Litorina buys Leo’s Lekland

The deal saw the Swedish GP take over the 65.5% stake held by KFI Kapital, the investment arm of cooperative federation Kooperativa Förbundet. The management team of Leo's Lekland and its founder will retain the remaining shares in the company.

A mezzanine PIK loan and equity co-investment were provided by Beechbrook Capital through its Mezzanine II fund.

The investment will help finance further expansion for the company by opening new play centres across the Nordic region, as well as developing its operations and concept.

KFI's divestment comes as part of a broad restructuring and streamlining strategy for Kooperativa Förbundet. KFI first invested in Leo's Lekland in July 2010.

Company
Leo's Lekland was founded in 2006 by Jonas Rönnqvist and the company's current CEO, Joakim Gunler.

Based in Luleå, the company builds and operates children's play and activity centres in Sweden, Norway and Denmark.

Revenues are expected to be around SEK 250m for the 2014 financial year.

Currently operating 23 centres, the business plans to open three more in Denmark by the end of Q1 2015.

People
Lars Verneholt is a partner at Litorina, while Joakim Gunler is the CEO of Leo's Lekland.

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• Topics
• Nordics
• Buyouts
• Consumer
• Sweden
• Litorina