Swedish business law firm Cederquist was established in 1953 by Bengt Cederquist. The firm has its office in Stockholm and boasts of being one of the leading law firms in the Nordics. The firm advises clients in the Nordic region, European Union, the UK and the US through its strategic cooperation with leading global law firms. The firm is known for its work across the financial and corporate space with a particular strength in banking and finance.
Highlights
The firm acted as lead counsel to Billerud (the Borrower) on $518.2 million multicurrency revolving facility agreement.
In debt capital markets the firm advised Nyfosa on its issuance of $85 million bond loan and an offer to repurchase certain previously issued bonds.
In M&A the firm advised advised ACQ Bure on its $781 million with merger Yubico. The firm also advised Nordic Capital on its 100% acquisition of Autocirc Group from Alder.
Key clients
Billerud, Bonava, MTR Nordic, Nordic Capital Group and Orkla.
Swedish business law firm Cirio based in Stockholm. The firm's history could be traced to 1918 when it was originally founded. The firm was relaunched in January 2019 when it rebranded as Cirio and spun-off from Lindahl’s Stockholm office. The deal team is led by managing partner Emma Dansbo and supported by well-seasoned legal practitioners. The firm is active in all areas of corporate law and project development.
Highlights
The firm advised AB Sagax on its $20 million directed share issue subscribed by Swedish and international professional and institutional investors.
The firm also advised Besqab on its $180 million merger with Aros Bostadsutveckling through a non-cash share offer from Aros Bostadsutveckling to the shareholders of Besqab.
The firm advised Pareto Securities (as Sole Bookrunner) on the $9.53 million rights issue of Biovica International.
Key clients
AB Sagax, Aareal, Biokraft, Enercon and Pareto Securities.
The Swedish law firm Delphi has offices in Stockholm, Gothenburg, Malmö and Linköping. The deal team is made up of about 150 lawyers who advise clients out one of their Swedish offices. The firm is being led by managing partner Stefan Erhag and supported by well-seasoned legal practitioners such as David Aversten. The firm is active in several financial and corporate areas such as banking, capital markets, M&A and restructuring and insolvency.
Highlights
The firm advised Olink Holding on its $116 million offering of American Depositary Shares. The firm also advised Mendus on its SEK 317 million directed issue and fully secured rights issue of units.
In M&A, the firm advised Rantalainen Group on its acquisition of all outstanding shares in Klara Consulting Holding.
The firm also advised assisted Bas Invest on its $9.2 million acquisition of all shares in JAY Solutions from a collective of oweners represented by CapMan.
Key clients
AddLife, Momentum Group, Pareto Securities, Rantalainen Group and Serneke Group.
The Swedish domestic law firm Gernandt & Danielsson was founded in 1992. It is based in Stockholm. The firm boasts of being a leading law firm in both Swedish and international business law practice by providing commercial law advice to large and medium-sized Swedish and global clients. The deal team is led by managing partner Manfred Löfvenhaft and supported by prominent Swedish-qualified legal practitioners with international experience. The firm has a well-rounded legal practice in Sweden attaining a top-tier status across ranked practice areas.
Highlights
A recent example of the firm's expertise in banking is advising Diebold Nixdorf on its $1.25 billion senior secured super priority DIP credit facility in connection with Diebolds Chapter 11 proceeding in the US.
In debt capital markets, the firm advised NP3 Fastigheter on its issuance of $50 million green bonds under its existing $500 million high yield MTN programme.
The firm also advised Modern Times Group on its acquisition of 70% majority stake in Snowprint Studios.
Key clients
Carnegie, Diebold Nixdorf, Deutsche Bank, Goldman Sachs and Morgan Stanley
Hammarskiöld is a leading Swedish business law firm founded in 1998. The firm has an office in Stockholm. The firm has broad expertise across a range of legal practice areas. The firm focuses mainly on Swedish law but has significant experience in advising on international business law issues. The team is led by managing partner Mattias Anjou and supported by well-seasoned Swedish qualified legal practitioners. The firm is active in banking, debt and equity capital markets, M&A and Restructuring and insolvency.
Highlights
The firm advised Skandinaviska Enskilda Banken (as financial advisor) on the SEK 70 million private placement of shares by eEducation Albert.
Key clients
Citibank, European Investment Fund, Goldman Sachs, JP Morgan and Skandinaviska Enskilda Banken.
Linklaters is one of the leading firms across Europe, established as far back as 1838. Its office in Stockholm is one of the cornerstones in the firm’s international offering and execution of deals across the Nordic region.
Focusses / specialisms
The firm often advises clients on M&A, equity and debt capital markets. The firm is particularly strong when it comes to large cap private equity transactions and cross-border strategic M&A work for blue chip corporate clients.
Key clients
Key clients of the firm include EQT, Swedbank, Deutsche Bank, Nordea Bank, Skandinaviska Enskilda Banken, JP Morgan, Bank of America Merrill Lynch, DNB Bank, Danske Bank, Akelius, Cevian Capital, ComHem, Triton and Assa Abloy.
Client feedback: 32nd edition (2022/2023)
Capital markets: Equity
“Extremely diligent and knowledgeable. Takes ownership of transaction, making the legal track of the transaction smooth with consistently good results.”
M&A
“Reliable and responsive partner regardless of the type of project. Able to provide the full picture as they cover both local and global aspects.”
The large Swedish law firm Mannheimer Swartling was founded in 1990. The firm has international presence in Stockholm, Gothenburg, Malmö, Brussels, Singapore and New York. The firm has a full-service offering with specialist lawyers across all business law practices. The team is led by managing partner Jan Dernestam who is highly regarded in the Swedish legal market and supported by well-seasoned legal practitioners. The firm is a true leader in the Swedish market achieving tier one rankings across all practice areas.
Highlights
The firm advised Northvolt on the $5 billion non-recourse financing for the expansion of its gigafactory for cathode production and cell manufacturing as well as its recycling facility in Sweden.
The firm acted as local counsel to Teleflex Incorporated on its $650 million acquisition of Palette Life Sciences.
In restructuring and insolvency, the firm advised Apikal Fastighetspartner and Apikal Fastighetspartner II on its bankruptcy proceedings of Nordic City Properties.
Key clients
Altor Equity Partners, H2 Green Steel, Klarna, Northvolt and Volkswagen Finans Sverige.
Roschier is a leading Nordic law firm founded in 1936 with offices in Sweden and Finland. The firm established its Stockholm office in 2005. The firm has an excellent track record of advising on large international business law transactions. The Stockholm team is headed by Pontus Enquist, a reputable leader in the market, and supported by well-seasoned legal practitioners. Also worthy of mention are partners Jens Bengtsson, Johan Häger and Malin Leffler, who are leaders in the market. The firm has a well-rounded practice, achieving tier-one status across all practice areas.
Highlights
The firm advised Swedbank on the $166 million senior secured term loan facility agreement provided to SBB Educo Sverige Holding (as borrower) and SBB Educo (as guarantor).
In debt capital markets, the firm advised Pareto Securities (as sole global coordinator and sole bookrunner) on the $810 million issuance of senior secured bonds by Skill BidCo.
The firm advised Gamma Biosciences on its $215 million share for share sale of Astrea Bioseparations to Swedish Nasdaq listed company Biotage.
Testimonials
"Hands on and very knowledgeable." (Equity Capital Markets Client)
"They are super-professional, skilled, highly available and overall, a reliable legal partner." (Equity Capital Markets Client)
Key clients
Arctic Securities, Blackstone, Carnegie Investment Bank, Credit Suisse and Pareto Securities.
Setterwalls is one of Sweden's oldest law firms with history that goes back to 1878 when Nils Setterwall and Oscar von Koch acquired Advokatföreningen, Juridisk Affärsbyrå in Stockholm. The firm has offices in Stockholm, Gothenburg and Malmö. The firm provides worldclass advice across all areas of business law. The deal team consists of Swedish qualified legal practitioners with international expertise led by managing partner Marc Tullgren and executive partner Henrik Kjellander. The firm is well versed in several financial and corporate practice areas.
Highlights
The firm advised Pamica Group on the SEK1.6 billion credit facility provided by Nordea Bank and Danske Bank for acquisition purposes.
In Equity Capital Markets, the firm advised Fastighets AB Balderin on its $115 million directed share issue o to AMF and Swedbank Robur.
In M&A, the firm advised Bulten on its SEK530 million indirect acquisition of Exim & Mfr Holdings.
Key clients
Danske Bank, Nordea Skandinaviska Enskilda Banken Svenska Handelsbanken and Swedbank.
The Stockholm based leading law firm Snellman was founded in 2008. The firm is a recent spin off from Hannes Snellman Helsinki. The firm advises leading international and local corporations on business law issues. The team is being led by managing partner Fredrik Olsson who is highly regarded in the Swedish market and supported by prominent legal professionals. The firm commands a strong presence in financial and corporate transactions such as banking, debt and equity capital markets, M&A, project development and restructuring and insolvency.
Highlights
The firm advised Citycon on the $98 million fixed rate green term loan provided by pbb Deutsche Pfandbriefbank (PBB) and Landesbank Hessen-Thüringen Girozentrale and secured by Liljeholmstorget Galleria in Stockholm Sweden.
The firm advised Eltel on its issuance and listing of $27 million subordinated sustainability-linked hybrid capital securities.
In M&A the firm advised Sylvamo Corporation on its $160 million acquisition of Stora Enso Nymölla Paper.
Key clients
Dustin Group, Equip Capital, Skandinaviska Enskilda Banken, Sylvamo Corporation and Thoma Bravo.
The Swedish law firm Vinge was established in 1983 following a merger of 4 local law firms. The firm has offices in Stockholm, Gothenburg, Malmö, Helsingborg and Brussels. The firm is being managed by Louise Brorsson Salomon, who doubles as the managing partner of Stockholm and chief executive officer. Louise is supported by Anna Edström and Anna Palméru, the managing partners of Malmö and Gothenburg respectively. The firm advises on a wide range of transactions, attaining a top-tier status across ranked practice areas.
Highlights
The firm advised Bridgepoint on its SEK625 million acquisition financing of the Ports Group.
The firm also advised Svea Bank on its issuance of SEK300 million additional tier 1 capital bonds.
The firm advised Samhällsbyggnadsbolaget i Norden and Neobo Fastigheter in connection with the spin-off and listing of Neobo Fastigheter AB on Nasdaq First North Growth Market.
The firm advised Biotage on its $215 million acquisition of Astrea Bioseparations from Gamma Biosciences.
Key clients
Altor, Biotage, Cinven, Sandvik and Swedbank.
Swedish law firm Wigge & Partners is a leading commercial boutique law firm in Stockholm. The firm was founded in 2015 by 5 partners from one of Sweden's leading full-service firms. The firm has significant expanded since inception and currently has over 50 professionals including 10 partners. The deal team is made up of Swedish qualified lawyers worthy of mention are Stefan de Hevesy, Anders Morén and Henrik Wenckert, who have stellar reputation in the market. The firm has a strong offering in banking, capital markets and M&A.
Highlights
The firm advised Brunswick Real Estate Capital on its SEK864.6 million refinancing provided to Ontario Teachers’ Pension Plan Board for the acquisition of real estate property portfolio in Sweden.
The firm advised John Mattson Fastighetsföretagen on its SEK1.25 million fully guaranteed rights issuance.
The firm also advised Scandinavian Enviro Systems on its SEK300 million directed share issue.
Key clients
European Central Bank, European Investment, Bank John Mattson Fastighetsföretagen, Wall To Wall and Scandinavian Enviro Systems.
AG Advokat is a Swedish business law firm located in Stockholm. The firm was formed in 1985.
Focusses / specialisms
A key focus area for the firm is project work, especially in the construction and real estate sector.
The firm has also expanded its banking and finance offering, where it assists both international and domestic clients on financing transactions such as bilateral and syndicated loans, real estate financing, renting and hybrid solutions.
Key clients
The firm’s key clients include 21Shares, CoinShares Digital Securities, Valour Structured Products, WisdomTree Issuer and XBT Provider.
Chicago-headquartered multinational law firm Baker McKenzie has an active presence across the Nordic region. In Sweden, the firm’s Stockholm teams advise clients across the region.
Focusses / specialisms
The firm’s banking team advises clients on the full extent of–often cross-border–banking transactions. The firm has steadily increased its involvement in leveraged finance, restructuring and debt capital markets transactions in Sweden.
The firm’s capital markets practice has a strong position in the local IPO market and handles a bundle of equity transactions in each research cycle.
In corporate and M&A, the firm excels in handling cross-border transactions with elements in multiple jurisdictions.
Key clients
Key clients include Citigroup, Carnegie Investment Bank, JP Morgan, Bank of America, Morgan Stanley, Barclays, Husqvarna, Latour, Maersk, Securitas, Embracer Group, Nordic Capital, Ratos, Bain Capital, FSN Capital, Trill Impact, Nalka Invest, Verdane, Accent Equity, SEB, Danske Bank, Swedbank, EQT Credit, Cordet Capital, Roundshield, EQT, FSN Capitaland Google.
Client feedback: 32nd edition (2022/2023)
Capital markets: Equity
“Extremely competent and qualified within the capital markets area, handling complex matters in a very good way. Very flexible and always available for any situation.”
M&A
“They are a true global law firm that provides services our clients need, especially on cross-border M&A and capital markets transactions. Our connection through the Stockholm office provides us with access to this network and helps ensure that our clients get attention from teams that suit their needs.”
Bird & Bird is an international law firm headquartered in London. The firm has about 29 offices around the world including a strong presence in the Nordics with an office in Stockholm.
Focusses / specialisms
The firm is active in M&A and equity capital markets within the financial and corporate sphere in Sweden. The Swedish team works closely with the firm’s internationally renowned IP practice and secures key mandates in both areas.
Key clients
Key recent clients include RNB Retail and Brands, ChromoGenics, Beowulf Mining, Irisity, Eurobattery Minerals, EnQuest, Greater Than, QP Games and Sten Forseke.
One of the largest Swedish law firms, Lindahl advises clients across a variety of practice areas and industries from its Stockholm office.
Focusses / specialisms
In capital markets, the firm specialises in advising clients in information matters, share issues, incentive programmes and all other areas of law where a listed company may need legal advice. The firm has advised on several large listings on Nasdaq in recent years. It has also been active in debt capital markets work.
In M&A the firm is recognised for its advice across several industry sectors, including TMR, IP, energy and life sciences.
Restructuring and insolvency is among the firm’s key focus areas. The practice’s advice ranges from financial work, refinancing of distressed debt to acting as receivers in bankruptcy and solvent liquidation and as administrators in company reconstructions, appointed by the courts.
Key clients
Key clients include Roadbridge, Nykredit Realkredit, K2A Knaust & Andersson Fastigheter, British American Tobacco, Coeli Private Equity, Volati, EQT, European Energy, Unwrap Finance, Addedo International, Algorithmica Research, Boule Diagnostics, OXE Marine, Byggmax Group, Fortnox, Karolinska Development, Klövern, Nanologica, TagMaster and Swedencare.
Client feedback: 32nd edition (2022/2023)
Financial services regulatory
“Proactive; professional; and reliable.”
Schjødt is a Scandinavian law firm with a significant international presence. The firm, founded in 1999, is present in Sweden via an office in Stockholm.
Focusses / specialisms
The firm has a market-leading offering across the full range of financial and corporate areas.
Its banking and finance department advises on a wide variety of finance transactions, with a particular focus on real estate finance, and cross-border leveraged acquisition financing banking.
The firm’s team advising on capital markets, financial regulatory and tax is also highly able. It has exceptional capabilities in assisting on capital markets and public M&A transactions. The firm is well known for its expertise in the cryptocurrency sector, alongside its superlative knowledge of the life sciences and healthcare sector.
The M&A team has experienced growth in the recent past and is among the strongest practices in the area in Sweden, advising on the structuring and implementation of all types of M&A transactions and private company investments in the wider Nordic region.
Key clients
Key clients include Baring Vostok Capital Partners, NREP, MTG, Goldman Sachs, Morgan Stanley, Carnegie, Swedbank, Danske Bank, DNB, Bank of America Merrill Lynch, Nordea, Deutsche Pfandbriefbank, American Express, Ture Invest, Proventus Capital Partners, Ares Management, Procuritas and Scope Capital.
Client feedback: 32nd edition (2022/2023)
Insolvency
“Apart from being really good lawyers, the people from Schjødt that we have been working with have true business acumen and understand the business needs.”
M&A
“Client-centric. Hardworking. Making specialist functions come together seamlessly. Fun factor.”
Törngren Magnell is a Swedish transactional law firm. The firm was founded in 2006 and is located in Stockholm.
Focusses / specialisms
The firm’s banking team is strong. It regularly works for lenders and barrowers on the full spectrum of lending work.
In the capital markets space the firm is active on debt and equity mandates, advising clients such as international listed companies, private equity and venture capital funds, investment banks, investment funds and security companies.
The M&A team acts for both buyers and sellers, often with a private equity element. The firm regularly advises high profile mid-market Nordic private equity houses as well as several state-owned companies.
Key clients
Key clients include Norvestor Equity, Priveq Investment, Endúr, Posti Group, RNB Retail & Brands, MAG Interactive, NetNordic, CDON and Nelly Group, The Hans and Barbara Bergström Foundation, Saxlund Group, Inission, Prime Living, Nordea, Svenska Handelsbanken, Nykredit, Danske Bank, Hemfosa Fastigheter, NREP, Mölnlycke Holding, Samhällsbyggnadsbolaget and Litorina Capital Advisors.
Research period review: 31st edition (2020/2021)
The banking team had a busy year, advising both borrowers and lenders on a high volume of lending mandates. The firm was particularly active in acquisition finance, but also assisted on real estate finance, refinancing and financial restructuring matters.
In equity capital markets the firm advised a wide variety of market participants on IPOs, private placements, directed issues and reverse acquisitions. In the dept capital market area the firm did predominantly issuer side work on bond issuances.
The M&A acted for a mix buy and sell side clients on predominantly local transactions. The firm was highly active in the Swedish private equity space.
In staffing changes partner Eva Sundling joined the banking practice during the research period. Counsel Bruce McGinn departed the corporate and M&A area.
Deal highlights: 31st edition (2020/2021)
Arcane Crypto IPO
CDON IPO
Endúr SEK400 million acquisition of Marcon Gruppen i Sverige
Enea acquisition of Aptilo
NREP SEK1.5 billion real estate financing
Prime Living SEK640 million recapitalisation
Samhällsbyggnadsbolaget €700 million social bond issuance and €500 million perpetual hybrid bond issuance
Saxlund Group SEK85 million rights issue
Sdiptech financing to acquire Rolec
The Hans and Barbara Bergström Foundatio SEK 3.1 billion mandatory public cash offer for Internationella Engelska Skolan i Sverige Holdings II
Client feedback: 31st edition (2020/21)
Asset finance
"My opinion is regarding Eva Sundling. She is a skilled lawyer within, among others, asset finance, payment services, securities related issues and also other types of financing."
Bank lending : Lender side
"Fully understand Swedish law but also reflecting Danish law as the financing is based on this."
"Knowledgeable, pragmatic, fast."
"Fast to answer questions - fast to produce documents - accurate - high business integrity."
"High competence - high level of service - positive attitude - easy accessibility - effective."
"Understanding need for balance between lender and borrower, high quality of early drafts, high availability of counsels and swift response."
"Very high level of partner interaction. Very good understanding of our needs and business. Very responsive and available."
Capital markets
"Accessibility and width."
Capital markets : Debt
"They have a long track record working with us and the knowledge of the history of the company. We have good contact and can reach the lawyer at short notice. "
Financial services regulatory
"Competent, accurate and proactive."
"Easy to get in touch with and quick responses. "
"Extreme service mindset. Deep know-how."
Investment funds
"Deep industry knowledge. Precision in advice and seniority. High-impact advice. Superb customer service."
M&A
"Very professional - knowledgeable - thorough."
Cecilia Rudels
"Responsive. Skilled."
"Available, solutions oriented and client centric. Obviously appreciated also by borrowers as many of them want us as a bank to have her as counsel."
"High level of interaction. Availability and knowledge and willingness to explain. Understanding of our business and needs."
Eva Sundling
"Very good service in a timely manner."
"Knowledgeable."
"Competence; communication skills; negotiation skills (vs. our client's lawyers); positive attitude; in general exceeding our expectations."
"Eva has customer focus and is very skilled in the financing and payment service areas. She was very much appreciated as a legal adviser within the bank and I'm sure she is doing well also at the law firm. "
Johan Wigh
"Cares about his clients. Has deep knowhow on a wide range of topics."
"Very analytical; good business sense; thorough in evaluations; nice to work with; right attitude with business partners."
Niclas Högström
"Problem solver. Thinks on his feet. Understands complex context. Excellent to work with when negotiating large deals; understands role well."
Sandra Broneus
"Knowledge; proactive; eager to help."
Tobhias Brandell
"His long track record and knowledge of the company from start of 2017. Easy to contact with short notice."
"Very fast to answer mails and calls. Always will help us in the best way. High level of business integrity. Even if his colleagues are working on our case, he is always available for questions."