On Monday 19 June 2023, it was announced that Nordic Capital has signed an agreement to acquire a majority share in Foxway, a leading European provider of circular IT services.
Foxway is a fast-growing European company, based in Sweden, with offices in Europe, and presence in Asia and the US. The Company has, since it was founded in 2009, focused on improving sustainability of IT devices (PCs, laptops, mobiles, servers, etc.) by increasing circularity across the value chain. Foxway provides its services in more than 100 countries and sources, finances and refurbishes more than 1.5 million devices annually in a circular flow.
Nordic Capital will in a joint partnership with Foxway’s management and alongside Norvestor, support continued growth, international expansion, and the Company’s focus on making lasting positive impacts.
ABG Sundal Collier acted as exclusive financial advisor to Nordic Capital, and as the Sole Global Coordinator and Joint Bookrunner in the EUR 200 million senior secured bond issue to partly finance the transaction.
The terms of the transaction are undisclosed, and closing is subject to customary regulatory.
