GARO listed on Nasdaq Stockholm
The shares in GARO AB (publ) have on 16 March 2016 been admitted to trading on Nasdaq Stockholm. The listing included an offer by the company's owners, Lars Svensson, Jerzy Petersson and Stefan Jonsson Invest AB, to the general public in Sweden and qualified institutional investors in Sweden and abroad to acquire existing shares in the company corresponding to 40 per cent of the total number of shares. In addition, the owners has granted an over-allotment option of not more than 15 percent of the offering. Lars Svensson remains the principal shareholder in GARO following the listing.
The price in the offering was SEK 73 per share, corresponding to a market value of MSEK 730 for the total number of shares in GARO.
GARO develops and manufactures innovative turnkey solutions for the electric installation market under its own brand. The business is conducted in Sweden, Norway, Finland, Ireland and Poland, and the group is organised in two business segments: GARO Sweden and GARO Other markets. GARO has evolved from a local production focused company to a development driven and market oriented company with a leading position within its selected product areas: Electrical distribution products, Project business, Temporary electric installations and EV-charging. GARO’s main customers are electrical wholesalers but the company also has strong relationships with its end customers comprising of installers, OEMs and industrial companies.
GARO and the selling shareholders were advised by Mannheimer Swartling in the offering and the listing. The firm’s team was led by Madeleine Rydberger and Lars Kongstad, mainly assisted by Aleksander Ivarsson, Gustav Engvall, Klara Holm, Jacob Rosell Svensson and Simon Bengtsson. Anders Erasmie advised on tax matters, mainly assisted by Fredrik Berndt.