Assignments October 8, 2021

Cirio advises Vestum in the acquisition of Lakers Group Holding AB

Cirio has advised Vestum AB (publ) in the acquisition of Lakers Group Holding AB from Summa Equity and minority shareholders.

Lakers Group is a leading North European aftermarket service, project and specialist product provider of water and wastewater pumps, which serve as key components for transportation of water in the water infrastructure. Lakers Group consists of 25 cohesive companies in Norway, Sweden, Denmark, Finland, Germany and the United Kingdom. Lakers Group has over 400 employees and is headquartered in Oslo.

The initial purchase price is approximately NOK 2,044 million on a cash and debt-free basis, partly financed in cash, and partly through the issuance of a loan note, which will then be set off against 2,609,548 shares in Vestum. An additional purchase price may be payable in certain circumstances.

The acquisition is expected to be completed on 9 November 2021.

Cirio’s team consisted of partner Anders Moberg assisted by associates Jessika Lagebro and Niklas Junker.

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