Go North Group AB (publ) issues senior secured floating rate bonds of SEK 225,000,000 to buy and grow Amazon Marketplace businesses.
Amazon’s incredible success is partly driven by third-party sellers, and the idea of aggregating these smaller brands under an operational umbrella to increase profitability has shown great success. Today, Go North Group AB (publ), a leading e-commerce aggregator operated by Amazon FBA entrepreneurs, has successfully issued senior secured floating rate bonds in an amount of SEK 225,000,000 under a framework of up to SEK 280,000,000 with ISIN SE0018040867. The bonds were issued at a price of 100 per cent. of the nominal amount and are due in July 2025. The transaction was well received by the market, as evidenced by a strong demand despite severe market conditions. Altogether over 30 investors participated in the issue and attracted significant demand from the US and Continental Europe. The funding comes shortly after the previously announce SEK 77,500,000 equity round in April 2022 lead by eEquity.
Go North Group AB (publ) have in just a few months built a portfolio of 15 brands, with impressive post-acquisition growth (YoY), built a team of +20 people and plan to acquire 12 new identified brands to continue grow both revenues and profits for the group. The proceeds from the bond issue will be used to, inter alia, finance general corporate purposes of the Group, including investments and acquisitions.
Pareto Securities AB acted as sole arranger and bookrunner in connection with the bond issue.
Bird & Bird acted as legal counsel to Go North Group AB (publ) and Roschier acted as legal counsel to Pareto Securities AB.
“Completion of the bond debt raise means we will strengthen our position as the leading FBA aggregator in Northern Europe, acquiring and scaling fast-growing brands on the Amazon Marketplace globally. Since the first acquisition, six months ago we are now 15 brands in the group with great organic post-acquisition growth, have a huge M&A pipeline and we have built a world class team. The next big step will be to raise our next equity round in Q3-22” says Johan Hallenby, CEO and Founder at Go North.
“With this financing solution in place, Go North achieves an efficient and flexible balance sheet and becomes geared to expand its business going forward. Obtaining bond financing during such poor market conditions on short time reflects the great trust in Go North and its owners. This empowers our management team to continue developing and positioning Go North as a leading FBA aggregator” says Magnus Wiberg, Managing Partner at eEquity.
For more information, please contact
Johan Hallenby, CEO & Founder, Go North Group
+46 (0) 73 50 70 707, johan.hallenby@gonorth.co
Magnus Wiberg, Managing Partner, eEquity
+46 (0) 73 53 75 000, magnus.wiberg@eequity.se
