Private debt investment in Carolinas Matkasse AB in Sweden

Armada Mezzanine Fund IV has provided financing in support of the primary LBO of Carolinas Matkasse AB (the “Company” or the “Target”) by Herkules Private Equity Fund IV. The Company is a European leader in the dinner bag market.

The Company (www.linasmatkasse.se) was established in Sweden in 2008 by the siblings, Niklas Aronsson and Lina Gebäck, who are still large shareholders in the company. Linas Matkasse is the European market leader in subscription based grocery online delivered to customer’s door step, and has annual sales in excess of SEK 1bn and more than two million distributed meals per month. Linas Matkasse has shown strong sales and profit growth since the start in Sweden in 2008 and over the past years the Company has also established in Norway and most recently in the Netherlands. All three local brand names have a similar personlised strategy and include Linas Matkasse (SE), Adams Matkasse (NO) and Mathijs Maaltijdbox (NL). Herkules will support the company with further expansion in both existing and new markets.

“It is a very interesting opportunity for Armada to participate in this transaction and we have great confidence in both management and the Herkules team, which we know from earlier investments. The investment fits well in our portfolio due to the Company’s market leading position, attractive business model and strong underlying market drivers”, says Jan Wiklund, Co-Managing Partner at Armada.

For more information, please contact:
Jan Wiklund tel. +46 70 551 4054 or Johan Svensson +46 70 360 6553 at Armada, Stockholm branch.