Equip Capital AS entered into an agreement to acquire Portfolio consists of 20 operating companies in Sweden, Norway, Finland, Denmark and Germany from Vestum AB (OM:VESTUM) for approximately SEK 330 million.

Equip Capital AS entered into an agreement to acquire Portfolio consists of 20 operating companies in Sweden, Norway, Finland, Denmark and Germany from Vestum AB (publ) (OM:VESTUM) for approximately SEK 330 million on April 3, 2023. The purchase price amounts to SEK 326.5 million on a cash and debt-free basis and will be paid in cash. In connection with the closing of the transaction, Vestum intends to fully redeem the secured bond of NOK 950 million issued by Vestum's group company Lakers Group AB (publ).

During the financial year 2022, the Company Portfolio, with certain associated group functions, generated accumulated sales of SEK 838 million and an accumulated EBITA of SEK 27 million, corresponding to an accumulated EBITA margin of 3.2 percent. Carl-Johan Callenholm, who was previously part of Vestum's management team, will leave his role at Vestum in connection with the divestment of the Company Portfolio and instead accompany the new buyer of the businesses. The intention is to settle the bond with funds from the purchase price and bank debt from Vestum's existing banks.

Closing of the transaction is expected to take place in the second quarter of 2023 and the transaction is subject to customary closing conditions, including merger control clearance in Norway. As of June 26, 2023, Vestum has today received necessary governmental clearances in relevant jurisdictions. The strategic divestment can thus be completed.

The closing is expected to take place on July 6, 2023. Svalner provides financial advice and Cirio Advokatbyrå as well as Advokatfirmaet Thommessen act as legal advisers to Vestum in connection with the divestment.