Published
18/10/2024
Morris Law acted as legal advisors to the sellers of eight target companies in connection with Axcel's acquisition of fifteen target companies and the creation of a new property services group.
We at Morris Law are pleased to have acted as legal advisors for the sellers of Fukt i Väst AB, SB-Ventilation AB, Skorstensteamet i Skåne Aktiebolag, Fastighets & Saneringstjänst, FS AB, Struktursanering Sverige AB, Miljösaneringar i Stockholm AB, Norover AS, and Skorstensbolaget i Stockholm AB, in connection with the private equity firm Axcel's significant transaction, which included the acquisition of a total of fifteen target companies within property services.
The newly formed group, which has yet to be officially named, is expected to have an annual turnover of approximately SEK 800 million and will provide services such as inspection, maintenance, and damage management for properties. The typical customer includes property owners and property managers.
Axcel sees significant potential to further grow the new group through strategic acquisitions in the Nordic market, with the goal of becoming a leading player in property services.
"I am very pleased with the assistance I received throughout the entire process. As a layman in legal matters, I received timely answers to all my questions, which allowed me to stay focused on my business," said Tony Sotare, seller of SB-Ventilation AB.
The Morris Law team was primarily comprised of Carl Friberg and Jesper Almqvist.
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).