ABG Sundal Collier acted as Sole Bookrunner in connection with the SEK 400 million senior secured bond issue to partly finance the acquisition of Euroflorist

In December 2021, an investor consortium jointly acquired 100% of the shares in Euroflorist Holding AB (“Euroflorist”), a leading European e-commerce company for flower delivery. The investor consortium consists of well-known private individuals with significant tech and entrepreneurial experience. One of the main investors Magnus Silfverberg, former CEO of Bisnode and Betsson, has stepped in as new CEO of the company and will be supported by a strong board and co-investors including Johan Tjärnberg, CEO of Trustly, Richard Båge, Jakob Tolleryd. In addition the consortium is backed by investors such as Tagehus, NEA Partners and Inbox Capital.
The main investors are aiming to take a highly active role to continue developing Euroflorist into its next phase of development, capitalising on the consortium’s broad and collective experience from e-commerce, industry, and retail. The new owners will develop Euroflorist to a pure tech enabled e-commerce organisation and leverage on a highly attractive product portfolio and customer base to drive sales and increase margins.
The acquisition of Euroflorist was partly financed by a four-year senior secured bond of SEK 400 million, under a framework of SEK 750 million. The bond issue attracted strong demand from high quality institutional investors in the Nordics and Europe. The order book was significantly oversubscribed allowing for the bond to price at 3m STIBOR + 5.5%.