November 6, 2012 - Assignment

Opus Group secures financing and completes acquisition of Svensk Bilprovning subsidiary

Opus Group AB (publ) has arranged approximately SEK 400 million in acquisition financing and completed the acquisition of the AB Svensk Bilprovning subsidiary, Besiktningskluster 1 AB.

The acquisition of Besiktningskluster 1 AB, which will change its name to Opus Bilprovning AB, comprises 70 inspection stations situated in Stockholm, the Mälardalen region, Värmland, Småland, Blekinge and the northern part of Sweden. The turnover of the acquired business amounted to SEK 543 million in 2011 and includes approximately 540 employees. Since July, when the acquisition was announced, Opus Group has concluded a rights issue of approximately SEK 50 million and entered into a facility agreement of SEK 175 million with Swedbank and a vendor loan agreement of approximately SEK 170 million with AB Svensk Bilprovning AB.

Opus Group has been advised by Mannheimer Swartling in connection with the acquisition and the acquisition financing. The firm’s team includes partners Johan Ljungberg and Clas Nyberg together with associates Emma Olnäs Fors, Isabel Frensborg, Tobias Normann, Emelie Thor and Robin Palmgren. Partner Eva Hägg was responsible for matters related to public M&A and equity capital markets and was primarily assisted by specialist counsel Nils Nostell and associate Håkan Knutsson. Matters in connection with the acquisition financing were handled by partner Olof Stenström primarily assisted by associates Emma Nilsson and Gustav Glimblad.