IFLR 1000
The Guide to the World's Leading Financial Law Firms

Cederquist's banking practice is "at the very top of the scale" according to a prominent banking client. One peer agreed the firm was well placed in tier one adding: "they are at the high end of this tier." Svante Hultqvist is head of the banking department and is singled out by one client as having a "thorough knowledge [in banking] and a pragmatic approach".

The firm have an impressive portfolio of big name clients, many of them leading international banks. One client says: "Im pleased with Cederquists' ability regarding both legal skills and commercial approach. The partner and associates always have time." Another client adds: "We are extremely happy with the service they provide us with, both because of their technical skills and excellent knowledge of the legal environment in Sweden, but also because of their availability and smart answers to our questions."

Deals
The firm has been heavily involved in acquisition financing. In a standout deal Svante Hultqvist led a team advising Nordea (as lender) on the €1.8 billion acquisition financing of the Ahlsell Group in February 2012. In addition, Hultqvist advised Deutsche Bank on the multi billion Euro acquisition financing of Polkomtel Group.

Meanwhile, Johan Lundberg assisted a consortium of banks on the complex refinancing of the medical technology Gambro Group, which closed in December 2011. Other refinancing work includes advice to Kinnevik valued at SKr5.3 billion (€634 million) in January 2012.

On the company side, Mattias Larsson led a team assisting Swedish confectionary manufacturer Cloetta in the financing of its acquisition of Leaf Holland, which was part financed through a SKr4.2 billion credit facility provided by Svenska Handelsbanken.

While the firm did have to cope with the loss of debt specialist Claude Unge this year, who left to join Nord & Co, the firm has nevertheless maintained its position in the market. Leading lawyer Wilhelm Lüning heads up the firm's equity practice, while Svante Hultqvist leads the debt team.

A notable transaction on the equity side last year saw Magnus Lindstedt and Lüning act for Transcom Worldwide on its rights issue. The deal was complicated by the need to issue through Swedish depository receipts as opposed to shares.

After a sustained recruitment drive Cederquist have overcome a bumpy period in 2011. And with young fresh blood and a reshuffle the firm are pulling in some impressive mandates. With Peter Wirell as department head, the team is strongest in mid-cap private equity deals and are good at international work. In 2012, the firm were involved on one of the largest public-to-private transactions in the Nordic region. Wilhelm Lüning is described by a client as "very useful" with corporate secretarial and governance work "They always respond swiftly and with a good knowledge of the law."

Deals
In one of the largest public-to-private transactions during the past 12 months Wilhelm Lüning and Martin Ulfson advised Nordic Capital Fund VII in its SKr2 billion (€239 million) private acquisition of ORC Group, a leading provider of technology and services to the global financial industry.

In a big ticket deal Lars Bärnheim advised Accent Equity 2008 in its sale of mining and tunnelling contractor Bergteamet in October 2011.

On the corporate side a team advised North American Domtar Corporation (the world's second largest manufacturer of paper products) in its €180 million acquisition of the Attends Healthcare Group from the British firm Rutland Partners.

Meanwhile, the firm represented another international client; Canadian BlackBerry maker Research In Motion in its acquisition of JayCut, a leading web-based video editor in 2011.