Transactions

Lenner & Partners has extensive expertise advising corporates and institutions (Swedish or international) on acquisitions, divestments, public take-overs, fairness and valuation opinions. Details on a selection of recent assignments are listed below.

Selected transactions

All transactions

EQT's public offer for OEM International

Adviser to OEM International

SEK 15.3bn

Pending

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The sale of Carnegie to DNB

Adviser to Altor and Carnegie

SEK 12bn

Pending

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TF Bank’s sale of a majority stake in Rediem Capital to Alektum Holding and Erik Selin

Adviser to TF Bank and Alektum Holding

SEK 472m

Pending

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The sale of Ortopediskt Centrum i Stockholm to Broviken Gruppen

Adviser to Ortopediskt Centrum i Stockholm

Not disclosed

2024

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The sale of Qliro's private loan portfolio to Morrow Bank

Adviser to Qliro

SEK 714m

2024

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CVC and Waldakt's public offer for Resurs Bank

Fairness Opinion

SEK 4.7bn

2024

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Indecap’s acquisition of PriorNilsson, SEK 13bn in AUM

Adviser to Indecap

Not disclosed

2024

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MEKO'S ACQUISITION OF ELIT POLSKA

Independent assessment of the transaction's valuation

Not disclosed

2024

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Rite Ventures' mandatory public offer to the shareholders of Nelly

Adviser to Rite Ventures

SEK 510m

2024

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THE MERGER OF TJUSTBYGDENS SPARBANK AND ÅTVIDABERGS SPARBANK

Financial adviser

Not disclosed

Pending

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The merger of Infrateq and Binero (publ)

Adviser to Infrateq

SEK 314m

2024

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The merger of Besqab and Aros Bostad through the public offer from Aros Bostad

Adviser to Besqab

SEK 1.9bn

2024

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The sale of Lannebo Fonder to Öhman

Adviser to Lannebo

Not disclosed

2023

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Carnegie's acquisition of Erik Penser's Wealth Management & Corporate Finance businesses

Adviser to Carnegie Investment Bank

Not disclosed

2023

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The merger of Bergslagens Sparbank and Södra Dalarnas Sparbank

Financial adviser

Not disclosed

2023

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Insight Partners' public offer for SignUp Software

Fairness Opinion

SEK 2.4bn

2023

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DeMina Skolintressenter's public offer for Atvexa

Adviser to Atvexa

SEK 1.1bn

2022

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The investment in Northvolt's USD 1.1 billion convertible note

Adviser to Folksam

USD 1.1bn

2022

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Acquisition of shares in SOS International

Adviser to Folksam, Länsförsäkringar, Alm. Brand, and Fremtind

Not disclosed

2022

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SAF-HOLLAND's public offer for Haldex

Fairness Opinion

SEK 3.2bn

2022

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CARNEGIE INVESTMENT BANK’S ACQUISITION OF CARNEGIE FONDER, HOLBERG & CAAM FUND SERVICES

Adviser to Carnegie Investment Bank

Not disclosed

2022

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Wasa Kredit's sale of a non-performing loans portfolio to Lowell

Adviser to Wasa Kredit

Not disclosed

2022

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Basalt's public offer for Nobina

Fairness Opinion

SEK 9.3bn

2021

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The redemption of pref. shares in exchange for B-shares in Volvo Cars and additional investment

Adviser to AMF and Folksam

SEK 8.6bn

2021

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The sale of Abios to Kambi

Adviser to Abios

SEK 270m

2021

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Castellum's public offer to acquire all shares in Kungsleden

Adviser to Castellum

SEK 26.9bn

2021

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TIAA's public offer for 24Storage

Fairness Opinion

SEK 925m

2021

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Carneo's acquisition of Holberg, NOK 25bn in AuM

Adviser to Carneo

Not disclosed

2021

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The sale of FOREX Bank's banking portfolios of SEK 12bn to ICA Banken

Adviser to FOREX Bank

Not disclosed

2021

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The sale of Bluestep Bank's personal loan portfolio to Svea Ekonomi

Adviser to Bluestep Bank

Not disclosed

2020

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The investment in Volvo Cars' preference shares by AMF, Folksam

Adviser to AMF and Folksam

SEK 5.0bn

2019

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Carneo's acquisition of Alfred Berg's Swedish funds and mandates

Adviser to Carneo

Not disclosed

2019

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The investment in Northvolt's USD 1 billion equity capital raise

Adviser to AMF and Folksam

USD 1.0bn

2019

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Mekonomen's acquisition of FTZ and Inter-Team

Adviser to Mekonomen

EUR 395m

2018

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The sale of Banque Carnegie Luxembourg to Union Bancaire Privée

Adviser to Carnegie Investment Bank

Not disclosed

2018

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The sale of UC to Asiakastieto

Adviser to SEB, Nordea, Handelsbanken, Swedbank, Länsförsäkringar Bank and Danske Bank

SEK 3.5bn

2018

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The sale of Bring Citymail to Allegra Capital

Adviser to Posten Norge

Not disclosed

2018

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Axfood's Public Offer to Matse Holding

Adviser to Matse Holding

SEK 554m

2017

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Öhmangruppen and Nordic Capital's Public Offer for Nordnet

Adviser to Nordnet

SEK 6.7bn

2017

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The Sale of Hemnet to General Atlantic and Merro

Adviser to Swedbank

SEK 2.0bn

2017

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The investment in Volvo Cars' preference shares by Folksam, AMF, AP1

Adviser to Folksam

SEK 5.0bn

2016

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Joint termination of the Investment Agreement of East Capital

Adviser to East Capital Explorer

Not disclosed

2016

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The sale of Fågelviksgruppen to H.I.G Capital

Adviser to Fågelviksgruppen

Not disclosed

2015

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The acquisition of Fortum Distribution AB by AP1, AP3, Folksam and Borealis

Adviser to Folksam

SEK 60.6bn

2015

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Infinera's Public Offer for Transmode

Fairness Opinion

SEK 3.0bn

2015

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The sale of Max Matthiessen to Willis Group Holdings plc

Adviser to Altor

SEK 1.4bn

2014

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Volkswagen's Public Offer for Scania

Adviser to Volkswagen

SEK 59.8bn

2014

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Swedbank’s acquisition of Sparb. Öresund & creation of Sparb. Skåne

Adviser to Swedbank

SEK 3.0bn

2014

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Placing of 12.2 and 8.7 million shares

Adviser to the sellers

SEK 1.1bn

2013 & 2010

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The merger of Färs & Frosta Sparbank and Sparbanken 1826

Adviser to the banks

Not disclosed

2013

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Skandia Liv's acquisition of Skandia AB from Old Mutual

Adviser to Skandia Liv

SEK 22.5bn

2012

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Länsförsäkringar AB's acquisition of Länförsäkringar Fondliv

Adviser to Länsförsäkringar

SEK 5.4bn

2011

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HQ has sold HQ Bank and HQ Fonder to Carnegie

Adviser to HQ

Not disclosed

2010

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Public Offer for AcadeMedia AB from EQT

Adviser to AcadeMedia

SEK 2.5bn

2010

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Swedbank's two rights issues

Adviser to Swedbank

SEK 15.1bn & SEK 12.4bn

2009 & 2008

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Altor & Bure's acquisition of Carnegie from the National Debt Office

Adviser to Altor and Bure Equity

SEK 1.8bn

2009

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Altor & Bure's acquisition of Max Matthiessen from the National Debt Office

Adviser to Altor and Bure Equity

SEK 500m

2009

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AcadeMedia's acquisition of Anew Learning AB from Bure Equity

Adviser to AcadeMedia

SEK 900m

2008

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Cloetta Fazer demerger including the public offer by Oy Karl Fazer Ab

Adviser to Malfors Promotor (largest owner)

SEK 5.8bn

2008

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AP Fastigheter's acquisition of Vasakronan from the Kingdom of Sweden

Adviser to AP Fastigheter

SEK 41.1bn

2008

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The merger of OMX and Nasdaq to form Nasdaq OMX Group

Adviser to AP OMX

SEK 31.8bn

2008

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Fortune Brand's repurchase of 10% stake in Beam Global Spirits & Wine

Adviser to Fortune Brands 2008

SEK 2.8bn

2008

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The sale of People travel group to Veolia Transport

Adviser to the sellers

SEK 400m

2007

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Swedbank's acquisition of Folksam's asset management operations

Adviser to Swedbank

Not disclosed

2007

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The sale of the fine art auction house Bukowskis to the Lundin family

Adviser to Bukowskis

SEK 305m

2007

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The sale of CEKAB to EDB

Adviser to the sellers

SEK 255m

2007

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Fairness opinion to the Board of Directors

Adviser to Semcon

Not disclosed

2006

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Old Mutual's acquisition of Skandia

Adviser to Old Mutual

SEK 53bn

2006

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OMX's acquisition of Iceland Stock Exchange (ICEX)

Adviser to OMX

ISK 3.0bn

2006

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The merger of Hagströmer & Qviberg and HQ Fonder

Adviser to HQ Fonder

Not disclosed

2005

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OMX's acquisition of Copenhagen Stock Exchange

Adviser to OMX

DKK 1.2bn

2005

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Valuation of Skandia Liv's asset management contract

Adviser to Skandia Liv

Not disclosed

2004

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Nordic Capital & Accent Equity's acquisition of KappAhl

Adviser to Management

SEK 1.95bn

2004

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The sale of FöreningsSparbanken’s Danish subsidiary FIH to Kaupthing

Adviser to FöreningsSparbanken

SEK 11.9bn

2003

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The sale of Sparta's equity stake in Finnveden

Adviser to Sparta

Not disclosed

2003

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The merger of OM and HEX

Adviser to OM

EUR 213m

2003

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The sale of Bäckhammars Bruk to Procuritas

Adviser to the sellers

Not disclosed

2003

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Atria Oyj's acquisition of Samfoods operations

Adviser to Atria Oyj

Not disclosed

2002

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The failed merger of Swedbank and SEB

Adviser to Swedbank

Not disclosed

2002

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The sale of Länsförsäkringar’s asset management operations

Adviser to Länsförsäkringar

Not disclosed

2002

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The restructuring of Boliden - new issue & guarantee consortium

Adviser to Boliden

Not disclosed

2001

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OM Group's failed Public Offer for the London Stock Exchange

Adviser to OM

Not disclosed

2000

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Sweden

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