Fortnox Receives SEK 54.9 Billion Offer from EQT X & First Kraft
Deal News | Mar 31, 2025 | Gernandt & Danielsson Advokatbyr
In a significant development in the Swedish tech sector, EQT X and First Kraft have announced a public cash offer for all shares in Fortnox Aktiebolag, valuing the company at SEK 54.9 billion. The offer is made by a bid consortium and has been recommended for acceptance by Fortnox's board of directors. Esteemed law firm Gernandt & Danielsson is advising Fortnox's board with a team led by partner Mikael Borg, and the legal team includes senior associate Daniel Sveen and associate Siri Telmen, with further assistance from partner Niclas Rockborn, senior associates Rikard Sundstedt, Astrid Svensson, and associate Sofie Halln. This strategic acquisition bid highlights EQT X's interest in expanding their holdings within the tech sector.
Sectors
- Private Equity
- Technology
- Legal Services
Geography
- Sweden – Fortnox Aktiebolag is a Swedish company, and the legal advisory firm Gernandt & Danielsson is based in Sweden, making this geographical classification pertinent.
Industry
- Private Equity – The article prominently involves EQT X, a private equity firm, as part of the bidding consortium, highlighting activity within the private equity sector.
- Technology – Fortnox, the target company, operates within the technology sector, providing platforms and solutions, making it relevant to this classification.
- Legal Services – Gernandt & Danielsson, a legal advisory firm, is involved in providing consultancy services to Fortnox, denoting activity in the legal services industry.
Financials
- SEK 54.9 billion – This is the total valuation of all the shares of Fortnox as per the public offer by EQT X and First Kraft.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortnox Aktiebolag | Target Company | Company | Fortnox is a Swedish technology company involved in providing financial solutions. |
| EQT X | Bidding Company | Company | EQT X is a private equity firm involved in the public offer for Fortnox shares. |
| First Kraft | Co-Bidder | Company | First Kraft is part of the consortium alongside EQT X in the purchase proposal for Fortnox. |
| Gernandt & Danielsson Advokatbyr | Legal Advisor | Company | A legal firm advising Fortnox on the cash offer from EQT X and First Kraft. |
| Mikael Borg | Lead Partner | Person | Partner at Gernandt & Danielsson leading the legal advisory team for Fortnox. |
| Daniel Sveen | Senior Associate | Person | Senior associate who is a part of the Gernandt & Danielsson team advising Fortnox. |
| Siri Telmen | Associate | Person | Associate at Gernandt & Danielsson involved in advising Fortnox. |
| Niclas Rockborn | Assisting Partner | Person | Partner assisting the advisory team for Fortnox at Gernandt & Danielsson. |
| Rikard Sundstedt | Senior Associate | Person | Senior Associate providing assistance to the legal team at Gernandt & Danielsson. |
| Astrid Svensson | Senior Associate | Person | Part of the assisting legal team advising Fortnox, from Gernandt & Danielsson. |
| Sofie Halln | Associate | Person | An associate assisting in the legal advisory for Fortnox's board. |