TERMS & Conditions RELATING TO GONORTH.CO

Introduction

These terms and conditions (the “Terms”) govern the Go North services (i.e., the Service) and the use of our website http://www.gonorth.co (the “Website”).

The Terms apply between us, Go North Group AB, a company duly organized under the laws of Sweden with company reg. no 559252-2188 (“we” or “Go North”), and such natural or legal person (“you” or the “User”) who has accepted to be bound by them and has the right to do so (whereupon Go North and the User shall be deemed to have entered into the “Agreement” consisting of the Terms and the User’s acceptance of them). The User and Go North are collectively referred to as the “Parties” and individually as a “Party”.

Users who are natural persons warrant, by accepting the Terms, that they are at least 18 years old and has the legal right to enter into the Agreement. A natural person accepting the Terms on behalf of a User who is a legal person, warrants, in connection therewith, that such person has the legal right to do so, and should this nevertheless not be the case, such person shall be personally liable for its undertakings hereunder.

The Service and the Website

We are an ecommerce aggregator, and our business mainly consists of the purchasing of businesses and brands, either through a share transfer or an asset transfer (in the Terms, such part of our business, as offered from time to time, is referred to as the “Service”). Our business also consists of the offering of goods for sale, mainly through Amazon, however such part of our business is hereby explicitly excluded from the scope of the Terms (but is governed by separate terms).
Subject to Clause 2.1, any service directly provided or offered as part of the Service as described above, shall be included in the definition of the “Service” unless the context clearly indicates otherwise. This means, for example that our work with assessing, evaluating, and purchasing businesses is part of the “Service”.
The Service is provided through the Website and through other ways of communication such as by mail, phone, and physical meetings.
For the avoidance of doubt, we may hire subcontractors for the provision of the Service or parts thereof (whose actions we will be entirely responsible for).

Use of the Service

Should the Parties agree that we shall evaluate your business for the purpose of a potential purchase of your business or a part thereof (upon your request or following us approaching you) (a “DD Process”), you agree and acknowledge that we have no obligation to complete such DD Process and we shall have the right to terminate the DD Process at any time. Neither, we shall have any obligation to proceed with any agreement on a transaction or relationship concerning your business.
Before commencing a DD Process, the Parties may agree to enter into a term sheet/letter of intent. To the extent such term sheet/letter of intent differs from the provisions set forth in the Agreement, the provisions of such term sheet/letter of intent shall take precedence.

Confidentiality

For the purposes of the DD Process, the Parties might disclose to each other certain confidential or other sensitive information (whether written or oral and irrespective of form, referred to as “Confidential Information”). Information about the existence of the Agreement as well as the fact that the Parties have entered discussions relating to your business and the Service also constitute “Confidential Information”.
Notwithstanding the provisions of Clause 4.1, information which i) at the date of its disclosure is in the public domain or at any time thereafter comes into the public domain, other than by breach of the Terms or another confidentiality undertaking; or ii) the receiving Party can evidence was in its possession or was independently developed at the time of disclosure and was not obtained, directly or indirectly, by or as a result of breach of the Terms or another confidentiality undertaking, shall not be deemed to be “Confidential Information”.
Confidential Information may be used for the purpose of the DD Process only and may not be disclosed by the receiving Party to any third party but only to such Party’s Representatives on a need-to-know basis, provided that such Representative (as defined below) is bound by a confidentiality undertaking covering the relevant information. This confidentiality undertaking shall apply during the term of the Agreement and for two years thereafter. Notwithstanding anything to the contrary set forth herein, a Party may disclose confidential information to the extent required by law or regulation, or a decision of a court or competent authority.
The term “Representative” shall, when used herein, refer to a Party’s employees, officers, directors, direct or indirect shareholders, and legal and financial advisors.
Should the Parties enter into a separate confidentiality agreement, and to the extent such confidentiality agreement differs from the provisions set forth in this Section 4, the provisions of such confidentiality agreement shall take precedence.

ual property rights

All intellectual property rights relating to the Service and the Website, and all information contained therein (such as but not exclusively copyright (including source code), trademarks and designs) (“Intellectual Property Rights”) constitute the exclusive property of ours, our subcontractors or a third party. The Agreement does not imply that any rights to Intellectual Property Rights are transferred.

n of liability

To the fullest extent permitted by law, the Service is provided on an “as is” basis, without any guarantees of any kind, whether explicit or implied,
We can never be held liable for indirect or consequential damages, including but not limited to, loss of profit, suffered by you as a result of this Agreement.
The Website may contain links to websites and resources provided by third parties. These links are provided for your convenience only, and you acknowledge that we have no control over the content of such third-party websites or resources, and therefore accept no responsibility for them or any loss or damage that way arise from your use of them. If you decide to access any such third-party websites or resources, you do so entirely at your own risk and subject to the terms and conditions for such websites.
The limitation of liability provisions under the Agreement do not apply to the extent we have acted intentionally or through gross negligence, and only to the extent permitted by appliable law.

termination

The Agreement enters into force upon your acceptance of the Terms, subject to Clause 1.2, and shall apply at any time you visit our Website and/or use our Service.
The termination of the Agreement shall not affect any rights and obligations that has arisen prior to termination. Regardless of the termination of the Agreement, the Terms shall, where applicable, for instance as regards confidentiality (Section 4) and law and disputes (Section 9), continue to apply during the period explicitly set forth herein or with otherwise is necessary for the Parties’ intention when entering into the Agreement.

neous

Substitution: If a provision of the Terms shall be deemed invalid, this shall not result in the entire Agreement shall be deemed invalid. Instead, an appropriate adjustment of the Terms shall be made to, to the fullest extent possible, achieve the intended purpose.

Applicable law

Changes and additions: Changes and additions to this Agreement must be made in writing and duly signed by both Parties.
This Agreement shall be governed and interpreted in accordance with Swedish law (however not including conflict of law provisions).

Go North

Newly launched Go North has set its sights on acquiring a new brand per week – and accelerate its business on Amazon. Now they’ve closed their seed round with SEK 77.5 million in funding from eEquity and Lena Apler (Collector Bank), amongst others.

He is the CEO and founder of the Gothenburg-based company Go North, which according to his own statement is Sweden’s first FBA aggregator. Despite the fact that the company only started operations as late as December 2021, it has already managed to gather 11 brands in its portfolio—which is in line with the previously set goal of acquiring a new company each week. The portfolio includes companies from Israel, Great Britain and Estonia, in categories such as Sports & Outdoor, DIY, and Kitchen Equipment.

“My ambition is to build a company with endless growth-potential. There should be no restrictions. Amazon is the right platform for that”, says Johan Hallenby.

Go North’s latest SEK 77.5 million funding round enables them to continue its aggressive acquisition strategy. The round was led by the venture capital firm eEquity, and also included investors such as Collector founder Lena Apler, Na-kd’s Chairman and majority-owner Magnus Emilson, e-commerce entrepreneur Alexander Hars, William and Kim Olsson from the Stena family, and Toca Boca veteran Caroline Ingeborn.

With the support of their new funding, Go North is looking for both Swedish and foreign companies to buy. And as they do, they prepare for further cash injections. The goal is to raise several hundred million SEK in debt financing before the summer.

If the acquisition rate stays the same, the revenue for their first financial year will land north of SEK 100 million. Within three years’ time, the goal is to have increased tenfold and for the company to have achieved good profitability.

“Our ambition is to become Europe’s next ‘unicorn”, says Johan Hallenby.

Read the Article

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In January, E-handel wrote about Go North – a company founded, as recently as December last year in Gothenburg, by the entrepreneur Johan Hallenby.

He has started a so-called Amazon aggregator. It’s a company that buys the assets of profitable e-commerce brands on Amazon, where Amazon handles fulfillment. Go North does not buy the entire company, but for example their products in stock and Amazon presence.

The aggregator aims to make the companies they buy even more profitable on the giant, American platform. When Go North is looking for companies, however, they are looking for brands with a couple of years of positive history and solid growth.

“Many entrepreneurs have done a really good job with their brands, but realized that they may not get to the next level without more funding and access to a world-class operational e-commerce team. And this is where we come into the picture”, Johan Hallenby told Ehandel in mid-January this year.

NA-KD profile included in the round.

Go North has now announced that they’ve raised 77.5 million in venture capital. The round was led by the venture capital firm eEquity, and other investors include Collector founder Lena Apler, NA-KD’s chairman of the board and profile Magnus Emilson – and e-commerce entrepreneur Alexander Hars, according to Di Digital.

“The market is insanely hot right now and we have over 200,000 potential brands that meet our criterias”, says Johan Hallenby to Di Digital.

So far, he has amassed eleven brands in his portfolio, which is in line with the goal of buying a new brand every week. So far, these include Amazon retailers from Israel, Great Britain and Estonia, selling everything from sports and outdoor items, to DIY brands and kitchen equipment, according to Di Digital.

The goal for Go North is to reach a 100 million in revenue by the end of the year. In three years’ time, the aim is for it to have increased tenfold – and for the company to have reached profitability, according to Johan Hallenby.

Read the Article

Go Back

Amazon’s incredible success is partly driven by third-party sellers, and the idea of aggregating these smaller brands under an operational umbrella to increase profitability has shown great success. Today, Go North Group AB (publ), a leading e-commerce aggregator operated by Amazon FBA entrepreneurs, has successfully issued senior secured floating rate bonds in an amount of SEK 225,000,000 under a framework of up to SEK 280,000,000 with ISIN SE0018040867. The bonds were issued at a price of 100 per cent. of the nominal amount and are due in July 2025. The transaction was well received by the market, as evidenced by a strong demand despite severe market conditions. Altogether over 30 investors participated in the issue and attracted significant demand from the US and Continental Europe. The funding comes shortly after the previously announced SEK 77,500,000 equity round in April 2022 lead by eEquity.

Go North Group AB (publ) have in just a few months built a portfolio of 15 brands, with impressive post-acquisition growth (YoY), built a team of +20 people and plan to acquire 12 new identified brands to continue to grow both revenues and profits for the group. The proceeds from the bond issue will be used to, inter alia, finance general corporate purposes of the Group, including investments and acquisitions.

Pareto Securities AB acted as sole arranger and bookrunner in connection with the bond issue.

Bird & Bird acted as legal counsel to Go North Group AB (publ) and Roschier acted as legal counsel to Pareto Securities AB.

“Completion of the bond debt raise means we will strengthen our position as the leading FBA aggregator in Northern Europe, acquiring and scaling fast-growing brands on the Amazon Marketplace globally. Since the first acquisition, six months ago we are now 15 brands in the group with great organic post-acquisition growth, have a huge M&A pipeline and we have built a world class team. The next big step will be to raise our next equity round in Q3-22” says Johan Hallenby, CEO/Founder Go North.

“With this financing solution in place, Go North achieves an efficient and flexible balance sheet and becomes geared to expand its business going forward. Obtaining bond financing during such poor market conditions on short time reflects the great trust in Go North and its owners. This empowers our management team to continue developing and positioning Go North as a leading FBA aggregator “ says Magnus Wiberg, Managing Partner at eEquity.

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