Lindahl has made a huge effort in the last 12 months and it is by no means a firm to be overlooked. Indeed, market opinion suggests it is on the way up....
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Lindahl has made a huge effort in the last 12 months and it is by no means a firm to be overlooked. Indeed, market opinion suggests it is on the way up.
Clients also like the firm. One client who often instructs the tier one firms interviewed eight of the top players for a public listing deal and finally went with Lindahl. "The combination of price and expertise," says the client, "they have a life sciences practice and show real interest in the work".
Former Mannheimer Swartling lawyer Annika Andersson was recruited in 2010 and took the department's reins shortly before the hire of Linkaters partner Peter Högström in May 2010. As an indication of the level at which Lindahl punches, Högström was a managing partner at Linklaters between 2007-09 and head of its M&A team.
Andersson is "extremely technically strong, pro-active and thinks ahead," says a client.
In 2010-11 the firm also hired three associates along with senior counsel Johan Hammarberg from a Swedish investment bank and senior associate Anders Moberg from US firm Milbank Tweed. All in all the hires give a boost to its cross border profile.
Along with the hires the firm won over new clients Health Partner and pharmaceutical company Moberg Derma and bagged some big mandates.
In one mandate which also drew on the firm's strong life sciences expertise Andersson was instructed by Moberg Derma to advise on its contemplated listing on the Nasdaq OMX Stockholm. The work included due diligence and putting together the prospectus and was made public, before being withdrawn in December 2010 due to the unpredictable market conditions.
In early 2010 Andersson has also led the firm to act for listed real estate company Sagax on a €27 million rights issue of preference shares, which was combined with an €11 million shoe in option.
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According to its own competitors Lindahl is pushing the boundary of tier three and may well be on the ascendency. It is certainly one of the strongest when it comes to acquisition financing in real estate and insolvency related work....
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According to its own competitors Lindahl is pushing the boundary of tier three and may well be on the ascendency. It is certainly one of the strongest when it comes to acquisition financing in real estate and insolvency related work.
The firm has been putting its fingers in more pies recently, including private equity financing and project financing, and in 2010 alone it closed four wind park financings with a total value of €170 million. The firm also won a mandate from a group of banks to advise on a €261 million financing to wind energy producer O2 Vind, although the deal was finally pulled.
In August 2010 the firm closed one of the largest wind parks financings of 2010, with Jesper Johansson acting for Commerzbank €64 million facilities agreement to build and operate Ytterberg wind farm.
Property deals remained the firm's big highlights however, with Johansson advising the borrowers (with borrowers and lenders being confidential) on the largest real estate M&A in 2010 in Europe, valued at €598 million and spanning a number of northern European countries. Johansson also advised Deutsche Pfandbriefbank and Aareal Bank as mandated lead arrangers and original lenders in relation to a €196 million capex and term facilities agreement for the acquisition of commercial property, marking one of 2010's biggest real estate portfolio work-outs.
Partner Peter Bäverlid is a key player at the firm especially on project financing related to the off-shore and shipping industries. Lars-Henrik Andersson heads the department.
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Lindahl was tipped last year as a firm with potential and deep resources and it is undoubtedly on the way up. The biggest trick up its sleeve is its expertise in life sciences and IP, which it gained through a merger with leading IP firm RydinCarlsten in 2009 and which is especially attractive to specific industry sectors for example pharmaceutical companies....
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Lindahl was tipped last year as a firm with potential and deep resources and it is undoubtedly on the way up. The biggest trick up its sleeve is its expertise in life sciences and IP, which it gained through a merger with leading IP firm RydinCarlsten in 2009 and which is especially attractive to specific industry sectors for example pharmaceutical companies.
On pharmaceutical client that shifted its business from one of the top firms says Lindahl was "excellent, responsive, attentive, detail oriented but not pedantic and knowledgeable on local practices". Clients were also enthusiastic about partner Malcolm Wiberg.
For 2010 the firm performed well in Mergermarket tables in deal volume (coming third in Sweden) and in 2011 it cashed in on the trend of a lifting market. The firm was elected as an advisor to the government and in May 2010 it recruited partner Peter Högström from Linklaters to manage the department. The recruitment in January 2010 of Annika Andersson, a public M&A lawyer, from Mannheimer Swartling also underscores the firm's intentions.
In its deals the firm displays range and versatility. In one deal, which with its mix of M&A, shipping and capital markets expertise shows off the firm's full service capabilities, Erik Linnarsson, Andersson and Peter Bäverlid advised Rederi Transatlantic on a €71 million acquisition from Viking Supply Ships to take-over the ice-breaking joint-venture Trans Viking. The deal was completed in October 2010.
Partner Malcolm Wiberg was also engaged on a mixed deal, which involved advising OBH Nordica Sweden on a pre-restructuring and €101 million sale to Triton. The firm sparred with opposing counsel Linklaters on the deal which closed July 2010.
Another exemplary deal closed in May 2010 saw Peter Lilja lead a team to advise Nordic wine and spirits company Altia Corporation on its €82 million acquisition of Pernod Ricard's wine and spirits operation along with an agreement for long term collaboration between the two companies. Indicating again the level service Lindahl was head to head with Gernandt & Danielsson.
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