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The Board of Directors of Norditek Group AB (“Norditek” or “the Company”) has today, pursuant to the authorization granted by the Annual General Meeting on January 23, 2025, resolved to carry out a directed new issue of 967,826 shares at a subscription price of SEK 13.8 per share (the “Private Placement). Eiffel Investment Group, an asset manager focused on energy transition and sustainable development (“Eiffel”) has the exclusive right to subscribe for shares in the Private Placement. Through the Private Placement, the Company will raise approximately SEK 13.4 million before deduction of issuance costs. The offering strengthens Norditek’s financial position and enables continued geographic expansion as well as an increased focus on innovation and product development. The investment from Eiffel marks the first institutional investment in Norditek. The Private Placement is being conducted at a subscription price of SEK 13.8.
Daniel Carlberg, CEO of Norditek, comments: “We are very pleased with the confidence Eiffel Investment Group has placed in us—this gives us the opportunity to accelerate Our and expansion as we work toward a resource-efficient societal transition.”
Laurent Inglebert, Director at Eiffel Investment Group, comments:“We are excited to support Norditek as it scales its innovative solutions in the growing circular economy sector. The company has a clear vision, strong execution, and a proven ability to combine environmental impact with economic value for its customers. With its focus on material recovery and circular flows, Norditek is well positioned to benefit from both regulatory momentum and increasing industry demand. We’re delighted to become shareholders and support the Company and its management on this important journey.”
Background and reasons
Norditek has today signed an agreement to acquire all shares in Te Pa Slitdelar AB, a company that specializes exclusively in the sale of wear parts for the recycling industry (“TePa”). Information regarding the acquisition of TePa has been announced in a separate press release. The acquisition of TePa is part of Norditek’s strategy to grow by offering a stronger aftermarket offering, and through this acquisition, Norditek is expanding its presence in southern Sweden. The knowledge and experience that TePa possesses in the recycling industry’s aftermarket strengthens the Group’s overall offering to customers across the country. The acquisition of TePa also creates an important strategic entry point to a new regional customer base.
Going forward, Norditek will continue to place a strong emphasis on research and development to drive innovation and growth. With the addition of another product developer and the ongoing recruitment of a project engineer, Norditek is strengthening its development efforts in this area. The company is also making a significant investment in a new competence center, Norditek House, which is currently under construction. The facility will include a recycling lab and marks a significant step forward in the development of new solutions in recycling and circular flows.
In order to finance the above marketing initiatives, the Board of Directors of Norditek, acting pursuant to the authorization granted by the Annual General Meeting on January 23, 2025, has resolved to carry out the Private Placement. The net proceeds are intended to be used to finance (a) the acquisition of TePa, (b) investments in research and development, and (c) the development of Norditek House.
About the Investor
Eiffel Investment Group is a Paris-based asset manager founded in 2009 with a global focus on sustainable development. The investor manages approximately €7 billion (2024) and invests through debt, equity, and listed assets. The investor focuses on energy transition, renewable energy, and green infrastructure. The investor’s investment marks the first institutional ownership stake in Norditek. The investor’s objective with this investment is to enable geographic expansion and a continued focus on innovation.
Through the private placement, Norditek is strengthening its shareholder base by bringing on board an international institutional investor, who will thus become Norditek’s first institutional investor.
The Private Placement
The Private Placement comprises 967,826 shares. Eiffel Investment Group is entitled to subscribe for shares in the Private Placement. The subscription price in the Private Placement is SEK 13.8 per share, which corresponds to the volume-weighted average price (VWAP) of the Company’s shares on Nasdaq First North Growth Market over a period of thirty (30) trading days (May 8 – June 23, 2025). The subscription price has been determined through arm’s-length negotiations between Eiffel Investment Group and the Company, in consultation with financial advisors and through analysis of a number of market factors. The Board of Directors therefore assesses that the subscription price is in line with market conditions, taking into account prevailing market conditions. Through the Private Placement, the Company will receive approximately SEK 13.4 million before issuance costs.
To facilitate the execution of the Private Placement, the shares will initially be subscribed for by Nordic Issuing AB, in its capacity as the underwriter, for an amount of SEK 0.1, i.e., corresponding to the par value of the shares, for subsequent transfer to Eiffel at a price per share of SEK 13.8, which will ultimately be credited in full to the Company.
Considerations by the Board of Directors
The Board of Directors has conducted a comprehensive assessment and carefully considered the option of raising the necessary capital through a rights offering instead, but has concluded that, for several reasons, it is in the best interests of the Company and its shareholders to raise capital through the Private Placement. In reaching this conclusion, the Board of Directors took the following factors into account.
- In the current market environment, the conditions for raising capital can change rapidly; therefore, the Company wishes to seize this opportunity to raise capital from a strategic and strong international shareholder in a manner that is beneficial to the Company and its shareholders.
- A private placement provides greater flexibility regarding the timing of the new share issue, thereby minimizing dependence on market conditions, since a rights offering would take longer to execute and entail increased exposure to market risks, as well as the risk of a potential negative impact on the share price.
- A rights offering would likely require underwriting commitments, which would entail additional costs and/or further dilution depending on the compensation paid for such underwriting.
- By directing the offering to a single investor who is prepared to provide immediate liquidity, the Company can quickly and cost-effectively secure the necessary capital.
- A private placement enables the Company to act quickly on the business opportunities presented by the acquisition of TePa.
- A private placement strengthens the Company’s shareholder base by adding a new shareholder, which is considered to have significant strategic value for the Company.
The Board’s overall assessment is therefore that there are compelling reasons to deviate from the general rule regarding preemptive rights for existing shareholders and that the Private Placement, taken as a whole, contributes to creating value for all of the Company’s shareholders.
Number of shares, share capital, and dilution
As a result of the Private Placement, the number of shares in the Company will increase by 967,826, from 12,637,727 to 13,605,553. The share capital will increase by 96,782.6, from SEK 1,263,772.7 to SEK 1,360,555.3. The new share issue corresponds to a dilution of approximately 7.96% of the number of shares and votes in the Company, based on the total number of shares in the Company following the Directed New Share Issue.
Advisers
Sedermera Corporate Finance AB is acting as sole bookrunner, and the law firm Delphi is serving as legal counsel to the Company in connection with the private placement. Nordic Issuing is the underwriter.
For further information, please contact
Daniel Carlberg, President and CEO, Norditek Group AB, +46 702 19 04 91
Göran Nordlund, Chairman, Norditek Group AB, +46 704 33 13 20
15 Förrådsvägen, 918 31 Sävar
www.norditek.se
About Norditek Group AB
Norditek Group AB is a leading company in sustainability and recycling, specializing in providing machinery and solutions for efficient material handling in the recycling industry. The company offers innovative systems for sorting, crushing, and separation, helping customers optimize resource use and reduce their environmental impact. Norditek was founded in 1998 and operates throughout the Nordic region with a strong presence in the European market. Through its focus on sustainable technology and customized solutions, the company is a key partner for businesses striving toward a circular economy.
This information is information that Norditek is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication by the contact person listed above on June 24, 2025, at 5:32 p.m. CEST.
The shares in Norditek Group AB are traded on Nasdaq First North Growth Market. Certified Adviser is Partner Fondkommission AB with e-mail address info@partnerfk.se and telephone number +46 31 761 22 30.
Important information
The publication, release, or distribution of this press release may be subject to legal restrictions in certain jurisdictions, and persons in jurisdictions where this press release has been published or distributed should familiarize themselves with and comply with such legal restrictions. The recipient of this press release is responsible for using this press release and the information contained herein in accordance with applicable rules in their respective jurisdiction. This press release does not constitute an offer to, or a solicitation of, the purchase or subscription of any securities in Norditek in any jurisdiction, either from Norditek or from any other party. This press release is not a prospectus within the meaning of Regulation (EU) 2017/1129 (“the Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. This press release does not constitute an offer or invitation to acquire or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States without registration, or without the application of an exemption from registration, under the U.S. Securities Act of 1933 (“Securities Act”), and may not be offered or sold in the United States unless they are registered, covered by an exemption from, or in a transaction not subject to the registration requirements of the Securities Act. There is no intention to register any securities mentioned herein in the United States or to make a public offering of such securities in the United States. The information in this press release may not be disclosed, published, copied, reproduced, or distributed, directly or indirectly, in whole or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States, or any other jurisdiction where such disclosure, publication, or distribution of this information would be contrary to applicable regulations or where such action is subject to legal restrictions or would require additional registration or other measures beyond those required under Swedish law. Actions contrary to these instructions may constitute a violation of applicable securities laws.
Forward-looking statements
This press release contains forward-looking statements regarding the Company’s intentions, assessments, or expectations concerning the Company’s future results, financial position, liquidity, development, outlook, expected growth, strategies, and opportunities, as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the use of terms such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “will,” “may,” “assumes,” “should,” “could,” and, in any case, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no guarantee that they will materialize or that they are correct. Since these assumptions are based on estimates and are subject to risks and uncertainties, the actual results or outcomes may, for many different reasons, differ materially from what is stated in the forward-looking statements. Such risks, uncertainties, contingencies, and other material factors may cause actual events to differ materially from the expectations expressly or implicitly stated in this press release through the forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are correct, and readers of this press release should not unduly rely on the forward-looking statements contained herein. The information, views, and forward-looking statements expressly or impliedly contained herein are provided only as of the date of this press release and are subject to change. Neither the Company nor any other party undertakes to review, update, confirm, or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise regarding the content of this press release, unless required by law or the Nasdaq First North Growth Market Rulebook.