The share offering was based on a market capitalisation of SEK 760 million and the share offering deal size was SEK 575 million. The transaction structure comprised of SEK 250 million in primary capital and a secondary sell down of SEK 325 million (incl. SEK 75 million in Green shoe). Herkules IV will remain the largest shareholder, holding 11% of the shares after listing.
The listing together with an ownership spread of the Company’s shares will promote continued growth and development. An ownership spread of the Company’s shares entails increased credibility and knowledge as well as a quality stamp that the Company considers could be beneficial in customer relationships, to attract and retain staff and in relation to suppliers. The proceeds of SEK 250 million, is intended to be used to (1) acquire the remaining shares of RetNemt.dk ApS in Denmark, (2) redeem the group’s outstanding bond and (3) finance transaction related costs and working capital.
The current investment team, comprised of Gert Munthe and Fredrik Kongsli, will represent Herkules on the board and continue to work closely with the company.
LMK Group provides fresh, healthy, flexible and adaptable meal kit solutions to around 115,000 active and 405,000 registered customers in Sweden, Norway and Denmark. For more information about the company, please visit https://lmkgroup.se/