Sten Hedbäck

We are legal advisor to Team Olivia in connection with sale to Humana

We advised Team Olivia in connection with the sale of Team Olivia’s Norwegian operation to Humana. The operation, which in the transaction is valued at SEK 341 million on a cash and debt free basis, provides services to appr. 1,000 customers and employs appr. 2,000 employees, with annual sales of appr. SEK 910 million.

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2024.

Team Olivia’s main owner is Procuritas Capital Investors IV GP Ltd.

Our team consists of:

• Sten Hedbäck (Partner, M&A)
• Johan Mörlin (Associate, M&A)
• Arvid Riemer (Associate, M&A)
• Samuel Net (Associate, M&A)
• Alexandra Rosell (Senior Associate , Tech)

For more information, please contact Sten Hedbäck:
E-post: sten.hedback@tmpartners.se
Tel: +46 76 00 283 05

Legal advisor to NetNordic in connection with the acquisitions of EdgeGuide and Gohybrid

We have assisted Norvestor’s portfolio company NetNordic, a Nordic system integrator specialized in solutions and services within Network, Security, Cloud and Collaboration, in connection with the acquisition of Gohybrid in October 2023 and the acquisition of EdgeGuide in January 2024.

Our team consisted of:

• Sten Hedbäck (Partner, M&A)
• Anna Elheim Sylten (Senior Associate, M&A)
• Tom Bovaller (Associate, M&A)
• Lovisa Björk (Associate, M&A)
• Louise Warvsten (Associate, M&A)
• Vilma Hansson (Associate, Employment Law)
• Alexandra Rosell (Senior Associate , Tech)

Legal advisor to Team Olivia in connection with sale to Attendo

We advise Team Olivia in connection with the sale of Team Olivia’s Swedish care division, including the operations within Individual & Family and Home Care business, to Attendo. The division, which in the transaction is valued at SEK 950 million on a cash and debt free basis, includes appr. 120 care units with close to 3,000 employees, with annual sales of appr. SEK 1,350 million.

The transaction is subject to customary conditions and approvals and is expected to close in the beginning of 2024.

Team Olivia’s main owner is Procuritas Capital Investors IV GP Ltd.

Our team consists of:

• Sten Hedbäck (Partner, M&A)
• Vaiva Eriksson (Partner, M&A)
• Fredrik Gustafsson (Partner, Tech)
• Anna Jerndorf (Partner, Employment Law)
• Arvid Riemer (Associate, M&A)
• Johan Mörlin (Associate, M&A)
• Tom Bovaller (Associate, M&A)
• Lovisa Björk (Associate, M&A)
• Louise Warvsten (Associate, M&A)
• Carl Östlund (Senior Associate, Employment Law)
• Vilma Hansson (Associate, Employment Law)
• Amela Balijaj (Senior Associate, Real Estate)
• Johan Aronsson (Senior Associate, Real Estate)
• Erik Woodcock (Senior Counsel, Tech)
• Alexandra Rosell (Senior Associate , Tech)
• Carolin Von Oelreich (Senior Associate, Banking and Finance)
• Mikaela Nordh (Senior Associate, Banking and Finance)
• Anastasia Lindström (Associate, Banking and Finance)

For more information, please contact Sten Hedbäck:
E-post: sten.hedback@tmpartners.se
Tel: +46 76 00 283 05

Legal advisor to Permascand Top Holding AB

TM & Partners is advising Permascand Top Holding AB (“Permascand” or the “Company”) in connection with Altor PC AB’s recommended public offer to the shareholders of Permascand. Altor PC offers a cash consideration of SEK 17 per share in Permascand, corresponding to a value of all shares in the Company of SEK 1,008 million.

Permascand is an independent technology-driven manufacturer of electrochemical solutions based on proprietary catalytic coatings for clean tech applications. Permascand is headquartered in Ljungaverk, Sweden, with operations including R&D, Technology Development and Production. Permascand’s shares are admitted to trading on Nasdaq First North Premier Growth Market.

For more information, please visit Permascand’s website.

Our team consisted of:

• Sten Hedbäck (Partner, M&A)
• Johan Wigh (Partner, Capital Markets)
• Philip Bihl (Associate, Capital Markets)
• Jacob Elovsson Hultin (Associate, Capital Markets)
• Vilhelm Norberg (Associate, Capital Markets)
• Tom Bovaller (Associate, M&A)
• Lovisa Björk (Associate, M&A)
• Arvid Riemer (Associate, M&A)

For more information, please contact Johan Wigh:
E-mail: johan.wigh@tmpartners.se
Phone: 076 002 83 26

We have assisted PHM Sweden AB in connection with the acquisition of the Bredablick group

We have assisted PHM Sweden AB (“PHM”) with the acquisition of the Bredablick group (“Bredablick”). Bredablick is one of the top operators within technical and financial management of residential real estate and facility services in Sweden. The acquisition strengthens PHM’s position in Sweden as a national operator with extensive expertise and experience in the financial management, maintenance and technical management of residential properties.

PHM operates in about 70 locations in Sweden from north to south, via its 26 local and independent subsidiaries and circa 1,300 employees. With the acquisition of Bredablick, the number of PHM employees in Sweden will be close to 2 000.
Bredablick was founded in 2009 and has grown into one of the market leaders in Sweden. Bredablick’s services include various services related to technical and financial management of residential real estate as well as facility services.

For more information, please visit PHM Groups webpage.

Our team consisted of:

• Sten Hedbäck (Partner, M&A)
• Sofia Lindh (Senior Associate, M&A)
• Sara Jacobson (Associate, M&A)
• Tom Bovaller (Associate, M&A)
• Lovisa Björk (Associate, M&A)
• Arvid Riemer (Associate, M&A)
• Carl Östlund (Associate, Employment)
• Ulrica Alvestrand Körling (Senior associate, Real Estate)
• Oskar Warberg (Associate, Real Estate)
• Alexandra Rosell (Senior associate, Tech)
• Jesper Björkman (Associate, Banking & Finance)
• Jacob Gustafsson (Associate, Banking & Finance)

New Managing Partner at TM & Partners – “TM & Partners will always strive for excellence”

TM & Partners has today appointed Safa Mahmoudi as new Managing Partner. He succeeds Kristoffer Stråth, who returns to working full-time as partner and head of the firm’s dispute resolution team.

Safa is active in the firm’s real estate team, focusing on domestic and international real estate transactions and commercial tenancy law, and has been part of the firm’s management team since 2020. In addition to his role as Managing Partner, Safa will continue his business in the firm’s real estate practice.

“It is with a great enthusiasm I take over the role of Managing Partner. Under Kristoffer’s leadership, we have made a remarkable transition from a boutique firm with thirty employees “who punch above our weight” to a large firm with close to eighty employees who assist our clients with their most complex transactions.”, Safa says.

Safa continues: “We face new opportunities and challenges and I look forward to leading the changes that today’s society and in particular the development in AI require. An innovative approach is required. In addition to being experts with specialist knowledge, our clients increasingly demand strategic and more holistic advice. We are not only expected to possess the necessary legal expertise and offer high availability, but also to be the trusted advisors who act as a sounding board and a business partner in a broader sense. This requires a clear and intentional business acumen, commitment at all levels and a curiosity of the world around us. In this context, the team at TM & Partners will always strive for excellence.”

Kristoffer Stråth comments: ”Safa will without doubt be a perfect successor as the new Managing Partner. He stands for the firm’s most important core values ​​and has a business drive that is unique! I know that he is absolutely the right person to continue leading the firm’s work with the ambition to realize the incredible power and potential we have in the house – for the benefit of the firm and our clients. I am extremely honoured to have been entrusted with the role of MP since 2018. I will now focus on leading and developing the firm’s dispute resolution team. I see great opportunities for continued growth and to build on the increasingly exciting and challenging assignments we receive. I also look forward to devoting myself fully to client work again.”

At the same time as the change of Managing Partner, Cecilia Rudels, partner Banking & Finance, has been elected as a new member of the firm’s management team. The management team at TM & Partners is now made up of Safa Mahmoudi (managing partner), Anna Jerndorf (partner, labor law), Sten Hedbäck (partner, M&A), Cecilia Rudels (partner, Banking & Finance) and Ewa Ihrman (COO).

TM & Partners has advised Tradera in connection with capital raise

TM & Partners has advised Tradera in connection with a capital raise from Ceder Capital.

Tradera is Sweden’s largest market for second hand goods with a vision to drive the change towards a more circular economy. In 2021, 11.6 million items were sold on the Tradera platform with a gross turnover of SEK 2.7 billion.

TM & Partners’ team was composed of Sten Hedbäck (Partner, M&A), Anna Elheim Sylten (Senior Associate, M&A), Johan Mörlin (Associate, M&A), Louise Warvsten (Associate, M&A) Arvid Riemer (Associate, M&A), Lovisa Björk (Associate, M&A) and Carl Östlund (Associate, Employment)

TM & Partners ranked by Chambers Europe 2022

Chambers and Partners Europe has published the 2022 ranking of Europe’s leading law firms, where we can proudly state that we are ranked in three categories.
TM & Partners are ranked partly as a firm, partly in the following business areas: M&A, banking and finance and employment law. In addition, seven of our partners are ranked: Anna Jerndorf, Cecilia Rudels, Tobhias Brandell, Safa Mahmoudi, Niclas Högström, Per Granström & Sten Hedbäck.

TM & Partners ranked by Chambers Global 2022

Chambers Global has published the 2022 rankings of the world’s leading law firms, where we can proudly state that we are ranked in the business areas banking and finance and M&A. In addition to the business areas, five of our partners are also ranked: Cecilia Rudels, Tobhias Brandell, Niclas Högström, Per Granström and Sten Hedbäck.

TM & Partners has advised Experiential Marketing Invest in connection with the acquisition of all shares in Nine Yards

TM & Partners has advised Experiential Marketing Invest, a part of the TAPAUS Group which is the largest event marketing agency in the Nordics, in connection with its acquisition of all shares in Nine Yards which is one of the largest experiential marketing agencies in Sweden with offices in Göteborg and Stockholm. For further information, please see press release.

TM & Partners’ team consisted of:

• Sten Hedbäck (partner)
• Sofia Lindh (associate)
• Johan Mörlin (associate)

TM & Partners has advised management on Tradera in MBO

TM & Partners has advised the management of Tradera Sweden in connection with its acquisition of the company from PayPal. Tradera is Sweden’s leading circular online marketplace and has established a strong position in the Swedish market, with expected sales of SEK 350 million and profit of SEK 20 million in 2021.

TM & Partners’ team consisted of:

• Sten Hedbäck (Partner)
• Tom Bovaller (Associate)
• Markus Ellström (Associate)

TM & Partners has assisted Cleantech startup Cinis Fertilizer

TM & Partners has assisted Cinis Fertilizer. In connection with the negotiation of long term agreements with Northvolt and the international fertilizer producer Van Iperen International, as well as with a pre-IPO fundraising.

Cinis Fertilizer is a Swedish Cleantech startup that has developed a patented technology for the production of the world’s most environmentally friendly mineral fertilizer. By recycling industrial waste products from the pulp and paper industry as well as the battery manufacturing industry. Requiring 50 percent less energy input through its production, Cinis Fertilizer will create a CO2 footprint 75 percent smaller than that of traditional fertilizers.

Circular product

For production and sale of its circular product, Cinis Fertilizer has recently entered into long term strategic agreements with battery cell supplier Northvolt for purchase of sodium sulphate salt to be recovered from the battery manufacturing processes, and with international fertilizer producer Van Iperen International which in an off-take agreement has committed to purchase Cinis Fertilizer’s entire yearly production of appr. 300,000 tonnes fertilizer during a ten year period.

For the financing of the commercialization of its products, the company has in October 2021 raised SEK 40 million in a pre-IPO financing round and intends to initiate preparations for an IPO on Nasdaq First North in 2022. In connection with the fundraising a new board of directors has been appointed where TM & Partners M&A partner Sten Hedbäck has been appointed board member, together with Anna Kinberg Batra (previous MP and leader of the Swedish conservative party Moderaterna), Viktoria Bergman (board member Vattenfall), Åsa Källenius (CFO Mekonomen) and Morgan Sadarangani (CEO Molindo Energy). Roger Johansson, EVP for the Roxtec business unit Marine & Offshore, continues as Chairman. The company’s founder and innovator Jakob Liedberg is CEO.

TM & Partners’ team working with the agreements has been led by:

• Natalie Bretz (Partner, Real Estate/Infrastructure)
• Karolina Kjellberg (Senior Associate, Tech)
• Catharina Danielsson (Associate, Real Estate)
• Johan Aronsson (Associate, Real Estate)

(M&A Partner Sten Hedbäck led the team working with the fundraising).

For press coverage, see the edition of Dagens Industri.

For press releases, see: Northvolts press release & Cinis Fertilizers press release.

TM & Partners has advised Mimir Capital in connection with the acquisition of all shares in Moelven Modus

TM & Partners has advised Mimir Capital in connection with the acquisition of all shares in Moelven Modus.

Mimir Capital is a global investment firm which focuses on acquiring units of large corporations.

Moelven Modus delivers interior system walls to the professional real estate market, having a turnover of SEK 270 million during 2020. The company employs approximately 140 employees and operates in a decentralised manner with regional offices. For further information, please see press release.

TM & Partners’ team consisted of:

• Sten Hedbäck (partner)
• Sofia Lindh (associate)
• Johan Mörlin (associate)

TM & Partners has advised CyberInsights AB in connection with the acquisition of all shares in Paliscope AB

CyberInsights AB is a Swedish Management Consulting firm specialized in Cyber Security and currently supporting many of the largest Enterprises in the Nordics. Paliscope develops a leading software suite for National Security customers supporting their need for advanced analytics.

The number of cyber attacks and organized crimes utilization of online channels is soaring. With the acquisition the companies are creating a player with a very interesting, combined offering of Cyber Security services and Intelligence analysis software. For further information about the acquisition, please see press release.

TM & Partners’ team consisted of partner Sten Hedbäck and associates Sara Jacobson and Tom Bovaller.

TM & Partners has assisted in connection with the sale of Adtoox

TM & Partners has advised the founders of Adtoox in connection with the sale of the company to global video ad management platform Peach.

Adtoox was founded in 2007 by Emil Brolin and Oskar Milton and delivers a wide range of services within the scope of ad distribution, research and online advertisement.

TM & Partners’ team consisted of Sten Hedbäck (Partner, M&A), Philip Reznik (Senior Associate, M&A), Tom Bovaller (Associate, M&A), Fredrik Gustafsson (Partner, Tech) and Lisa Ericsson (Counsel, Employment). Livingstone were financial advisers to the sellers.

TM & Partners advises in connection with the sale of Sortera to Nordic Capital

TM & Partners advises the management of Sortera Group and Ryk Group in connection with the sale of Sortera to Nordic Capital.

Sortera Group is a Nordic environmental company which, through its three business areas (Recycling, Industry and Materials), strives to be the leading environmental entrepreneur on the Nordic market, with solutions that contribute to increased sustainability and improved environmental performance in all of the company’s operations. With just over 420 employees and a turnover of ca SEK 1.4 billion, Sortera conducts its own operations from sales, collection, treatment and recycling to final recipients.

Ryk Group is owned by Sortera’s founder Conny Ryk, who co-invested in Sortera alongside Summa Equity in the inception of the investment. Ryk Group will reinvest and remain as an investor after the transaction.

In 2016, TM & Partners advised Norvestor on the sale of Sortera to Summa Equity. We were now entrusted by Sortera’s management and Ryk Group with assisting in connection with the sale of the company for a second time, now to Nordic Capital. TM & Partners’ team is led by Sten Hedbäck (Partner, M&A) and also includes Mikael Ahlberg (Associate, M&A).

TM & Partners has assisted Endúr ASA in the acquisition of Marcon-Gruppen i Sverige AB

TM & Partners has acted as Swedish legal counsel to Endúr ASA in connection with the acquisition of Marcon-Gruppen i Sverige AB for a purchase price of SEK 400 million. Marcon-Gruppen i Sverige AB is a market leader within marine infrastructure in Sweden and performs a range of services connected to marine infrastructure construction and marine services, including hydrographical services, dredging, rentals, inspections and diving. Endúr ASA is a Norwegian industrial group and a well-established supplier of products and services related to maritime services, energy and aquaculture.

TM & Partners team was led by:

• Sten Hedbäck (Partner, M&A)
• Mikael Ahlberg (Associate, M&A)
• Eva Sundling (Partner, Banking & Finance)
• Natalie Bretz (Partner, Real Estate/Construction)
• Lisa Ericsson (Counsel, Employment)
• Sofia Lind (Associate, M&A)
• Emma Borg (Associate, M&A)
• Daniel Åstrand (Associate, Dispute Resolution)
• Robin Bergqvist (Associate, Banking & Finance)
• Johan Aronsson (Associate, Real Estate)
• Karolina Kjellberg (Associate, Tech)

TM & Partners has assisted in the sale of COS Systems to Pivot

TM & Partners has assisted the sellers in the sale of COS Systems to the private equity company Pivot. The Umeå-based COS Systems, majority owned by Ekström Invest, Partnerinvest Norr and Ackra Invest, is a globally active povider of software to plan, deploy and operate broadband networks. Founded in 2011, COS Systems has today a strong and established customer base in the Swedish market for open access networks. At the same time, the company is expanding with new customers on several continents, not least in North America, where broadband coverage is in many respects due for modernization and where fiber buildout is now increasing.

For more information please see press release.

TM & Partners’ team consisted of Sten Hedbäck (Partner, M&A), Philip Reznik (Senior Associate, M&A) and Emma Borg (Associate, M&A).

TM & Partners have advised Footway on its acquisition of Caliroots

TM & Partners have advised Footway AB in connection with its acquisition of Caliroots, a strong brand within streetwear and sneakers. The acquisition is made by means of an acquisition of Caliroots’ trademarks, internet domains and inventory.

Footway was founded in 2010 and is an e-commerce company with sales of products within sports and fashion via Footway.com, Sportamore.com, Brandos.com, Solestory.se etc. Its shares are listed on Nasdqq First North Growth market. For more information on the transaction, please see Footway’s press release here.

TM & Partner’s team was led by:

• Sten Hedbäck (Partner, M&A)
• Peter Törngren(Partner, RIB)
• Anna Jerndorf (Partner, Employment)
• Fredrik Gustafsson (Partner, Tech)

TM & Partners has advised NetNordic in connection with its acquisition of Bolero

TM & Partners has advised NetNordic, an independent system integrator with majority owner Norvestor, in connection with its acquisition of Bolero. Bolero is an established Swedish provider of services related to cloud, cyber security, analytics, network and data centre and a number of areas within system development. Bolero has 80 employees and a significant number of sub-consultants servicing the company’s customer base. The headquarters is located in Stockholm, with offices in Gothenburg and Linköping. Both NetNordic and Bolero primarily work with large and medium-sized customers in both the public and private sectors. Last financial year revenues of Bolero were SEK 270 million. Management shareholders in Bolero are reinvesting in NetNordic. 

TM & Partners’ team was led by Sten Hedbäck (Partner) and Philip Reznik (Senior Associate) and included Fredrik Gustafsson (Partner), Lisa Ericsson (Counsel), Anna Elheim Sylten(Associate), John Park (Associate), Jacob Elovsson Hultin (Associate) and Andreas Sahlstedt(Associate).

TM & Partners has advised Posti Group in connection with the acquisition of Aditro Logistics

TM & Partners has advised Posti Group Oyj in connection with the acquisition of Aditro Logistics Holding AB from Valedo Partners Fund II AB.

Posti is the leading postal and logistics service company in Finland with net sales in 2018 of approx. EUR 1.6 billion and approx. 22,000 employees. The acquisition of Aditro Logistics strengthens Posti’s presence in the Nordics and the Baltic Sea region and increases its growth within logistics services.

Aditro Logistics offers a broad portfolio of logistics services such as warehousing, staffing and transportation services. The group has six warehouses in Sweden and one in Norway, with a total of approx. 230,000 m2 of storage space, approx. SEK 1.1 billion in net sales and approx. 1,100 full-time employees.

Törngren Magnell’s consisted of:

• Vaiva Eriksson (Partner, M&A)
• Sten Hedbäck (Partner, M&A)
• Mikael Ahlberg (Associate, M&A)
• Bruce McGinn (Counsel, M&A)
• Lisa Ericsson (Counsel, Employment)
• Fredrik Gustafsson (Partner, Tech)
• John Park(Associate, Tech)
• Johan Aronsson (Associate, Real Estate)
• Marcus Kern Fahlander (Associate, Banking & Finance)
• Sara Jacobson (Associate, M&A)
• Jacob Elovsson Hultin(Associate, M&A)

Törngren Magnell has assisted Apoteket in investment in Doktor24

Törngren Magnell has assisted Apoteket AB in connection with an investment in the digital healthcare provider Doktor24. Through its investment, Apoteket AB becomes a minority owner in Doktor24, which after the transaction will remain 80 per cent owned by Patricia Industries, part of Investor.

Apoteket and Doktor24 intend to develop new digital and physical healthcare services in close cooperation. The companies will establish a healthcare network in order to offer easily accessible healthcare and pharmaceutical services and advice. The ambition is to also link the local pharmacies with new technology and digital solutions. All parts of the healthcare network will be digitally connected through Doktor24’s technical platform, Platform24, creating an integrated offering of care. New digital services will be developed and added to the joint services offering.

Apoteket is Sweden’s leading pharmacy chain and one of the country’s strongest brands.

Doktor24 Healthcare AB is a digital healthcare service provider which, through integrating digital and physical healthcare services, creates sustainable healthcare with the patient at the centre. The company’s subsidiary Platform24 Healthcare AB develops technical solutions for digitally integrated healthcare to private and public healthcare providers.

Törngren Magnell’s team consisted of:

• Sten Hedbäck (Partner, M&A)
• Sofia Lindh (Associate, M&A)
• Sara Jacobson (Associate, M&A)
• Carl Östlund (Associate, M&A)
• John Park (Associate, Technology)
• Lisa Ericsson (Counsel, Employment)
• Johan Aronsson (Associate, Real Estate)

Törngren Magnell assisted in the unique financial rescue and sale of the Ving Group

Törngren Magnell has assisted the sellers in connection with the financial rescue of Ving and its affiliated companies Spies, Tjäreborg and Thomas Cook Airlines Scandinavia and the sale of the Nordic unit from the Thomas Cook Group to a consortium of buyers consisting of Strawberry Equities AS (Petter Stordalen), Altor Fund V and TDR Capital.

The deal has been complex, and in many respects unique. It has entailed a simultaneous sale of a combination of shares and businesses in six countries in the Nordics and southern Europe, where certain of the businesses have been the subject of transfer following a bankruptcy declaration of the legal units.

The deal secures a strong and long term Nordic ownership of the Ving Group with in total 2,300 employees in Ving, Spies, Tjäreborg and Thomas Cook Airlines Scandinavia, whose employment have thereby been secured and that the 400,000 people who have already booked autumn, winter and summer vacations through Ving, Spies, Tjäreborg and Globetrotter now can complete their trips. Through the financial reconstruction the new owners and other financiers will secure access to appr. SEK 6 billion in liquidity and guarantees.

Törngren Magnell’s team was led by:

• Vaiva Eriksson (Partner, M&A)
• Peter Törngren (Partner, Restructuring & Insolvency)
• Sten Hedbäck (Partner, M&A)
• Anna Bjurell (Senior Associate, M&A)
• Sofia Lindh (Associate, M&A)

Norvestor has divested Nomor to ServiceMaster

Törngren Magnell has asssisted Norvestor VI L.P. in connection with the sale of Nomor Holding AB to ServiceMaster Global Holdings, Inc. for a purchase price of appr. USD 200 million.

Nomor is the second largest pest control company in Sweden and Norway operating nationwide within three service areas; Pest control, Food safety and Home & House. Customers include among other insurance companies, property owners, municipalities and the HoReCa industry.

Törngren Magnell advised Norvestor in connection with its acquisition of Nomor in May 2014 and supported Nomor in connection with its nine strategic acquisitions in Norway and Sweden. During Norvestor’s ownership sales have increased from appr. SEK 104 million to appr. SEK 500 million.

Törngren Magnell’s team consisted of Sten Hedbäck (partner, M&A), Vaiva Eriksson(partner, M&A), Bruce McGinn (counsel, M&A), Philip Reznik (associate, M&A), Carl Östlund(associate, M&A), Emma Borg (associate, M&A), John Park (associate, M&A), Cecilia Bergman(associate, Employment), Catharina Danielsson (associate, Real Estate) and Carolin von Oelreich (associate, Banking & Finance).

nVent acquires Eldon Group

Törngren Magnell advised the owners of Eldon Holding AB on sale of the Eldon Group to nVent Electric plc, valuing Eldon at USD 130 million on a cash and debt free basis. Eldon is an innovative, customer-focused business with a high-quality portfolio of electrical enclosure solutions and annual sales of approximately USD 90 million. nVent is a global leader in electrical connection and protection solutions with main offices in London listed on NYSE. nVent employs some 9,000 people around the world. The combination of the nVent and Eldon product portfolios, including combined marketing, sales and operational capabilities, will form a strong market position which is expected to provide an excellent basis for accelerating global growth. For further information regarding the transaction please refer to Eldon Group’s global website.

Törngren Magnell acted as lead legal advisor to the sellers with assistance from global law firm CMS offices in Germany, Austria, Spain, Belgium, Netherlands, Romania, Norway and UK. Törngren Magnell’s team consisted of Peter Törngren (client responsible), Sten Hedbäck and Bruce McGinn (project leaders), Emma Borg (M&A), John Park (M&A) and Carolin von Oelreich (Banking & Finance).

Törngren Magnell assisted in the sale of Robust AB

Törngren Magnell has advised Norvestor VI L.P. in connection with the sale of Robust AB to Novoferm

Robust is a market-leading security and fire-resistant steel door manufacturer operating in Sweden, Norway and the UK. Robust specialty is high performance security doors for apartments as well as stable fire doors for homes, industry and public environments. The manufacture of steel doors takes place in the factories located in Nykroppa and Stoke-on-Trent. Robust has approximately 175 employees with a turnover of approximately SEK 310 million.

Törngren Magnell’s team was led by Sten Hedbäck and Vaiva Eriksson and included Philip Reznik and Emma Borg.

Törngren Magnell has advised Norvestor on its acquisition of Xllnc

Törngren Magnell has advised Norvestor VII L.P., a fund managed by Norvestor Equity AS, in connection with its acquisition of Xllnc Nordic AB.

Xllnc is a leading supplier of IT lifecycle management solutions for large corporations in the Nordics. The Company’s core solution is its “device-as-a-service” offering, helping organisations evaluate their IT needs, plans, procurement and finance in addition to configuring IT equipment. Additional services include monitoring and managing corporate IT assets such as PCs, tablets and mobile phones throughout their lifecycle, including support and logistics. Xllnc is headquarted in Växjö, Sweden, with appr. 200 employees and had revenues of appr. SEK 1.3 billion in 2018.

Törngren Magnell’s team was led by Sten Hedbäck (partner) and Vaiva Eriksson (partner), and also included Anna Bjurell (Senior Associate, M&A), Sofia Lindh (Associate, M&A), Mikael Ahlberg (Associate, M&A), Emma Borg (Associate, M&A), Louise Wedar (Associate, Banking & Finance), Lisa Ericsson (Senior Associate, employment), Cecilia Bergman(Associate, employment) and Catharina Danielsson (Associate, Real Estate).

Törngren Magnell has advised NetNordic in connection with its acquisition of Radpoint

Törngren Magnell has advised NetNordic, an independent system integrator, in connection with its acquisition of Radpoint, Sweden’s largest independent expert provider of solutions and managed services within cyber security and smart data center. Radpoint has 40 employees and is represented in Stockholm, Gothenburg, Jönköping and Umeå. In connection with the acquisition, all stakeholders in Radpoint invest in NetNordic.

Törngren Magnell’s team was led by Sten Hedbäck and Vaiva Eriksson and included Lisa Ericsson, Mikael Ahlberg and Sofia Lindh.

Törngren Magnell has advised Maintrac in connection with its acquisition of IKKAB

Törngren Magnell has advised Sobro’s portfolio company Maintrac, a system integrator within the urban network and operator industry, in connection with its acquisition of IKKAB, an electrical and power engineering consultancy firm operating in the business areas infrastructure, real estate and industry. IKKAB and We Consulting, acquired by Maintrac in spring 2018, will form a business group which together becomes a leading actor within telecom, real estate, industry and infrastructure. The companies have a total of approximately 280 employees distributed into nineteen cities in Sweden and Norway and a total combined turnover of approximately SEK 370 million.

Törngren Magnell’s team was led by:

• Sten Hedbäck (Partner)
• Anna Bjurell(Senior Associate)
• Lisa Ericsson (Senior Associate)
• Mikael Ahlberg (Associate)
• Catharina Danielsson (Associate)
• Sofia Lindh (Associate)

Törngren Magnell advised in the sale of Vobling to Bublar Group

Törngren Magnell has advised the founders of Vobling AB in connection with the sale of the company to Bublar Group AB, listed on NGM Nordic MTF.

Vobling AB is the leading Nordic solutions company within AR/VR for the B2B market and offers services within 3D, visualization and game engines for clients all over the world. The company has since 2015 offered services, products and contents to a large number of Swedish and international companies including SAAB, Tobii, Merck and SJ. Through the acquisition Bublar Group, together with Vobling, becomes the largest listed AR/VR company in the Nordic region.

Törngren Magnell’s team included Sten Hedbäck (Partner) and Philip Reznik (Associate).

Törngren Magnell has advised Maintrac in connection with its acquisition of WE Consulting

Törngren Magnell has advised Sobro’s portfolio company Maintrac AB, a system integrator within the urban network and operator industry, in connection with its acquisition of WE Consulting AB. With a mutual principal owner, the companies form a business group which together becomes a leading actor within the broadband market. The companies have a total of approximately 210 employees distributed into eleven cities in Sweden and Norway and a total combined turnover of approximately SEK 280 million.

Törngren Magnell’s team was led by Sten Hedbäck (Partner) assisted by Mikael Ahlberg(Associate) and Sofia Lindh (Associate).

Törngren Magnell assisted in the sale of N. Sundin Dockstavarvet and Muskövarvet to SAAB

Törngren Magnell has, together with the financial adviser Livingstone Partners, advised the sellers in connection with the sale of the combat boat manufacturer N. Sundin Dockstavarvet AB and the repair shipyard Muskövarvet AB to the defence and security company SAAB. The companies will form a new business unit within Saab’s business area Kockums with a total turnover of SEK 250 million. The acquisition strengthens Saab Kockums’ marine product portfolio and increases its capacity for service and maintenance on Muskö.

N. Sundin Dockstavarvet, based outside Örnsköldsvik in northern Sweden, is a highly specialised manufacturer of aluminium boats. The company was founded in 1905 and has for the last 30 years developed and manufactured advanced high-speed combat boats and patrol boats for both military and civil applications.

Muskövarvet, based on Muskö island in Stockholm’s southern archipelago, is a full-service shipyard that mainly serves the Swedish Navy amphibious forces and other authorities. The company was founded in 2005 and is today one of the foremost repair and maintenance shipyards on the Swedish east coast. Since 2007, the company has been a sister company to N. Sundin Dockstavarvet.

Törngren Magnell’s team consisted of Sten Hedbäck (Partner) and Mikael Ahlberg (Associate).

Törngren Magnell has advised Ripasso Energy AB in connection with capital raisings followed by an IPO on NGM Nordic MTF

Törngren Magnell has as project manager and legal advisor advised Ripasso Energy AB (publ) on capital raisings followed by an IPO. The company’s shares has obtained admission to trading on NGM Nordic MTF, which was commenced on Monday, November 28, 2016.

Ripasso Energy has developed a hybridized Stirling engine, based on an perpetual license from Kockums AB. The Stirling engine forms the basis of the solar hybrid that is the company’s first commercial product. The Stirling engine has been developed for large-scale production in cooperation with Sibbhultsverken Group AB in order to bring down unit costs to a competitive level. The major advantage of the solar hybrid is its ability to use a large fraction of renewable energy without compromising on security of supply.

“Ripasso Energy initiates a new phase in the company’s history by being listed on NGM Nordic MTF from November 28, 2016. This gives our company an important seal of quality and access to the capital markets that will help smooth the way to complete commercialization of the solar hybrid product”, says Gunnar Larsson, CEO and founder of Ripasso Energy.

Törngren Magnell’s team was lead by Johan Wigh, partner, together with Viktor Olsson, senior associate, and Anna Berg, associate, and included Sandra Broneus and Sten Hedbäck, partners, and Philip Reznik, associate.

Törngren Magnell has advised Norvestor in connection with the sale of Sortera

Törngren Magnell has advised Norvestor Equity, a leading private equity company focusing on lower mid-market buyouts in the Nordic region, in connection with its sale of Sortera Skandinavien Holding AB to Summa Equity.

Sortera is one of the leading providers of building waste management services with particular focus on the builder bag segment in the Stockholm region. In addition to collection of waste in Stockholm, Gothenburg and Oslo, Sortera also owns and operates two sorting facilities in Stockholm.

Törngren Magnell’s team was led by Sten Hedbäck and Anett Kristin Lilliehöök (partners) and included associates Björn Andersson, Anna Bjurell and Philip Reznik.

Törngren Magnell assisted in the sale of Trimma to Visma

Törngren Magnell has advised the founders of Trimma AB, a company that develops and provides tools and services within business intelligence, analysis and budgeting, in connection with the sale of the company to Visma. Based in Umeå, Trimma in 2014/2015 had a turnover of SEK 43 million and an EBITDA of 12.7 million, with 40 employees.

Törngren Magnell’s team was led by Sten Hedbäck (partner) and included Jens Haneklint (partner) and Philip Reznik (associate). Anna Jerndorf (partner) was responsible for labour law advice, assisted by Cecilia Bergman (associate).

Törngren Magnell assisted in the sale of Fresks to Litorina

Törngren Magnell assisted the owners of Fresks, a leading Swedish building material chain in Northern Sweden, in connection with its sale to Litorina, a Swedish private equity firm with approximately SEK 4.8 billion in assets under management. The Oscarson Family and the CEO, previous owners of Fresks, will retain a significant ownership together with Litorina and management.

Fresks today has revenues of SEK 875 million through its 12 stores and is the largest member of the purchasing organization Byggtrygg with the brand name XL BYGG.

The transaction was announced on 15 January 2016 and is subject to approval by competition authorities.

Törngren Magnell’s team was led by Sten Hedbäck (partner) and included Anett Kristin Lilliehöök (partner), Björn Andersson (associate), Philip Reznik (associate), Martina Klemisch (associate) and Anna Bjurell (associate).