Sweden

Reviews

Practice area

IFLR1000 Reviews

Overview

Solicitors governing body: Sveriges Advokatsamfund

Competition authority: Konkurrensverket

Financial regulator: Finansinspektionen

IFLR1000 ranking categories for this jurisdiction:

Financial and corporate (published October) – Banking and finance, Capital markets, M&A, Restructuring and insolvency

Energy and infrastructure (published June) – Energy and infrastructure

Jurisdiction overview

The most populous of the Nordic nations, Sweden has an economy of similar size to that of Denmark and one which shares many of the social welfare characteristics of its Scandinavian neighbours. It is ranked as one of the most open and developed societies in the world, and one of the very best in which to do business. 

A constitutional monarchy and parliamentary democracy, the stable government and openness of the business community make it a very attractive site for foreign investors looking for a ‘safe’ option. The economy itself is a mix of industries, with exports in engineering and technology playing an important part alongside the export of natural resources like timber and iron ore. 

Much like its Scandinavian neighbours, the legal market in Sweden is heavily dominated by domestic firms. However, unlike Norway and Denmark there is also a notable international and regional presence, with firms from the UK, US and Finland also acting on notable matters.

Lawyers are generally perceived to be of the very highest standard, comparable to the best anywhere in Europe, and many will have spent some time with major international firms in London or New York in the past.

There are very few restrictions on the practice of law. Foreign lawyers and firms simply have to comply with the requirements of domestic firms.

Jonathan Moore – Journalist EMEA

Financial and corporate
AG Advokat

AG Advokat is best known in the Swedish legal market for its strong construction and real estate work, where it offers a boutique style service. 

In the project development area, the firm has notably worked for developers on urban transformation construction projects. Other recent mandates includes work on the refurbishment and reconstruction of significant residential properties in Stockholm. 

Recent Deal Data highlights  

  • Stadsrum Fastigheter SKr619 million acquisition of Dragarbrunn 23:1

Client feedback

"Always ready to work and help out with problems during the deal. They are very good in finding solutions." – Banking

Baker McKenzie

Baker McKenzie is best known in Sweden for its strength in the equity capital markets and M&A spaces. The firm is known to have close working relationships with international and Nordic banking groups, and often works on some of the market’s leading financial transactions. 

The firm’s banking team regularly represents borrowers, acting for the likes of private equity houses such as Nordic Capital and Proventus on their acquisition financings.  

The capital market’s team is best known for its strong equity team, which regularly deals on the market’s largest IPOs, rights issues and private placements. During 2018 the firm worked on almost two-thirds of all the IPOs on Sweden’s main market, establishing it as the leading firm by deal value (working for issuers) and by deal volume (acting for the underwriters).  

In M&A the firm has been active for a mix of acquirers and sellers across sectors including electricity, healthcare and technology, especially within the private equity space. A recent highlight saw the firm act for Austrian video gaming company THQ Nordic on three consecutive acquisitions in 2018. 

A notable staffing change saw the arrival of banking partner Markus Meuller from the New York office of Freshfields. 

Recent Deal Data highlights 

  • Bygghemma Nasdaq Stockholm IPO
  • Carlyle Group/GIC €10.1 billion acquisition AkzoNobel speciality chemicals business
  • Evergreen Health $930 million acquisition of 51% stake in National Electric Vehicle Sweden
  • Hitachi $6.4 billion acquisition of ABB’s power grids business
  • Investment AB Latour SKr4 billion MTN programme
  • K2A Nasdaq Stockholm IPO
  • Nordic Capital acquisition of Trustly
  • THQ Nordic €121 million acquisition of Koch Media 

Client feedback

"Highly competent and efficient." – Banking

"Excellent quality, always available, and a good problem solver. Provides intelligent solutions." – M&A

Cederquist

Cederquist is one of the strongest Swedish domestic firms and a leader in the banking and finance space. 

The firm’s banking team is focused on core matters including acquisition finance, leveraged financing and real estate finance. In that area it represents lenders and borrowers on high-cap deals across a variety of sectors including wind, healthcare and utilities.  

In the capital markets area the firm performs strongly across both debt and equity issues. Its bond work included advising on a number of high-yield offerings for investment banks, while in the equity space, the firm has increased its market share and primarily works for issuers.  

Private equity work forms a large part of the firm’s M&A work, where it regularly represents the likes of CRM Partners, Nordic Capital and Polaris Private Equity on their cross-border acquisitions.  

Within the restructuring space the firm has been involved in significant distressed transactions and corporate recovery work during the research period, acting for a number of defaulting industrials and real estate companies. 

A key staffing change for the firm saw the arrival of banking partner Per Henriksson from DNB Bank. 

Recent Deal Data highlights 

  • Bygghemma Nasdaq Stockholm IPO
  • Com Hem / Tele2 merger
  • CVC Capital Partners €1.8 billion acquisition of Mehiläinen
  • Hemfosa SKr1.5 billion green bond issue
  • Mars Petcare acquisition of AniCura
  • Patricia Industries SKr 6.95 billion acquisition of Piab
  • Swedish Orphan Biovitrum $1.6 billion acquisition of US rights of Synagis
  • Tellacq SKr105 million acquisition of 75% stake in Nordic Biosite

Client feedback

"A commercial approach with a pragmatic angle ensuring the legal advice is directly applicable for us as a client and within our organisation. Clear advice and good integrity." – Banking

"Delivers outstanding quality advice." – Banking

"True experts and really experienced lawyers." – Banking

"Very experienced lawyers and you can always count on them to deliver." – Banking

"To the point. Able to explain the situation and what options are available." – Capital markets: Equity

"They provide clear and business minded advice." – M&A

Per Henriksson

"A top notch lawyer that always delivers constructive, valuable and cost-efficient advice."

Svante Hultqvist

"Dedicated lawyer who always is around providing solid advice and adding value for the client."

Johan Lundberg

"An excellent lawyer with great negotiation skills. He always delivers."

Fredrik Lundén

"Available when needed. Able to explain what options are available and provides a recommendation on how to move forward."

Maja Wettergren

"She is a very good lawyer, who is responsive and understands the client's needs."

Cirio

Cirio was launched in January 2019 and is a spin-off from Lindahl’s Stockholm office. 

The firm’s banking team has expertise within structured finance and project financing work. The firm has been active within the renewable energy and real estate sectors, acting for both borrowers and lenders. 

The M&A team has been busy, acting for both buyers and sellers across sectors such as oil and gas, technology and real estate. The firm has done work for international and domestic private equity clients and recently represented Axcel and Nalka Invest. 

In the project development space the firm has assisted developers on the development of wind farms and on the restoration of a large biogas plant. 

Working alongside the banking team the firm’s restructuring and insolvency team covers mandates ranging from financial work-outs and refinancing of distressed debts to bankruptcies. 

Recent Deal Data highlights

  • Asiakastieto acquisition of Proff
  • AxFlow acquisition of Generalcontrol
  • AxFlow acquisition of Induchem Group
  • Coop acquisition of Netto Marknad Sverige
  • Humlegården Fastigheter SKr1.9 billion financing
  • Sagax SKr200 million private placement
  • Swedish Orphan Biovitrum $1.5 billion acquisition of US rights of Synagis
  • Telia acquisition of Fello 

Client feedback 

"A strong practice when it comes to project finance and real estate finance." – Banking 

"Relevant industry expertise and up-to-date." – Banking 

Jesper Johansson 

"A very skilled lawyer who pays a lot of attention to the matters he is working on." 

Jörgen Möller 

"Knowledgeable of business with a great understanding of the relationship value with counter-parties." 

Pierre Pettersson 

"A solid effective lawyer.” 

Delphi

Capital markets and M&A are Delphi’s strongest areas, with its work for private equity firms being at the core of both practices. 

The firm’s banking practice has grown steadily since its launch in 2018, and has taken on a mix of acquisition financing, real estate financing and investment grade financing during the research period. 

In capital markets work the firm has primarily been active in the equity space, where it has assisted issuers on several completed and ongoing IPOs. Other notable work includes acting for issuers on rights issues and on domestic green bond issues. 

In M&A the firm regularly works on cross-border private and public M&A transactions, representing a mix of international corporate and private equity clients. It has a strong presence within the mid-market and is particularly strong in areas including energy, gaming and technology. 

A notable staffing change saw the arrival of M&A specialist Christoffer Magnelus from Setterwalls. 

Recent Deal Data highlights

  • Accenture Interactive acquisition of Kaplan
  • AddLife acquisition of Biomedica
  • Addnode acquisition of IntraPhone
  • Ardena acquisition of Syntagon Invest
  • Ferroamp Nasdaq First North IPO
  • Insight Venture Partners $1.16 billion acquisition of Episerver
  • ITRS acquisition of OP5
  • Lonely Planet acquisition of ArrivalGuides 

Client feedback 

"The firm was responsive, flexible, commercial and good value for money." – Banking 

"The team was very responsive and delivered on time." – Banking 

"Good service, very responsive, partner-led." – M&A 

"Good quality work, excellent support and client service." – M&A 

"They are very competent, fast-responding, customer-focused, and highly-skilled in the field we needed help in. They came with good advice and guidance." – M&A 

David Aversten 

"Very competent and experienced. Came with highly relevant thoughts and feedback. Very accessible." 

Anders Lindström 

"Very experienced and reliable." 

Berndt Pettersson 

"First class service" 

"Very responsive and provides extensive explanations and advice. The overall quality is very good and he was always able to meet the deadlines as requested." 

EY Law

The Swedish legal branch of professional services firm, Ernst & Young, is recognised for its strength in M&A mandates – where it has acted for buyers and sellers in sectors including energy, fintech and transport.  

The firm acts on a mix of domestic transactions as lead counsel, and international transactions as local counsel. The firm also offers transactional support services to its clients, assisting them on due diligence, structuring and various other pre-acquisition and post-acquisition matters.

Client feedback

"Great people, accessible, hard working, and knowledgeable in a broad field." – M&A

"Very fast. Very accurate. Very pleasant to work with." – M&A

Gernandt & Danielsson

The team at Gernandt & Danielsson is best known for its strong M&A practice and acts on many of the Swedish market’s largest transactions. 

In banking and finance the firm’s main flow of work is through acquisition financings, syndicated loans and refinancings, where it often takes on borrow-side mandates.  

Within the capital markets area the firm represents both issuers and underwriters on a mix of IPOs, bond and note issues, issuances of complex preference shares and other forms of capital raisings.  

The M&A team acts on high-cap acquisitions, mergers and joint ventures across a range of sectors including banking, gambling and food retail. In a stellar period the firm represented the sellers as iZettle was sold to PayPal and Nordea and DNB’s stake was sold to Luminor, in two prominent Nordic and Baltic deals.  

Working in tandem with the banking practice, the firm’s restructuring and insolvency practitioners worked on a number of mandates in the aviation, retail and wind energy sectors during the research period.  

Recent Deal Data highlights 

  • Blackstone $1 billion acquisition of 60% stake in Luminor
  • CVC Capital Partners €1.8 billion acquisition of Mehiläinen
  • Eniro SKr1 billion restructuring
  • International Petroleum Corporation $1.36 billion acquisition of BlackPearl
  • K2A Nasdaq Stockholm IPO
  • Lime Technologies Nasdaq Stockholm IPO
  • PayPal $2.2 billion acquisition of iZettle
  • Qumei NKr 5.1 billion acquisition of Ekornes
Hamilton

Hamilton is particularly recognised for its banking and M&A work. 

The banking team is active in sectors including aviation, fintech and infrastructure, working on matters including acquisition financings and refinancings. During the research period the firm often acted for investors such as Procuritas Partners and Proventus Capital Management on financing acquisitions. 

Equity capital markets is another area of strength for the firm and it has recently acted for issuers on Nasdaq First North IPOs and rights offerings. The firm is regularly involved in transactions concerning the life sciences and healthcare sectors. 

The M&A team acts for a mix of buyers and sellers in sectors such as media, telecommunications and technology. The firm is also very active in the private equity space, where it regularly works on cross-border matters for international and regional investors. 

The firm is also active in the restructuring and insolvency space and often works as receiver or administrator.  

Recent Deal Data highlights

  • AlzeCure Pharma Nasdaq First North IPO
  • Blackstone $1 billion acquisition of 60% stake in Luminor
  • Fagerhult €385 million acquisition of iGuzzini
  • Iconovo Nasdaq First North IPO
  • Monaghan Mushrooms €43 million financing
  • Naftoil bankruptcy
  • Naspers $1.16 billion acquisition of 29.1% stake in Avito
  • Serneke SKr600 million acquisition  of 50% stake in Karlastaden 

Client feedback 

"Professional, timely and with a high service level." – Capital markets: Equity 

"Excellent and reliable partners, with a pragmatic approach focused on the client's needs." – M&A 

"Excellent firm with full capabilities." – M&A 

"Has high availability and service level." – M&A 

"Professional, efficient, client focussed." – M&A 

"Competent and experienced insolvency group with a good reputation.  The group is knowledgeable, effective and pragmatic." – Restructuring and insolvency 

"Extraordinary knowledge in insolvency law." – Restructuring and insolvency 

"Has a strong insolvency team. During the last decades, they have become a very experienced team." – Restructuring and insolvency 

"Quick responses. Very helpful and accurate in their response." – Restructuring and insolvency 

"Strong insolvency department with many well-reputed insolvency practitioners." – Restructuring and insolvency 

Per Gustaf Ekbom 

"One of the most skilful and most co-operative lawyers in the industry." 

"Outstanding at asset based financing, in particular aircraft financing, and is extremely solution oriented. Always forthcoming and with a positive mind set." 

Jon Ericson 

"Client-centric and knowledgeable." 

"Tremendous. He's committed, responsive and commercial." 

Nicklas Hansen 

"High availability and a great service level." 

Michael Levin 

"Has a high level of integrity." 

Carl Magnusson 

"Good attitude and nice to work with." 

Thomas Myrdal 

"Versatile and pragmatic, very competent and client-oriented." 

Hans Renman 

"Dedicated and very academic in his work." 

Emma Berglund Uväng 

"An upcoming insolvency lawyer with a good reputation. Effective, smart and pragmatic." 

"Very strong insolvency practitioner." 

Hammarskiöld

Hammarskiöld & Co is best known across the Swedish market for its equity capital markets and M&A offering. 

The banking team works on a mix of corporate lending and acquisition finance work, and regularly works within the fintech space. The firm often also works alongside public authorities such as the Swedish Financial Supervisory Authority and the Swedish Pensions Agency on mandates. 

In the capital markets space, the firm is particularly active in the IPO area, where it often acts for underwriters. 

The firm has been active in the M&A space on some of the market’s most valuable healthcare, life sciences and pharmaceutical deals. Clear highlights include work for the acquirer Euroapotheca as it purchased Apoteksgruppen, for the Medical Prognosis Institute as it merged with Oncology Ventures, and for Scania on its financial investment in Northvolt to develop battery cell technology. 

Notable staffing changes saw the firm add corporate partners Malin Albert and Magnus Bohman to its team from Setterwalls and PwC, respectively.  

Recent Deal Data highlights  

  • Atvexa €22 million acquisition of ULNA Pre-Schools
  • Enthusiast Gaming $20 million acquisition of The Sims Resources
  • Euroapotheca SKr1.7 billion acquisition of Apoteksgruppe
  • Jetpak Top Holding Nasdaq First North IPO
  • Medical Prognosis Institute / Oncology Ventures merger
  • Poolia / Uniflex merger
  • Scania €10 million investment in Northvolt
  • Skandinaviska Enskilda Banken Nasdaq Stockholm IPO 
Hannes Snellman

Hannes Snellman is best known for its strong banking and M&A work and regularly represents private equity clients. 

In the banking area the firm often represents Nordic private equity firms on acquisition finance matters. The firm also has a strong real estate finance practice where it has provided lender side work for European banks among other clients.  

The firm often advises issuers on rights and notes issues within the capital markets space. 

The firm’s M&A team regularly completes high-cap, private M&A and public deals for acquirers and sellers, with mandates across sectors such as fintech, real estate and textiles.  

Among the firm’s staffing changes were the arrivals of M&A partners Mattias Friberg and Mikael Klang from Roschier and Kanter, respectively. 

Recent Deal Data highlights 

  • Ahlstrom-Munksjö $615 million acquisition of Expera
  • Asiakastieto Group €340 million acquisition of UC
  • Cramo SKr2.725 billion acquisition of Nordic Modular Group
  • Fabege SKr1.6 billion financing
  • Mekonomen €395 million acquisition of FTZ and Inter-Team
  • Nordic Capital and Sampo SKr6.657 billion acquisition of outstanding shares in Nordax Group
  • Summit Partners $67 million investment in Syncron
  • Vitruvian Partners acquisition of EasyPark

Client feedback

"The firm takes the time to understand your business so that they can provide customized advice that is relevant to you. The partners take an active role in advising you and have relationship meetings to ensure they are providing the best, most relevant, legal advice they can." – Banking

"Client and business oriented. Always available. Very good knowledge and expertise." – M&A

"Highly professional legal advice from a skilled, solution-oriented and dedicated team." – M&A

"Highly professional, solution-oriented, and have a team of experienced and skilled lawyers." – M&A

"Professional. Quick responses. High availability." – M&A

"Very responsive, flexible and service minded. Friendly and down-to-earth." – M&A

Mattias Friberg

"Excellent support and advice. Highly professional and solution oriented approach."

"Highly professional, highly skilled and experienced. Solution-oriented and very structured."

Claes Kjellberg

"Responsive, down-to-earth, service minded."

Mikael Klang

"Exceptionally pragmatic, business minded and solutions oriented. This while maintaining absolute legal stringency and rigour. He is extremely easy to work with for bankers - he is always available, coordinates work efficiently and takes a partnership approach to ensure client receives best possible joint advice."

"Very good knowledge and expertise regarding M&A. Client-oriented and always available."

 Sören Lindström

"Professional. Good availability."

Paula Röttorp

"She is very good at explaining the risks associated with a particular course of action."

Hellström

Hellström is best known for its banking and M&A work in Sweden. 

The firm’s banking team often assists clients on the financing of investments and the tailoring of financial products, and is active across the real estate and acquisition finance space. A recent highlight saw the firm assists a client within the pension sector. 

In the M&A space, the firm has been active for buyers and sellers in the engineering, fashion and real estate sectors.

Kanter

Kanter is recognised for its strong work within the M&A space, with other practice areas complementing its primary division. 

The banking team complements the other practices in the firm, and often assists on acquisitions and bond issuances. The firm also expanded into project finance work, and notably acted for a syndicate of banks on a wind farm deal. 

The firm’s capital markets team was launched during the research period, and acts for corporate clients on their right issues. 

The M&A team acted on several deals for private equity firm, Segulah, during the research period. In this aspect, the firm advised on a multitude of transactions, including the Gunnebo Industrier, the acquisitions of Pelly Group, Conapto and Francks Kylindustrier and portfolio companies add on acquisitions for Sandbäckens, Semantix and Zengun. 

In a key staffing change, the firm lost partner Mikael Klang to Hannes Snellman. 

Recent Deal Data highlights  

  • Alcadon €8 million acquisition of CableCom
  • Iconex acquisition of Schades / R+S Group
  • Segulah acquisition of Conapto
  • Segulah acquisition of Pelly Group
  • Stiebel Eltron acquisition of Thermia
  • Syvash 250MW wind farm
  • Zenguin acquisition of Roland Anderssons Bygg

Client feedback

"Extremely knowledgeable." – Banking

"Great and quick service. Made it easy to understand important issues regarding the agreement." – Banking

"Have great in-depth knowledge." – Banking

"Fantastic knowledge of the law, very pragmatic and provides hands-on advice." – Capital markets: Equity

"Very good work. High competence." – Capital markets: Equity

"A very responsive, competent and careful law firm." – M&A

"Always very reliable and provides solid advice. Has in-depth knowledge and good expertise." – Banking

"Engaged and with a pragmatic approach to get the deal in place. Able to scope assignment appropriately in relationship to deal size." – M&A

"Very professional advisors and skilled on acquisition issues." – M&A

Lindahl

Lindahl is active across the financial and corporate board in the Swedish market, with a clear expertise in M&A work. 

The firm’s banking team is best known for its strong asset and real estate finance offering, where it regularly takes on roles as both lenders’ and borrowers’ counsel. In particular, the firm also has a strong position within the transport sector, and has experience working on the financing of ships, locomotives and rolling stock. 

The firm has a strong presence within the equity capital markets space, where it often acts for the issuer side. During the research period, the firm has assisted clients on their listing of shares on the NasdaqOMX Mid Cap market. On the debt side, the firm often works on bond issues and structured bond work for Swedish clients.  

In the M&A area, the firm completes a high volume of transactional work and often assists a mix of buyers and sellers, and operates in sectors including energy, life sciences and technology. With a wide regional base, the firm regularly also works on Swedish-focused transactions. 

During 2018, the partners in the firm’s Stockholm office unanimously decided to terminate their partnership and leave for a number of different law firms. 

Recent Deal Data highlights  

  • Asahi Kasei acquisition of Senseair
  • Hanza SKr167.5 million acquisition of Wermech
  • ICT Group acquisition of Additude
  • Impilo $11.5 million investment in Cavidi
  • Newscycle Solutions acquisition of Informaker
  • Norrköpings Tidningars Media acquisition of Sörmlands Media
  • Storskogen acquisition of Stockholms Rörexpress
  • Tieto DKr13.2 billion acquisition of Evry 

Client feedback

"Experienced, highly service orientated and provided feedback which was very helpful to us." – Banking

"Applies the right level of skills at the right time, creating a cost and time-effective service, without compromising on quality." – M&A

"Extremely responsive and efficient." – M&A

Lindstrand

Lindstrand is active within the M&A space in the Swedish market, with a clear focus on the healthcare sector. 

A recent highlight for the firm’s M&A team saw it assist a buyer on the purchase of one of Sweden’s largest providers of personal assistance to individuals with special needs. The firm also provided advice on the acquisition financing aspects of the same deal. 

Recent Deal Data highlights  

  • Adolfsen Group SKr1.2 billion acquisition of Frösunda 
Mannheimer Swartling

A powerhouse in the Swedish market, Mannheimer Swartling is one of the leaders across the financial and corporate space and secures top tier rankings in all tables. 

The firm’s banking team has particular strengths in acquisition financing, corporate financing and refinancing mandates, acting for a mix of borrowers and lenders. The project financing practice has also grown, with the firm recently acting on transport and wind sector deals for the likes of the City of Stockholm and the European Investment Bank. 

In the capital markets area, the firm is among the market’s best firms. In particular, on the debt side, the firm often engages on Sweden’s most complex and innovative transactions. Recent highlights include working on the first EMTN programme to be governed by Swedish law and listed in Stockholm, and assisting on the issuance of the country’s largest green bond to date. 

The firm’s strong M&A and transactional private equity practice works for acquirers and sellers on a number of large deals across sectors including automotive, healthcare, and technology. 

In the restructuring and insolvency area the firm regularly worked for creditors in bankruptcy scenarios.  

Staffing changes during the research period included the departure of M&A partners Åke Kjellson and Henrik Johansson, who retired and departed to join Nordic Capital, respectively. 

Recent Deal Data highlights 

  • Hitachi $6.4 billion acquisition of 80% stake in ABB power grids division
  • Ingevity €590 million acquisition of Capa
  • Landshypotek Bank Skr5.25 billion 0.75% green bond issue
  • Mars Petcare acquisition of AniCura
  • Nordic Capital acquisition of Trustly
  • Spotify NYSE IPO
  • Stockholm Metro expansion
  • Telia SKr9.2 billion acquisition of Bonnier Broadcasting 

Client feedback

"Excellent. They are exceptionally knowledgeable, forthcoming and active in their dialogue." – Capital markets: Debt

"Always accessible and service oriented. They provide high quality legal solutions." – M&A

"Excellent all around - top negotiation and drafting, always available , excellent due diligence and always practical." – M&A

"Key strength is the quality of legal advisors involved, the full and reliable ownership, the business acumen when giving legal advise, the cooperative and hands-on mentality and the commitment and agility." – M&A

"There is always specialist expertise, fast delivery, availability and high quality." – M&A

"Very good, diligent and efficient team." – M&A

André Andersson

"Exceptionally knowledgeable and very socially skilled. Always very quick in answering questions and delivers what is promised."

Per Åsbrink

"Excellent advisor with great availability."

"He is a great legal advisor to work with. He is extremely fast, both in understanding issues as well as implementing solutions."

Hillevi Börjesson

"Very business-like and good at handling other people in a negotiation."

Eva Hägg

"Tremendous experience. Calm and trustworthy approach."

Daniel Karlsson

"Very service minded, skilled and execution-oriented."

Johan Ljungberg

"Always available and thinks about the consequences for our company. He delivers very fast, high quality advice."

Felicia Ullerstam

"Highly professional and skilled. Understands and works out of the clients interests."

Tom Wehtje

"Always on top of things with good project management, professional advise and practical solutions for all aspects of the transaction."

Andreas Zettergren

"Timely, innovative, and effective."

Maqs

Maqs is best known for its equity capital markets and M&A work in the Swedish market. 

The firm is active in the capital markets space, and notably advised a biotech company in relations to its listing on the Nasdaq First North. 

In recent times, the firm has completed a good volume of M&A work in areas including food and beverage, healthcare, manufacturing and retail. A key highlight included advising Swedish private equity firm Parmica in acquiring a majority interest in Ställning Karlskoga, a provider of scaffolding and related products. 

During 2018, the partners in the firm’s Stockholm office unanimously decided to terminate their partnership and leave for a number of different law firms. 

Recent Deal Data highlights  

  • Arise acquisition of Enviksberget
  • I-Tech Nasdaq First North IPO
  • Pamica acquisition of Ställning Karlskog
  • Plastal acquisition of ARWI High-Tech Coating Raufoss
  • Rootfruit acquisition of Exotic Snacks
  • Sova / Tempur Sealy joint venture
  • Vicore Pharma acquisition of INIM Pharma
  • Zenuity acquisition of Beyomap 
Morris Law

Morris Law is best known in Sweden for its strong banking and finance team. 

In the banking space, the firm regularly acts for banks, financial institutions and investors on the provision of financing. In recent years, the firm has increased the volume of its work and has recently been active in the fashion, financial services and shipping sectors. 

A notable staffing change saw the arrival of banking partner Björn Bjuggren and projects partner Nimrod Badur from Osborne Clarke. 

Client feedback

"Solid quality of work. What they say is what they do." – Banking

"They have a very good knowledge of the shipping industry and corporate law." – Banking

PwC Legal

The legal branch of professional services firm, PwC, is an active presence in the Swedish market on financial and corporate matters. 

The firm works on transactional support services to its client, assisting them on due diligence, structuring and various other pre-acquisition and post-acquisition matters. 

Roschier

Roschier is renowned for its multi-jurisdictional banking and M&A work in Sweden, while it also has a strong presence across the board in other transactional work. 

In the banking and finance space the firm has a strong lender-side focus, and appears for regional and international banks on cross-border transactions. During the research period, the firm worked on a mix of acquisition financings, corporate financings and refinancings, on matters concerning the real estate and technology sectors.  

The firm’s M&A team acts on several of the market’s largest transactions for a mix of acquirers and sellers. The firm associates with a number of international corporate groups, and most recently acted on the landmark acquisition of iZettle for PayPal. Private equity is another strong area for the firm, where it regularly assists Nordic firms on developing their venture capital arms through strategic investments and divestments. 

In the projects space the firm worked on a number of public procurement mandates for healthcare companies including Aleris, OneMed and Epic. Energy and infrastructure are further sectors of strength for the firm. 

In the restructuring and insolvency space the firm represented both the borrowers and lenders on various mandates including debt restructuring and distressed financing. 

A notable staffing change was the departure of M&A specialist Mattias Friberg, who became a partner with Hannes Snellman. 

Recent Deal Data highlights 

  • Ambea SKr2.6 billion acquisition of Aleris care operations
  • FAM SKr5 billion acquisition of Sandvik Process Systems
  • Patricia Industries €626 million acquisition of Piab
  • PayPal $2.2 billion acquisition of iZettle
  • Sumitomo €400 million acquisition of Q-Park Nordics
  • Telia SKr9.2 billion acquisition of Bonnier Broadcasting
  • Tieto DKr13.2 billion acquisition of Evry 
  • Wow Air €60 million 9% bond issue

Client feedback

"Provides solid advise throughout." – Banking    

"Always available and has good ideas of how to solve problematic situations." – Capital markets: Debt

"Excellent, highly committed and knowledgeable lawyers." – Capital markets: Debt     

"Flexible, swift, solution oriented, professional, and has broad knowledge." – Capital markets: Debt

"The firm stands out with its highly skilled and experienced team. They have consistently delivered with their commercial and pragmatic approach, as well as their client service-minded nature." – M&A

"Very knowledgeable, proactive and always accountable for the tasks assigned to them." – Restructuring and insolvency            

Setterwalls

Setterwalls has its strengths in the equity capital markets, M&A and restructuring and insolvency spaces. The firm operates through a regional network with a strong presence in Stockholm, Gothenburg and Malmö. 

In banking and finance the firm acts across the board on a mix of leveraged financing, private equity acquisition financings and refinancings, often representing regional banks, A particular focus has been on the real estate sector, as it undergoes economic changes in Sweden. 

Within the capital markets area the firm has put its focus predominantly on equity matters, and has acted for the issuers on a range of IPOs for life science, satellite and technology companies.  

The firm’s M&A team primarily focuses on domestic transactional work, where it regularly assists Nordic private equity houses including Priveq Investment Fund on strategic acquisitions. The firm also engages in work as the Swedish counsel on international mandates, and recently represented KKR as it acquired Unilever’s global spreads business. 

In the projects space the firm been primarily engaged by clients in relation to environmental law questions. In recent times, the firm have advised developers on issues regarding a multi-purpose energy facility and on a large rock quarry. 

In the restructuring and insolvency area the firm regularly acts for creditors on bankruptcies, often focused on the Swedish real estate sector. 

The firm has been strengthened by the recruitment of M&A partner Patric Olofsson from Maqs and projects partner Henrik Trölle from Lindahl. Another notable change saw banking specialist Anders Månsson depart after 23 years to lead his own practice. 

Recent Deal Data highlights 

  • Ascelia Pharma Nasdaq Stockholm IPO
  • Better Collective Nasdaq Stockholm IPO
  • Consolis acquisition of TMB's Finnish and Latvian operations
  • Euroapotheca €185 million financing
  • FlixBus €10.2 million acquisition of Swebus
  • KKR £6 billion acquisition of Unilever's spreads business
  • Tellacq SKr105 million acquisition of 75% stake in Nordic Biosite
  • Truecaller acquisition of Chillr 

Client feedback

"A small but very efficient team which can handle complex types of financing transactions." – Banking

"Good general knowledge and expertise in the relevant areas." – Banking

"Quality work. Timely. Understands the requirements of a high-growth startup operating globally." – Banking

"Highly competent. Easy to get in touch with and rapid to get back to us." – Capital markets: Equity

"Strengths included organisation, negotiation, and creativity." – M&A

"Good knowledge and good network with specialists." – Project development

Åke Fors

"Hard worker. Excellent competence. Solves problems."

Ola Grahn

"Always available. He has a great understanding of how a multinational high-growth startup operates."

"Highly experienced, good communications skills, pragmatic, and has broad competence."

Carl Lindencrona

"Good understanding of the underlying business. Dedicated team player and excellent technical skills."

Anders Linnerborg

"Very good, responsive and accessible."

Mikael Magnusson

"Excellent lawyer with great knowledge within the area and very good drafting skills."

"Good understanding of the underlying business. Dedicated team player and excellent technical skills."

"Solution-oriented and business-focused, entailing that he ensures that the negotiations focus on the right items. He has excellent drafting skills and is great when it comes to project management."

Marcus Nivinger

"Knowledgeable and pragmatic."

Mathias Winge

"Has the ability to turn a bad case to a good one."

Törngren Magnell

Törngren Magnell has a strong presence within the banking and capital markets space in Sweden. 

The firm’s banking team regularly works for lenders and often assists private equity houses in investments within the real estate sector. The team has a particular strength in infrastructure transactions and has considerable experience in green financing. 

In the capital markets space the firm has been active for the issuers across the board on debt and equity mandates, working on a mix of bond issuances, right issues and IPOs on the First North. 

The firm had a strong year within the M&A space and acted on its largest transaction to date when it acted for AAC Capital Partners on the successful sale of Envirotainer International to Cinven. The deal attracted more work from private equity houses. 

Recent Deal Data highlights 

  • Ambea SKr302 million acquisition of Stöd och resurs
  • Cinven acquisition of Envirotainer
  • Flexion Mobile Nasdaq First North IPO
  • Frill Nasdaq First North IPO
  • H&H Group acquisition of BB Communications
  • JonDeTech Nasdaq First North IPO
  • NetNordic acquisition of Radpoint
  • Norvestor acquisition of Xllnc 

Client feedback 

"Outstanding competence, client service and individuals." – Banking 

"Very competent, efficient and cost effective." – Banking 

"Very satisfied with the quality of the work. They have a very good business understanding, high level of responsibility and are proactive." – Banking 

"The firm has always been incredibly competent. Not only do they have very good skills in the field, they also have a very high strategic competence and knowledge of our company. This creates added value and business value." – Capital markets: Debt 

"Excellent. Extremely commercial, pragmatic, thoughtful and smart." – M&A 

"Good overall work. Good team and good cooperation." – M&A 

"They did good work. I especially appreciated the high availability when time got tight." – M&A 

"Very responsive, very hands-on and proactive." – M&A 

"Very satisfied with the services, very good attention and always there for the client. They focused on key matters and had very good business understanding." – M&A 

Tobhias Brandell 

"He is very competent in many legal areas, while being very strategic, business-oriented and humble. His interest and education in economics is also a valuable asset." 

Sandra Broneus 

"Very competent, efficient and cost effective." 

Sten Hedbäck 

"Competent and goes the extra mile." 

"Excellent - incredibly responsive and commercial. Strong commercially and excellent at thinking through innovative and creative solutions to complex issues and seemingly impenetrable obstacles." 

Philip Reznik 

"Competence is high. Attitude and availability are excellent." 

Johan Wigh 

"Outstanding know-how and cares deeply about his clients." 

Vinge

Vinge is best known for its work in the capital markets and M&A areas, where the firm generally maintains a large share of the market’s significant deals.  

The firm’s banking team works across the board on variety of transaction types - syndicated loans, project financings and financial restructurings – and is best known for its representation for borrowers. 

In equity capital markets work the firm is among the market’s best and often appears as an issuer counsel for mid-market companies’ IPOs. The firm’s debt capital markets team deals on a mix of transactions for issuers such as on large MTN programmes, variable funding note issues and hybrid bond issues. 

In M&A the firm has a stronghold in the Swedish market by conducting market-leading work. A recent standout deal saw the firm represent a large telecommunications company on the first statutory merger between two Swedish listed companies for nearly a decade. The firm also worked on buy side roles on some of the market’s larger private equity deals during the research period.  

The firm is also active in the projects area, where it often acts on wind power and renewable energy mandates for developers. 

Recent Deal Data highlights 

  • Ambea SKr2.6 billion acquisition of Aleris care operations
  • Better Collective Nasdaq Stockholm IPO
  • Com Hem / Tele 2 merger 
  • FAM SKr5 billion acquisition of Sandvik Process Systems
  • Inlook SKr50 million acquisition of Montagegruppen
  • OX2 107.4MW wind farms
  • Stendörren Nasdaq Stockholm IPO
  • Veoneer NYSE IPO

Client feedback

"Excellent knowledge within the area, providing a personal and professional execution." – Banking

"The team is just excellent. Very commercial and always available." – Banking

"Deep legal knowledge on M&A topics with significant expertise and experience." – M&A

"Excellent. Very knowledgeable, very responsive and communicative." – M&A

"Good market knowledge. Business-minded." – M&A

"Highly committed individuals with strong capabilities in every area." – M&A

"I liked the attentiveness, sense of urgency, the ability to draw fast and correct conclusions and focus on the important matters." – M&A

"Knowledgeable and efficient team with strong commercial understanding, particularly appreciated in today's M&A environment."  – M&A

"Very satisfied, especially its straight forward approach including time efficiency." – M&A

Jonas Bergström

"Extremely dedicated and highly capable lawyer. Always puts the customer first and provides valuable insights and recommendations."

"Has extensive experience and expertise. He is extremely responsive and hard working. Also displays a good grasp of the overarching process as well as deep detailed knowledge of the specific case."

"Legally knowledgeable, commercially strong and highly efficient."

Christina Kokko

"Straight forward approach and great M&A expertise."

Johan Larsson

"Very business minded and understands the our industry and needs."

Louise Brorsson Salomon

"Highly skilled within the banking area.  Responsive and on her toes to meet expectations and deadlines."

"A role-model partner. Very commercial, knows the business and understands us."

Jesper Schönbeck

"Pragmatic and service-minded."

Westermark Anjou

Westermark Anjou is best known in the Swedish legal market for its work within the equity capital markets and public M&A space. 

In the banking space, the firm notably worked on a large green loan financing for a real estate group, and on a bond restructuring during the research period. 

A notable staffing change saw the arrival of banking partner Rasmus Fahlén from Mannheimer Swartling. Through his presence, the firm set up a banking and debt capital markets offering. 

Recent Deal Data highlights  

  • Fabege SKr1.63 billion financing 

Client feedback

"Friendly, competent, clever, quick." – Capital markets: Debt

"Highly dedicated team with deep knowledge of the underlying legal issues." – Capital markets: Debt

"Pragmatic approach and always prepared for the next step." – Capital markets: Debt

"They did a great job during the project and we are very grateful for their assistance." – Capital markets: Debt

Wigge & Partners

Wigge & Partners is best known in the Swedish legal market in the private equity space, particularly in the banking and M&A areas. 

The banking team often works on financing matters related to acquisitions and has worked on financings for several private equity clients such as Altor and banks such as Danske Bank and ING. 

The firm’s M&A team has worked across sectors including financial services, healthcare, and wind energy. The M&A team has experience working for institutional investors on making anchor and cornerstone investments, and on dealing with high net worth individuals and family offices. The firm also assists management teams, institutions and founders with fund formations and capital raisings. 

Recent Deal Data highlights

  • DBT Capital SKr200 million bond issue
  • Holland & Barrett acquisition of Hälsa för alla
  • LRF Konsult acquisition of Bokoredo
  • Max Sievert and Convini acquisition of Kaffeknappen
  • MVI acquisition of 50.1% stake of Los Tacos
  • Pop House SKr230 million acquisition of Hasselbacken
  • Procuritas Capital Investors and Werksta group acquisition of Bulk Bilskadeservice
  • Procuritas Capital Investors and Werksta group acquisition of Karosserispesialisten 

Client feedback 

"Competent, accessible, proactive." – M&A