Published
03/05/2024
Morris Law has represented the Norwegian IMS Group AS in their acquisition of the Swedish company Jowa AB. The transaction was completed on April 30, 2024.
IMS Group AS, based in southern Norway, is a Norwegian conglomerate of companies focusing on leading technological solutions for the offshore and marine market. Their vision is to be the preferred provider of cost-effective solutions ensuring safe and sustainable operations. Therefore, they work every day to strengthen their position as a global provider of functional and high-tech solutions provided by their highly skilled and dedicated employees.
Today, IMS Group is a world-leading supplier of watertight doors, security windows, ballast water management systems, incinerators, ejectors, and fire-rated doors and windows, fireproof aluminum and glass structures with independent offices in Norway, Germany, Finland, Singapore, China, and the USA - and several agents worldwide representing the group. With the acquisition of Jowa, IMS now has 500 employees.
Jowa AB, based in Gothenburg, has for over 60 years provided the maritime industry with environmental protection equipment, thereby establishing a solid reputation. They specialize in water treatment and protection of the marine environment. The products are designed to contribute to the global ecology by protecting the marine environment with the latest and best technology. Today, Jowa has 110 dedicated employees. Jowa has its headquarters in Gothenburg, Sweden, with offices in the Netherlands, Greece, and Singapore, as well as factories in China and the USA. Jowa's products complement the range of one of IMS Group AS's subsidiaries, TeamTec AS.
"Jowa has a complex structure with subsidiaries in several countries, and we have valued Morris as the anchor for the legal part of the process," says Roy Langseth, CEO of IMS Group AS.
"Jowa is an excellent match to broaden IMS Group's range of marine products. The company has a strong reputation, and its products are known for their high quality. Within IMS Group, they believe this will help them grow and look forward to collaborating with the highly qualified team from Jowa," says Olof Myhrman, lawyer at Morris Law responsible for the transaction.
The team at Morris Law has consisted of Olof Myhrman, Per Nylander, and Jesper Almqvist. Morris Law collaborated with Oaklins in Oslo as transaction lead, where Nikolai Lunde, Jörgen Smith Magelie, and Philip Dessingthon were involved in the assignment.
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.
Pursuing a dispute always involves financial risk – even when the case is strong. It also places pressure on a company’s liquidity throughout the process. As a result, many companies choose to abandon even well-founded claims. Through our collaboration with Litigium Capital, we offer flexible pricing models that make it possible to pursue legal proceedings without bearing the full cost yourself. You retain control of the process – we share the risk.
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).