Rådgivning
från idé till
investering

On Friday 11 July 2025, Spir Group ASA (“Spir”) announced an agreement to sell its public administration software business Sikri AS (“Sikri”) to STG Partners (“STG”). Following the transaction, Spir will be a streamlined and focused company with leading positions within real estate data and services in Norway and Sweden.

Sikri, which is a leading provider of mission critical public administration software, had revenues of NOK 269.5 million and cash EBITDA of NOK 45.2 million in 2024. The transaction implies an enterprise value of NOK 1.0 billion, in addition to an earn-out payment of NOK 50m, contingent upon the performance in 2025.

STG Partners is a global investment firm with around $12 billion in assets under management.

ABGSC acted as Exclusive Financial Advisor to Spir Group and its owners and would like to extend its gratitude to the full Spir team for the vote of confidence.

On 4 July 2025, Isofol Medical announced the successful completion of the fully subscribed rights issue of units of SEK 91 million including an overallotment issue of SEK 5 million. The proceeds raised secures funding for the expanded Phase II study for the company’s drug candidate, arfolitixorin.

In addition to the initially raised SEK 91 million, two series of warrants were issued as part of the rights issue of units, which may yield additional gross proceeds totalling SEK 112 million if subscribed for in full during March 2026 and November 2026.

On 2 July 2025, FSN Capital VI announced that it had entered into a definitive agreement to acquire Volue Infrastructure, a carve-out of Volue’s infrastructure division and a leading Nordic provider of mission-critical niche infrastructure software for the water & communities and heavy-construction markets.

Volue Infrastructure’s modular, cutting-edge software tools are at the forefront of infrastructure digitalisation, and its offering is anchored in the long-established Gemini product family. Its Water & Communities suite covers the entire water value chain – combining network documentation, hydraulic simulation, real-time leak detection, asset management, billing and citizen engagement tools – to help municipal and regional utilities reduce water loss, meet regulatory targets and enhance customer service. The Heavy Construction suite connects 3D digital design models to on-site execution through modules for terrain modelling, quantity surveying, progress tracking and energy-use optimisation, enabling contractors and authorities to deliver projects faster, more accurately and with a lower carbon footprint.

ABG Sundal Collier acted as exclusive financial adviser to FSN Capital.

On 2 June 2025, Flat Capital (“Flat Capital” or the “Company”) announced a SEK 300 million rights issue along with a potential overallotment issue of up to SEK 130 million. On 1 July 2025, the Company announced the final outcome of the rights issue, which was oversubscribed by approximately 260%. Due to the strong demand, Flat Capital decided to increase the overallotment issue to SEK 300 million, resulting in total gross proceeds of SEK 600 million.

Approximately 76% of the rights issue was secured through subscription commitments from existing shareholders Dusco AB, Altocumulus Investment AB, Frankenius Noterat AB, Cicero Fonder, and Karolina Tham von Heidenstam as well as from new investors including Iliakos AB (wholly owned by Mathias Kamprad), Tuesday Invest AB (wholly owned by Karl-Johan Persson), William Olsson, and Sofia and Märta Schörling.

The purpose of the rights issue was to further strengthen Flat Capital’s cash position to be able to quickly act on investment opportunities in the portfolio and network. ABG Sundal Collier acted as Sole Global Coordinator in the share issue

On 30 June 2025, BerGenBio ASA (“BerGenBio”) and Oncoinvent ASA (“Oncoinvent”) announced that they have entered into a merger agreement to combine the two companies through a statutory merger, where BerGenBio will be the acquiring entity. Following the merger, the combined company shall carry out a NOK 130m fully underwritten rights issue.

ABG Sundal Collier acted as exclusive financial advisor to Oncoinvent in connection with the merger and is acting as joint lead manager and joint bookrunner in connection with the NOK 130m fully underwritten rights issue.

The merger will add approximately NOK 45 million in cash to fund Oncoinvent’s clinical development plan, and together with the proceeds from the rights issue, fund the company through several milestones. Moreover, the combination will substantially broaden the shareholder base, improving liquidity in the share and enable an uplisting from Euronext Growth Oslo, subject to approval by the Oslo Stock Exchange.

The merger is supported by BerGenBio’s largest shareholder Meteva AS and Oncoinvent’s largest shareholders, Hadean Ventures and Linc AB, all of whom have entered into voting undertakings to vote in favour of the merger and lock-up commitments for a period of six months following this announcement. The merger is expected to be completed in around mid September and the rights issue is expected to be completed during October 2025.

On 30 June 2025, BerGenBio ASA (“BerGenBio”) and Oncoinvent ASA (“Oncoinvent”) announced that they have entered into a merger agreement to combine the two companies through a statutory merger, where BerGenBio will be the acquiring entity. Following the merger, the combined company shall carry out a NOK 130m fully underwritten rights issue.

ABG Sundal Collier acted as exclusive financial advisor to Oncoinvent in connection with the merger and is acting as joint lead manager and joint bookrunner in connection with the NOK 130m fully underwritten rights issue.

The merger will add approximately NOK 45 million in cash to fund Oncoinvent’s clinical development plan, and together with the proceeds from the rights issue, fund the company through several milestones. Moreover, the combination will substantially broaden the shareholder base, improving liquidity in the share and enable an uplisting from Euronext Growth Oslo, subject to approval by the Oslo Stock Exchange.

The merger is supported by BerGenBio’s largest shareholder Meteva AS and Oncoinvent’s largest shareholders, Hadean Ventures and Linc AB, all of whom have entered into voting undertakings to vote in favour of the merger and lock-up commitments for a period of six months following this announcement. The merger is expected to be completed in around mid September and the rights issue is expected to be completed during October 2025.