Litorina-backed Fractal Gaming Group to list

The offering will involve majority owner Litorina selling its existing shares alongside a few other shareholders. The intention to list comes four years after the GP acquired the company via its fourth fund.

The company's chairman of the board, Magnus Yngen, called the listing "a logical and important step in the company's development".

The company aims to achieve annual organic growth in net sales of above 10% from 2022, and adjusted EBITDA margin of 20%, and pay out 30-50% of its net earnings in dividends. 

Company
Founded in 2010 and based in Gothenburg, Fractal is a manufacturer of PC gaming products. Its products are sold in more than 50 markets globally. It has additional offices in Dallas (US), Dongguan (China) and Taipei (Taiwan).

In 2020, Fractal reported net sales of SEK 636m (€62m) and adjusted EBITDA of SEK 139m, which corresponds to an adjusted EBITDA margin of 21.8%. It has 69 full-time employees. 

People
Litorina – Gustav Thott (partner). 
Fractal Gaming Group – Hannes Wallin (CEO, founder); Magnus Yngen (chairman of the board).

Advisers
Company – Carnegie (sole global coordinator, joint bookrunner); ABG Sundal Collier (joint bookrunner); Sundling Wärn Partners (financial due diligence); Vinge (legal)

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