The end date is now on the calendar. Nasdaq Stockholm on July 27 approved Nilörngruppen’s application for delisting and set August 10, 2026 as the last day of trading in the Borås label group’s B-share. When the closing auction ends that Monday, one of the textile industry’s longer-running Swedish public-market stories goes private — and with it, the listed-company chapter of Nilörn Portugal’s label factory in Recarei, Paredes, Swedish-owned since 1999.
The approval is the administrative final step of a takeover this publication has tracked since spring. Trimco Group (UK) Limited launched its SEK 77-per-share cash offer on May 4, declared it unconditional on July 13 having passed 90 percent of shares and votes, and on July 22 initiated compulsory redemption of the remaining shares under the Swedish Companies Act. The board applied for delisting the same day and convened an extraordinary general meeting for August 18 at 14:00 in Stockholm, where Trimco’s nominees are set to take the board.
What changes on August 10
For remaining minority shareholders, August 10 is the last day the B-share can be sold over the exchange; after that, exit runs through the compulsory-redemption process, in which an arbitration procedure determines the price for the shares Trimco does not yet own. For the company, the reporting cadence of a Nasdaq Stockholm listing — the quarterly interims through which the market, and this publication, have read the group’s Portuguese operation for years — gives way to the disclosure schedule of a privately held subsidiary. CEO Krister Magnusson remains the group’s public contact through the transition.
The Recarei angle
Nilörn’s Portuguese unit in Recarei, Paredes — part of the group since 1999, with around €12 million in revenue in 2024 — is one of the corridor’s quiet industrial fixtures: labels, packaging and accessories for the fashion and apparel industry, produced in the Porto district’s textile heartland and sold into brand supply chains across Europe. The group operates its own companies in eighteen countries, from Sweden and Denmark to Bangladesh and Vietnam, and Portugal has consistently ranked among its production anchors as brands shorten supply chains into Europe.
Under Trimco — the Hong Kong-rooted, Brookfield-backed trim and labelling group — Recarei becomes part of a substantially larger global production footprint. The industrial logic that made the plant valuable to a Borås mid-cap applies at least as strongly to a global consolidator: European brands under proximity pressure need European labelling capacity, and Portugal is where much of it lives.
Why it matters for the corridor
The delisting removes another Portuguese industrial operation from the visibility of a Nordic public market — a pattern 2026 has repeated across the exchanges as take-privates thin the ranks of listed mid-caps. For the corridor scoreboard, the substance is unchanged: the Swedish-built connection between Borås and Paredes continues, but its ownership now runs through London and Hong Kong rather than the Stockholm bourse. What NorthSouth HQ will watch is whether Trimco invests in Recarei’s capacity — the plant’s European positioning was a stated attraction of the deal — and what the August 18 EGM signals about the group’s structure.
What to watch next. The EGM on August 18 at KANTER Advokatbyrå in Stockholm; completion of the compulsory-redemption process; and any integration announcements affecting the Portuguese unit. For background, see the Nilörn Portugal profile in our Nordics → Portugal directory.