Investment criteria

All company challenges are different, which is why our investment criteria serve as guidelines – complexity in situations is Lazarus’ strength.

Industry

All industries, with exceptions for research companies and start-ups that has never demonstrated operational profitability.

Situations

We have few limitations; examples of situations where we can be a part of a solution include liquidity shortage, breaches of loan covenants, spin-offs and carve-outs from larger corporations, generational transitions, etc. We prefer bilateral processes, where we can offer the seller or creditors the highest possible confidentiality and certainty of closure.

Breaches of loan conditions
Liquidity shortage
Spin-offs / Carve-outs
Generational transitions
Development needs
Business transformations

Geography

We work with companies with a Nordic connection, and prefer companies headquartered in Sweden.

Shareholding

No formal restrictions. However, we only invest in companies where we obtain a significant ownership influence or control.

Viability

The target company must have a healthy core business (often demonstrated by profitability at earlier stages) but is currently operating well below its potential.

Turnover and profitability

Target companies typically have an annual turnover of 200 million SEK and above, with a currently weak or negative profitability but with clear potential for improvements (exceptions are possible).

Instruments

We work with the entire balance sheet and can acquire shares, receivables, assets or other financial instruments.