On Wednesday 1 March 2023, Re-Match announced its intention to delist following a funding plan comprising a number of capital raises primarily led by specialist growth investment firm, Verdane, as well as in part by Nordic and DACH-based growth equity fund, Nordic Alpha Partners (NAP). The transaction ensures gross proceeds of DKK 50m during March 2023, and an additional DKK 25m from Verdane conditional on completion of a voluntary tender offer set forth by Verdane. The current shareholders have been offered to continue as shareholders in the new ownership structure or sell their shares at DKK 7 per share, reflecting a premium of 9.9% compared to the latest closing price.
Furthermore, during the next year, Verdane and NAP will provide additional capital of up to DKK 160m, implying a total investment of up to DKK 235m in Re-Match. This is the fourth consecutive transaction where ABG Sundal Collier has advised Re-Match.
Founded in 2013 and headquartered in Herning, Denmark, Re-Match is a pioneer within sustainable recycling of artificial turf. Based on a patented recycling process, Re-Match offers an innovative solution to recycling artificial turf, addressing an increasing need for such services as the use of artificial turf is becoming increasingly widespread on a global basis. Fuelled by the capital injections, Re-Match strives to see its Netherlands-based factory serve as a blueprint for global expansion, with the current short-term ambitions revolving around establishing factories in the US.
