Lakers Group: Successful placement of inaugural sustainability-linked bond

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Lakers Group AB (publ) (“Lakers Group”, the “Company”), a leading and independent aftermarket service provider of water and wastewater pumps, has successfully completed a senior secured sustainability-linked bond issue of NOK 750 million with maturity in 2025 (the “Bond Issue”).

The transaction marks majority-owner Summa Equity’s entry to the Nordic bond market and is the first sustainability-linked bond issued by a private equity-backed company. The net proceeds from the Bond Issue will be employed towards repaying existing debt and preference shares, a shareholder distribution and general corporate purposes including acquisitions. The Bond Issue will have a borrowing limit of NOK 2bn to support M&A, incurrence-based covenants and a margin of 5.5%. The transaction received strong demand from tier 1 institutional credit investors across the Nordic region, Continental-Europe and the UK, and was multiple times oversubscribed.

The successful completion of Lakers’ sustainability-linked bond is an important milestone for both Lakers and Summa Equity, confirming the strong investor interest in sustainable investing. With the new financing in place, we look forward to entering the next phase of Lakers’ growth journey with continued expansion across Northern Europe, says Johannes Lien, Principal at Summa Equity and board member of Lakers.

We are pleased to see the positive response from the investors, recognizing Laker’s contribution to ensure available and sustainable management of water and wastewater, as well as showing confidence in our business model and growth strategy. The new financial structure will allow us to accelerate our expansion outside the Nordic region, and we are looking forward to take the next step in our development, says Carl-Johan Callenholm, CEO of Lakers.

Arctic Securities acted as global coordinator, sustainability structuring advisor and joint lead manager, Pareto Securities and Swedbank acted as joint lead managers in connection with the placement of the Bond Issue.

For further information, please contact:

Johannes Lien
Principal, Summa Equity and Board member, Lakers Group
+46 722 06 69 00

Hannah Gunvor Jacobsen
Head of IR, Summa Equity
+47 93 64 19 60

Carl-Johan Callenholm
CEO Lakers Group
+47 90 09 78 06

About Lakers
Founded in 2016 and headquartered in Oslo, Lakers is a leading and independent aftermarket service provider of water and wastewater pumps in Northern Europe. It offers maintenance, service, development and technical consultancy for pumps, pumping stations, electrical motors and related components. The company has more than 350 skilled and experienced FTEs and operations through 22 entities in Norway, Sweden, Denmark, Finland, UK and Germany.

About Summa Equity
Summa Equity is a thematic investment firm defined by a purpose-driven team that has come together to invest in companies that address some of our global challenges. 

Summa Equity focuses on companies in industries supported by megatrends within three themes: Resource Efficiency, Changing Demographics and Tech-Enabled Business. The firm’s investments across the three themes have the potential for long-term sustainable outperformance because they address some of the social, environmental, and business challenges we need to solve as a society.

Summa Equity have more than SEK 14 billion of assets under management. For further information on Summa Equity, please visit