Mandate Vinge has assisted STRAX in connection with a 30 MEUR facilities agreement with Proventus Capital Partners IV as lender

November 05, 2020

Vinge assisted the STRAX group in refinancing and the entering into a facilities agreement with Proventus Capital Partners IV (“Proventus”) as lender in the total amount of EUR 30 million.

Over the past five years, a banking consortium consisting of four German banks has accounted for the majority of the STRAX group’s long-term financing. The new facilities agreemet was entered into with Proventus in July 2020 and is for a term of five years. The loan was paid out in two tranches, one subordinated tranche of EUR 6 million in July 2020 to provide additional working capital until the full amount was paid out on 30 October 2020, in connection with the refinancing of the maturing loans to the German bank consortium. This was announced by Strax AB 17 July 2020.

STRAX is a market-leading global specialist in mobile accessories. STRAX has two complementary businesses - own brands and distribution (retail and online marketplaces) - where the lifestyle audio brand Urbanista is the flagship along with the licensed brands within Adidas. Today, STRAX has over 200 employees in 12 countries with its operational HQ and logistics center based in Germany. STRAX AB is listed on Nasdaq Stockholm Stock Exchange.

Vinge's team has consisted of Fabian Ekeblad, Henrik Ossborn, Paulina Malmberg and Elin Samara. Jesper Schönbeck advised on capital market issues.

 

Jerker Kjellander is a new partner in Skåne

Dispute resolution expert Jerker Kjellander has been elected as a partner in Vinge’s Skåne office.
November 20, 2020

Amendments to the Swedish Competition Act provide extended powers for the Swedish Competition Authority

Early in 2021, the Swedish Competition Act (2008: 579) will be amended in several important respects. The background to the amendments is Directive (EU) 2019/1 of the European Parliament and of the Council, which aims to harmonize the investigative and sanctioning powers of the European competition authorities in their enforcement of the EU competition rules. Undertakings active in Sweden will be affected by the amendments in several ways.
October 12, 2020

Vinge contributes to IUMI Eye

International Union of Marine Insurers (IUMI) is preparing for its first web based conference – Stockholm 2020 – of which Vinge is a proud sponsor. In the latest edition of IUMI Eye, published just in time for the conference, Vinge’s Paula Bäckdén and Sweden Insurance’s senior advisor Mikaela Tamm discuss the implications of waiving liability limitations.
September 15, 2020