Author: <span>marketing@linclund.com</span>
Equity Research / R&A Reports

Driven Brands

In this pitch deck, analysts Linus Öberg, Filip Berg, and Axel Andersson deliver a comprehensive analysis of Driven Brands. The company is the largest comprehensive
automotive service platform in the U.S. with well-renowned brands.

Equity Research / R&A Reports

Vistry Group

In this pitch deck, analysts Samuel Ullmann, Svante Jansson and Fredrik Lyrvall deliver an in-depth
analysis of Vistry Group PLC (“Vistry”), the leading provider of affordable mixed tenure homes in the
UK. With the recent transition into a full-on capital-light partnerships model, Vistry is set to release
and distribute upwards of GBP 1bn in tied up capital while also achieving an estimated return on
invested capital of 43.5% in 2026E. Due to the transition not yet being fully priced in and Vistry
continued to be valued on book value, the analysts derive a target price of 2,502 GBX, equivalent to an
upside of 107.7% or a five-year ARR of 24.3%.

M&A / R&A Reports

Matas Group

In this pitch deck, analysts Axel Grahn and Gent Kita Elezi deliver a thorough analysis of Matas Group, the Nordic leader in health and beauty, emphasising its brand assortment
expansion, financial health and potential market growth. By utilising various valuation methods such as DCF and LBO models, the analysts derive a target valuation range of DKK
6,500 – 8,700m. The following section includes a selection of assumptions underpinning this
valuation, and highlights some of the insights from which the investment considerations were made.

M&A / R&A Reports

Bahnhof

In this presentation, analysts Wictor Bodelind and Gustaf Tamm present an in-depth financial
analysis of Bahnhof AB, Sweden’s fastest growing telecom operator, positioning it as a
compelling target for potential transactions. Leveraging multiple valuation methodologies, a
preliminary assessment indicates an enterprise value in the range of SEK 4,750 – 5,600m. A
robust investment opportunity expected to appeal to a wide range of strategic investors and
financial sponsors.

M&A / R&A Reports

Fenix Outdoor

In this pitch deck, analysts Caroline Danielsson and Samuel Arctaedius deliver a
comprehensive analysis of Fenix Outdoor, a leading international group of outdoor brands
and proprietor of Sweden’s most sustainable brand for the fourth consecutive year,
emphasizing its business model, market position, and financial health. Utilizing various
valuation methods such as DCF and LBO models, the analysts derive a target valuation of
EUR 950 – 1400m. The following section includes a selection of assumptions underpinning
this valuation, and highlights some of the insights from which Fenix Outdoor proves to be a
strong acquisition candidate.