granström
per.granstrom@tmpartners.se
+46 76 00 283 60

TM & Partners has advised Refine Group in connection with the acquisition of Andy okay and a capital raise

TM & Partners has advised Refine Group AB (publ) in connection with the acquisition of 51 percent of the shares in Andy okay AB and a directed share issue, which partially financed the acquisition.

Refine is a corporate group that owns, develops, and scales brands within digital commerce. The company’s shares are listed on Nasdaq First North Growth Market.

The TM & Partners team consisted of:
Philip Rämsell (Partner, M&A)
Axel Westerberg (Associate, M&A)
Jonas Hämälä (Partner, Capital Markets)
Philip Bihl (Senior Associate, Capital Markets)
Johanna Sternudd (Associate, Capital Markets)

TM & Partners is one of Sweden’s leading business law firms, specializing in transactional advisory and other advanced commercial legal services.

For more information, please contact:
Philip Rämsell
Email: philip.ramsell@tmpartners.se
Phone: +46 735 20 74 68

TM & Partners has assisted in the sale of Capelon AB

TM & Partners has assisted the shareholders of Capelon AB in the sale of the company to Fagerhult Group. Capelon is a market leader in the development and sale of smart outdoor lighting and has been active for more than 20 years. With a scalable and open IoT-platform for smart cities, Capelon enables smarter and more environmentally friendly outdoor lighting solutions for cities of the future. 

Our team consisted of:
Ammar Khan (Partner, M&A)
Johan Mörlin (Associate, M&A)
Tom Bovaller (Associate, M&A)
Axel Westerberg (Associate, M&A)
Carl Östlund (Senior Associate, Employment law)
Ludvig Tidhult (Associate, Tech)

 For more information, please contact:
Ammar Khan
E-mail: ammar.khan@tmpartners.se
Phone: +46 76-00 283 92