Peter Törngren

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)

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)

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 has advised in connection with the merger of the Swedish timber scaling associations

Törngren Magnell has advised in connection with the incorporation of Biometria ek., by merger of the Swedish timber scaling associations.

VMF Qbera ek. för., VMF Nord ek. för., VMF Syd ek. för. and SDC ek. för. With the merger, a nationwide organisation for scaling and reporting of timber has been established with about 800 employees and an anticipated annual turnover of approximately SEK 600 million.

Törngren Magnell’s team consisted of:

• Peter Törngren (Partner)
• Bo Thorstorp (Senior Advisor)
• Mikael Ahlberg (Associate)
• Sofia Lindh (Associate)