Cary Group’s SEK 9.2 Billion Initial Public Offering

Cederquist and Milbank advised the Joint Global Coordinators and the Joint Bookrunners on the deal.
White & Case LLP advised Cary Group.

The shares in Cary Group Holding AB have been admitted to trading on Nasdaq Stockholm.

The initial public offering values all shares in Cary Group at approx. SEK 9.2 billion.

Cary Group offers sustainable car care solutions, specializing in vehicle glass repair and replacement and auto body repair. Cary Group was founded as part of Ryds Glas in 1947. Since then, Cary Group has grown to become a market leader in the Nordics as a glass repair and replacement provider, offering sustainable car care solutions that prolong the life cycle of vehicles with a growing presence in Europe that includes over 520 workshops and approximately 400 mobile units in Scandinavia, UK and Spain, and brands such as Ryds Bilglas, Svenska Bussglas, Mobile Windscreens, Crashpoint, Cary and Ralarsa.

Carnegie, Danske Bank and Jefferies acted as Joint Global Coordinators and ABG, SEB and UBS acted as Joint Global Bookrunners.

Cederquist’s team consisted of Fredrik Lundén (Picture), Elin Ljungström, Sebastian Hellesnes and Jenny Tolander.

The Milbank team was led by Capital Markets partner David Dixter and included associates Matt Hall and Dimitris Stamatis and paralegal Matteo Bonacina. The team also included New York Tax partner Andrew Walker and associate Ben Heller.

The White & Case team that advised on the transaction was co-led by partners Jonas Lagerroos, Johan Thiman (both Stockholm) and Mikko Hulkko (Helsinki) and included partners Carl Hugo Parment and Henrik Wireklint (both Stockholm), Axel Schulz (Brussels) and Richard Jones (London) and associates Gustaf Wiklund, Fredrik Johansson, Izabella Barisa, Alexander Berlin-Jarhamn, Victor Åberg, Christoffer Nilmén, Monica Ericson, Louise Nässen and Felix Fjellström (all Stockholm), Thomas Killeen, Benjamin Tuiskula and Tommi Kolehmainen (all Helsinki) and James Richards and Josephine Levick (both London).

 

 

Involved fees earner: Sebastian Hellesnes – Cederquist KB; Elin Ljungström – Cederquist KB; Fredrik Lundén – Cederquist KB; Jenny Tolander – Cederquist KB; David Dixter – Milbank LLP; Benjamin Heller – Milbank LLP; Dimitris Stamatis – Milbank LLP; Andrew Walker – Milbank LLP; Victor Aberg – White & Case; Izabella Barisa – White & Case; Alexander Berlin-Jarhamn – White & Case; Monica Ericson – White & Case; Felix Fjellström – White & Case; Mikko Hulkko – White & Case; Fredrik Johansson – White & Case; Richard Jones – White & Case; Thomas Killeen – White & Case; Jonas Lagerroos – White & Case; Josephine Levick – White & Case; Louise Nässen – White & Case; Christoffer Nilmén – White & Case; Carl Hugo Parment – White & Case; James Richards – White & Case; Axel Schulz – White & Case; Johan Thiman – White & Case; Gustaf Wiklund – White & Case; Henrik Wireklint – White & Case;

Law Firms: Cederquist KB; Milbank LLP; White & Case;

Clients: ABG Capital; Carnegie; Cary Group; Danske Bank; Jefferies; SEB; UBS;

Author: Federica Tiefenthaler