On Thursday, 20 February 2026, Zøllner A/S (“Zøllner”) announced that it had entered into an agreement to be acquired by Infra Group, backed by PAI Partners, ICG and Andera Partners, for an undisclosed consideration. Zøllner is a Danish construction, infrastructure and utility contractor headquartered in Kvistgaard, Denmark. Since establishment in 2007, the company has delivered infrastructure, utility and construction projects across Denmark. Over time, Zøllner has expanded its capabilities to include railway works, harbour construction, water works and coastal protection. The company undertakes projects across a broad range of project sizes and complexity, operating as a trade contractor, main contractor or design-and-build contractor, both in urban environments and open land, for public as well as private clients. Infra Group, owned by Infra Management, PAI Partners, ICG and Andera Partners, is a multidisciplinary group of companies dedicated to underground and overhead infrastructure work. Headquartered in Temse, Belgium, the group operates across numerous European markets including Belgium, the Netherlands, France and Germany. Infra Group specialises in earthworks and the construction, upgrading and maintenance of distribution and transportation networks for electricity, telecommunications/IT and data, water, liquids and gases. ABG Sundal Collier acted as exclusive financial advisor to the shareholders of Zøllner.

On 18 February 2026, Tieto announced the sale of two of Tieto Indtech’s software businesses, Edlevo and HR & Payroll, to EG, a leading industry-specific software provider operating across the Nordics. The divestment supports Tieto Indtech’s strategic ambition to create a stronger and more focused portfolio. The divested businesses generated combined revenues of EUR 37 million and adjusted operating profit (EBITA) of EUR 5 million in 2025, and employ approximately 260 people. The agreed cash and debt free purchase price amounts to EUR 95 million, subject to customary closing adjustments. The transaction is expected to close during the second quarter of 2026. Tieto Indtech is a portfolio of eight distinct software product businesses serving specialised industry verticals. As part of its ongoing portfolio simplification and focus on long-term growth, Tieto Indtech is taking active steps to streamline operations and enhance strategic clarity. The agreement with EG marks an important milestone in this process. ABG Sundal Collier is pleased to have supported Tieto in this transaction and would like to thank the company for the opportunity to partner on this strategic divestment.

On 13 February 2026, Volue announced that TA Associates (“TA”) has joined as a new strategic investor alongside Advent International, Generation Investment Management and Arendals Fossekompani. TA’s investment further strengthens Volue’s shareholder base and supports the company’s next phase of growth, following a strategic transformation that has sharpened Volue’s focus on the energy sector through divestments of non-core activities and continued investment in R&D and strategic acquisitions. Volue is a global leader in electrification technology, delivering an integrated platform that supports the full energy lifecycle – from data and forecasting to trading, asset optimisation and grid management – helping more than 2,500 customers navigate an increasingly complex energy system. The transaction continues ABG Sundal Collier’s relationship with Volue and its shareholder base, having served as financial adviser to Arendals Fossekompani in connection with the 2024 public-to-private transition of Volue. ABG Sundal Collier acted as one of the financial advisors to Advent International in connection with TA’s investment in Volue.

On Friday 13 February 2026, Morrow Bank AB (publ) (“Morrow”) successfully completed the issuance of a floating rate Tier 2 capital bonds of NOK 200 million, with final maturity in 2036 and first call date after 5 years. The net proceeds from the bond issue will be applied towards general corporate purposes, including the refinancing of Morrow’s outstanding NOK 65 million Tier 2 capital bonds with ISIN: NO0010941131. The bonds will have a coupon of 3m NIBOR +375bps p.a. and will be listed on Nordic ABM.

Morrow Bank is a specialized consumer finance bank who offers a wide range of attractive and flexible financing solutions, credit cards and savings solutions to its customers in Norway, Sweden and Finland.

Zengun Group AB (publ) (“Zengun”) has successfully issued senior secured bonds of SEK 750 million under a total framework of SEK 1,500 million. The transaction represents Zengun’s fourth bond issuance, following its inaugural bond issue in 2019. The net proceeds from the bond issue will be used to refinance the company’s outstanding bonds, the repayment preference shares in the parent company, and for general corporate purposes. The transaction attracted strong demand from Nordic and international institutional investors and was significantly oversubscribed. The senior secured bonds carry a coupon of 3-month STIBOR plus 4.5% per annum and will be listed on Nasdaq.

On Wednesday 4 February 2026, Flower Infrastructure Technologies MidCo AB (publ) (“Flower”) successfully completed their inaugural senior secured bond issue in a total nominal amount of SEK 700 million, within a framework of SEK 1,000 million. The net proceeds from the bond issue will be used to refinance existing bank debt, finance capex and investments and general corporate purposes. Flower is one of Sweden’s leading battery optimisation platform managing one of the country’s largest portfolio of grid-scale batteries and third-party assets with +350 MW under management. We would like to congratulate Flower on their successful debut in the Nordic bond market.