Go North Group AB (publ) successfully raises SEK 79,000,000 of equity from new co-investors and the total round of SEK 150,000,000 was over-subscribed.
Go North Group AB (publ) (“Go North” or the “Group”) has successfully raised approximately SEK 79,000,000 of equity (the “Transaction” or the “Equity Raise”) from new co-investors including Access Capital Partners and Qualitas Equity (the “Co-investors”). Proceeds from the Transaction will be applied towards acquiring identified Amazon brands in the Group’s near-term pipeline and to further strengthen the profitability of brands in the existing portfolio.
As announced in the press release dated 6 October 2022 (Completion of 1st closing), the Group had an ongoing share issue directed toward existing shareholders of up to SEK 150,000,000 in aggregate, which following the Equity Raise from the Co-investors is now fully subscribed (2nd closing). The Transaction generated strong interest from prospective investors and was ultimately oversubscribed.
Go North has in less than a year built a portfolio of 28 brands, diversified across a variety of Amazon categories, ranging from pets, sports, and outdoors to kitchen supplies. In parallel, Go North has now built a team of nearly 40 people with several key hires coming with Amazon Aggregators and marketplace experience, spread across Europe, the US, and Asia. Continued investments in technology and data are business critical and within Go North’s DNA to ensure we strengthen our processes and make data-driven and informed decisions to create future repeatable and scalable profit growth for the Group.
“I am very pleased to welcome our new international Co-investors onboard and look forward to continuing executing on Go-North’s strategic agenda going forward. This Transaction is a strong testimony to our business model and positions the Group well to act upon exciting opportunities to acquire identified Amazon FBA brands in our near-term pipeline as we see less competition among acquirers and acquisition multiples at very appealing levels today” says Johan Hallenby, CEO/Founder of Go North.
For more information, please contact
Johan Hallenby, Founder & CEO, Go North
+46 735 07 07 07, johan.hallenby@gonorth.co
Magnus Wiberg, Managing Partner, eEquity
+46 735 37 50 00, magnus.wiberg@eequity.se
