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Carlsquare supported Candles Scandinavia in the IPO

Prior to its listing on Nasdaq First North, the subscription period of Candles Scandinavia´s new issuing was concluded during the final days of October. The IPO was heavily subscribed to 254 percent, thus an oversubscription of 154 percent. Carlsquare was the financial partner in the IPO, and will celebrate on November 8th when Candles Scandinavia will ring the Nasdaq bell.

Viktor Garmiani, CEO of Candles Scandinavia AB, commented: “It’s a fantastic feeling to see such strong interest from investors in our company. With the capital raised and the upcoming listing, we can increase our production capacity and build an even stronger platform for growth. The IPO has not only given Candles Scandinavia direct capital market access but also created more visibility and credibility towards our stakeholders.”

Candles Scandinavia AB is a large-scale producer of scented candles made of 100 percent biodegradable, plant-based candle wax. The company offers a sustainable alternative to paraffin wax, which is derived from fossil fuels. Candles Scandinavia targets retail chains and fashion, beauty, and home furnishing brands, such as Rituals, H&M, Lyko, Åhlens and many more, offering a private label solution. Candles Scandinavia is now taking the next step by expanding its production of private label products, which all takes place on the company´s premises in Sweden. Demand and order intake are growing steadily as more customers are becoming aware of the negative impact of paraffin, and that there is now a large-scale producer offering a sustainable alternative.

Paraffin is the most common raw material used in the production of scented candles. However, paraffin wax is produced from the fossil fuel oil, and has therefore been criticized for its negative impact on the climate, environment, and health. Hence, it may seem remarkable that the transition from paraffin wax to more sustainable alternatives has not progressed further. Yet, this is because paraffin is very durable, easy to handle, can withstand rapid temperature changes, and is cost-effective to produce.

Alongside its sustainable candles, Candles Scandinavia´s other revenue streams stem from the company´s additional segments, Brands and Home Party. Brands involves the exclusive distribution rights of both Yankee Candle and WoodWick in the Nordics, whilst Home Party is based on multi-level marketing of the company´s own scented candles.

“Candles Scandinavia is a true growth case with fantastic entrepreneurial inbuilt DNA, so we are happy to be part of the process. For Carlsquare this is another sign that we are not just a leader in M&A but are delivering on our goals in ECM”, says Caroline Berglund, Head of Equity Sales at Carlsquare.

Carlsquare AB is the financial partner in the IPO of Candles Scandinavia.

Alongside, Nordic Issuing acts as project manager and an issuing institution, Baker & McKenzie is a legal advisor to Candles Scandinavia in connection with the rights issue, and Amudova Ab has been appointed the Company´s Certified Advisor.

  • Candles Scandinavia:

Contacts

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Anders Elgemyr

Managing Partner

Telephone: +46 70 496 18 15

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Caroline Berglund

Head of Equity Sales

Telephone: +46 73 382 10 82

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Oskar Wollert

Vice President

Telephone: +46 761 71 11 60

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Team

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Jessica Algner

Assistant

Telephone: +49 30 809 33 47-12

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Polina Amini

Senior Associate

Telephone: +49 40 300 836-14

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Jonatan Andersson

Equity Analyst

Telephone: +46 70 508 00 51

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Markus Augustsson

Head of Equity Research

Telephone: +46 76 235 03 20

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Agata Barsallo

Office Management & Accounting

Telephone: +44 20 8017 6020

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Caroline Berglund

Head of Equity Sales

Telephone: +46 73 382 10 82

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Anders Bo

Managing Partner

Telephone: +45 4199 8252

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Ulf Boberg

Senior Advisor Life Sciences

Telephone: +46 73 312 44 90

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Manfred Drax

Partner

Telephone: +49 89 255 49 53-15

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Anders Elgemyr

Managing Partner

Telephone: +46 70 496 18 15

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Niklas Elmhammer

Senior Equity Analyst

Telephone: +46 70 898 39 59

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Sebastian Fischer

Director

Telephone: +49 89 255 49 53-12

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Daniel Garlipp

Managing Partner

Telephone: +49 40 300 836-19

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Philip Goldhahn

Vice President

Telephone: +49 40 300 836-21

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Thorsten Grandt

Vice President

Telephone: +49 30 809 33 47-20

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Johan Heigard

Vice President

Telephone: +46 70 246 99 88

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Caroline Heintz

Senior Associate

Telephone: +46 707 40 68 58

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Maurice Hinrichs

Associate

Telephone: +49 40 300 836-20

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Arnold Holle

Managing Partner

Telephone: +44 20 80176020

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Lars Johansen

IT&Telecom Expert

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Elaine Kelly

Head of Marketing

Telephone: +49 40 300 836 18

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Anna-Lena Kickbusch

Office Management & Accounting

Telephone: +49 40 300 836 10

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Morten Kjærulff

Partner

Telephone: +45 2634 9031

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Mischa Krause

Director

Telephone: +49 40 300 836-24

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Steffen Leckert

Managing Partner

Telephone: +49 89 255 49 53 26

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Malve Liebig

Senior Associate

Telephone: +49 89 255 49 53-18

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Erik Lundberg

Partner

Telephone: +46 73 850 35 59

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Eva Macha

Office Management & PA to Michael Moritz

Telephone: +49 30 809 33 47-10

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Mandy May

Head of Operations

Telephone: +49 30 809 33 47 16

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Mirja Meyer

Office Management & Accounting

Telephone: +49 40 300 836 10

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Mark Miller

Managing Partner

Telephone: +49 40 300 836-11

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Michael Moritz

Managing Partner

Telephone: +49 30 809 33 47-13

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Bertil Nilsson

Senior Equity Analyst

Telephone: +46 70 434 90 03

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Flemming C. Pedersen

Managing Partner

Telephone: +45 4199 8251

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Anika Schaefer

Office Management & HR

Telephone: +49 89 255 495 310

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Alexander Schleppegrel

Associate

Telephone: +45 2621 0543

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Nico Schmidt-Weidemann

Managing Partner

Telephone: +49 89 255 49 53-17

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Caspar Graf Stauffenberg

Managing Partner

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Jon Tingling

Vice President

Telephone: +44 77 1347-8286

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Sybille de Vegvar

Business Development

Telephone: +44 20 8017 6017

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Oskar Wollert

Vice President

Telephone: +46 761 71 11 60

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Jan-Frederik Zapp

Associate

Telephone: +49 30 8093347-31

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Nils Zettelmeyer

Director

Telephone: +49 30 809 33 47-25

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Andreas Zetzsche

Partner

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Marta Zientarski

Vice President

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