Lakers

Vestum agreed to sell a portfolio of 20 operating companies from its Water segment, formerly part of Lakers Group, to Equip Capital for SEK 326.5 million on a cash and debt-free basis, with closing expected in Q2 2023.

Vestum is acquiring Lakers Group, a Norwegian water and wastewater company focused on pump technology and aftermarket services with about 400 employees and NOK 1.2 billion in revenue. The deal is expected to lift Vestum's revenue and profit by about 50 percent.

Lakers Group completed a NOK 200 million tap issue under its existing senior secured sustainability-linked bond to part-finance the Norsk Pumpeservice acquisition.

Lakers Group signed a share purchase agreement to acquire Norsk Pumpeservice AS, a Norwegian aftermarket service and pump provider based in Fetsund near Oslo. The deal is expected to close in August 2021; the price was not disclosed.

Norwegian pump specialist Lakers AS has acquired Pump Supplies Ltd, the UK's largest electric submersible pump hire fleet operator and leading Flygt distributor, for an undisclosed sum, expanding Lakers into the UK market.

Summa Equity has signed an agreement to acquire Lakers Holding AB, a Nordic group servicing pumps, pumping stations and electrical motors across Norway, Sweden and Denmark. Completion is subject to regulatory approval and expected in October 2018.