Carlyle provides strategic capital for Jordanes

Oslo, Norway, 06 January 2025 - Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a strategic capital package of NOK 2,750 million ($250 million) to Jordanes ASA ("Jordanes"), one of Norway's leading brand houses. The financing will be used to finance a management buyout of Jordanes, led by co-founders Jan Bodd and Stig Sunde, as well as refinance the company's existing indebtedness and fund its future growth.

Jordanes is an established Scandinavian brand house, focused on everyday products and services, with a diverse portfolio including more than 20 brands, spanning across foods, fitness and beauty, casual dining, as well as international brands. Since its inception in 2007, the company has continued to expand its portfolio to include iconic regional brands such as Sørlandschips, Synnøve, Peppes Pizza and Bodylab.

This strategic investment, led by Carlyle Credit Opportunities, will further consolidate the ownership of Jordanes' co-founders, strengthen the company's financial foundation by refinancing and extending certain existing indebtedness, and provide additional growth capital to accelerate Jordanes' ongoing expansion through both organic growth and M&A.

Taj Sidhu, Head of European and Asian Private Credit at Carlyle, said: "We are delighted to provide this strategic capital package to Jordanes, and support the company's ambition to continue expanding its well-diversified suite of iconic Nordic brands, which benefit from high levels of brand loyalty among its regional customer base. The transaction demonstrates our ability to provide flexible capital solutions for strong entrepreneur-owned businesses to accelerate their growth trajectory."

Jan Bodd and Stig Sunde, Co-founders of Jordanes, said: "We are grateful for the support of Carlyle, which enables Jordanes to continue driving growth through its unique consumer offering and diversified portfolio of "local champion" brands. This transaction marks a significant milestone in Jordanes' growth journey."

This transaction follows the final close of the third Carlyle Credit Opportunities Fund ("CCOF III") in December 2024, with $7.1billion in investable capital.

Carlyle's Global Credit platform manages $194 billion in assets under management, as of September 30, 2024. It regularly pursues investments in privately negotiated debt and capital solutions partnering with high-quality sponsors and leading family or entrepreneur-owned companies.

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About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $447 billion of assets under management as of September 30, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About Jordanes

Jordanes was founded in 2007 by Jan Bodd and Stig Sunde and is today an established Scandinavian brand house focusing on everyday products and services. Jordanes owns and operates a diverse portfolio of iconic brands, including Synnøve, Sørlandschips, Peppes Pizza, Bodylab, and Backstube. In 2023, the Group had Revenue of NOK 6,466 million, approximately 2,700 employees, and 9 factories across Scandinavia.

Media contacts:

Carlyle:

Charlie Bristow

Tel: +44 (0) 7384 513568

Email: [email protected]

Jordanes:

Nikolai Steinfjell (CFO)

Tel: +47 975 44 712

Email: [email protected]

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