CLP is advising Jordanes in connection with a management buyout and refinancing of the Jordanes group

CLP has the pleasure of assisting the Jordanes team in its recently announced management buyout and refinancing. Jordanes is an established Scandinavian brand house focusing on everyday products and services. Jordanes owns and operates a diverse portfolio of iconic brands, including Synnøve Finden, Sørlandschips, Peppes Pizza, Bodylab, and Backstube.

In the transaction, the founders of Jordanes, Jan Bodd and Stig Sunde, together with certain key employees, have entered into agreements to acquire approximately 98.8% of the outstanding shares in Jordanes ASA, and expect to agree upon an acquisition of the remaining minority post shortly.

The buyout will be financed with a loan of NOK 2.75 billion from Carlyle's Global Credit platform, and the funds will also be used to refinance the Jordanes group. This includes the redemption of unsecured bonds issued by Jordanes Investments AS in an amount of NOK 1,200 million, which is expected to complete in February 2025.

The transaction is expected to be completed in December 2024, subject to customary conditions.

The CLP team on corporate matters was led by Andreas Kildal, with the support of Joakim Gjerde, Christine Schjerven, Amalie Sundby and Hanna Kristine Tendal. Banking and Finance Partner Axel Manø Juul, with the support of Magdeli Støten, led our debt financing team.

Link to Jordanes Investments' press release .

Link to articles in Dagens Næringsliv And Finansavisen .