ABGSC acted as Financial Advisor to Porter AS in the strategic partnership process leading to investments from Verdane and Canica

On Thursday 3 December 2020, it was announced that Verdane Capital (“Verdane”) and Canica have invested in Porter AS (“Porterbuddy” or “the Company”), increasing their shareholding in the fast-growing “last-mile” company (the “Transaction”). The Transaction included a combination of new equity raised to fuel continued growth for the company, as well as a sale from a selected group of existing shareholders.
Prior to the Transaction, both Verdane and Canica had invested in Porterbuddy as minority shareholders. The increased ownership that has been secured throughout the Transaction will allow Verdane and Canica to strengthen its integrated e-com model, with synergies from the existing portfolio companies. The Company’s CEO and COO will continue to hold significant ownership positions in the company.
In 2020, Porterbuddy has increased its sales six-fold compared to 2019, and the Company experienced a ten-fold increase in deliveries throughout Black Week. The equity investments will allow the Company to accelerate its growth ambitions.