In an audacious bid to expand their influence in the tech sphere, Macquarie Capital, in partnership with private equity titans Stirling Square Capital Partners and TA Associates, has made an eye-watering offer of 3.2 billion Swedish kronor ($311 million) to acquire Byggfakta, the construction-linked software, and data company.
Linklaters & Goodwin-Led Group Bids $311M For Swedish IT Biz : Legal Minds at the Helm
Guiding the consortium through this labyrinthine venture are legal juggernauts Goodwin Procter LLP and Swedish powerhouse Gernandt & Danielsson, representing Stirling Square and TA, while Linklaters LLP advises Macquarie with Vinge KB supporting the Byggfakta committee.
Unanimous Recommendation
The independent advisory committee established by Byggfakta Group Nordic Holdco AB unanimously urged shareholders to embrace the offer, propelling the Swedish company’s valuation to an impressive 10.1 billion kronor.
Linklaters & Goodwin-Led Group Bids $311M For Swedish IT Biz : Unshakeable Confidence
Henrik Lif, the spokesperson for the consortium, exuded confidence in Byggfakta’s future, asserting the investors’ commitment to positioning the company as a global leader in information services and software for the construction sector.
Shifting to Private Quarters
With private equity firms already holding a significant 67% stake, the consortium, with Macquarie as the fresh entrant, plans to privatize Byggfakta by delisting its shares from the Nasdaq Stockholm stock exchange.
Linklaters & Goodwin-Led Group Bids $311M For Swedish IT Biz : Strategic Move
Lif emphasized that while the consortium aims to nurture the Swedish business’s growth, they believe its optimal trajectory lies within the confines of a private environment.
Premium Offer
The investors put forth a lucrative offer of 46 kronor per share, representing a 31% surge from the Thursday closing price of 35.2 kronor, enticing shareholders to consider the proposition seriously.
Hurdles and Timeline
To finalize the acquisition, the consortium faces the challenge of securing at least 90% of Byggfakta shares. Regulatory and competition approvals also loom, adding a layer of complexity to this high-stakes maneuver. Shareholders have until April 5 to respond to the offer, marking a crucial timeline in this exhilarating corporate saga.
