Morris Law has acted legal advisors to Hjo Installation AB and the owners of Hjo Installation AB when Nordic Capital Evolution Fund has participated in a directed new issuance of shares and purchased shares in Hjo Installation. After completed investment, Nordic Capital will own approx. 40% of the shares.
Hjo Installation AB was founded in 2019 and is a well-reputed nationwide group within the installation industry. The group includes approx. 60 companies and over 1,100 employees. The head office is based in Hjo, Sweden, while the installation companies within the group are in Helsingborg in the south of Sweden and all the way to Kiruna in the north of Sweden. The companies within the group specialize in energy optimization, electricity, heating, sanitation, and ventilation. Now the group will grow further.
Hjo Installation will have a strong development and in 2023 the turnover is estimated at approx. SEK 2.3 billion.
Christoffer Olbrich, who is CEO at Hjo Installation AB, says: “We chose to work with Morris Law as we have felt in previous collaborations that they are proactive and always set our best interest in focus. We were not wrong in our feeling. Project management and commercial focus have been outstanding. There is a complexity in representing approx. 280 shareholders and at the same time conducting a full-scope VDD of approx. 60 operating companies and then carrying out a professional negotiation of complex contracts. We have experienced the benefits of the big firm’s efficiency and professionalism while receiving a warm welcome and personal service. Morris Law has really made sure that we are satisfied with the outcome of the transaction.”
Nordic Capital Evolution is a well-reputed international private equity player with approx. EUR 1,2 billion in acquired capital. The fund focuses primarily on investments in several selected sectors, i.e., “Healthcare, Technology & Payments, Financial Services and Industrial Goods & Services”.
The transaction is subject to customary regulatory approvals.
You can read more about this transaction in one of Sweden’s leading financial newspapers Dagens industri.
Morris Law’s team has mainly consisted of Racine Ashjari, Johanna Elvander Juhlin, Emelie Sparredal, Gustav Thorslund, Hugo Ohlsson (Project Management, M&A and Corporate Law), Emma Teodorsson (Administration), Mattias Berger-Loodh (Commercial and Financial Law), Ana Ferreira Rodrigues (Employment Law and Pensions), Christoffer Erlandsson (Public Procurement Law), Kevin St. Hill (Real Estate Law and Tenancy Law), Linda Dahlström (Competition Law) and Gabriella Katz and Henrik Almström (Intellectual Property Law, Regulatory Law incl. GDPR).
