Published
20/12/2023
eEquity, a Nordic growth investor partnering with digitally enabled businesses, has completed an investment in Macade Sportswear – a Swedish-founded, direct-to-consumer golf apparel brand. Founded in 2019, Macade has seen a quick rise to fame, not least in the North American market, with a novel product assortment attracting casual and professional golfers alike. The partnership between eEquity and the entrepreneurs will enable Macade to execute key strategic initiatives and investments, accelerating its journey towards becoming a leading global brand within golf apparel and accessories.
Founded in 2019 by serial entrepreneur Erik Valentin Villadiego, Macade has rapidly made its mark on the golf market while approaching SEK 100 million in turnover. By harnessing the demands of the newer generations of golfers, Macade has made a name for themselves by offering products combining modern athleticwear with traditional golf apparel, experimenting with novel styles, materials and patterns. With an online-first, direct-to-consumer strategy, the company has successfully penetrated several key golf markets globally, with the US constituting the single largest market and roughly half of Macade’s revenue. In the past few years, Macade’s products have been worn, via exclusive partnerships, by numerous professional golfers across the PGA, LPGA and European tours, including Sweden’s own Alex Norén. With its newly raised growth capital, Macade will take several key steps towards accelerating their global growth journey, including key recruitments in the organization, IT investments, broadening the product assortment, expanding into new sales channels and scaling up marketing as well as branding activities. The founder will remain as a controlling shareholder, while CEO Stefan Kedling continues to lead the company into its next growth phase.
Morris Law assisted the company and the founder in connection with the investment. Morris Law’s team consisted of Carl Friberg and Therese Andersson.
Morris Law has acted as legal advisor to Åhléns Group in connection with the company’s successful issuance of senior secured bonds in the amount of SEK 500 million, under a framework of up to SEK 1 billion. The bonds have a tenure of three and a half years and carry interest at STIBOR 3 months plus 5 percent per annum.
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Morris Law has entered into a collaboration agreement with legal financing company Litigium Capital for the financing of disputes. The agreement, likely the first of its kind in the Nordic region, means that Litigium Capital will invest in a portfolio of disputes managed by Morris Law on full or partial contingency (under a success-based fee model).