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July 5, 2021

Verdane exits Swedish MM Sports to CapMan at 10x expected EBITDA

Press Release / NKP | M&A Insights proprietary
In March 2021, NKP exclusively reported how the Norwegian PE-fund Verdane had mandated Clearwater International for a sale of its Swedish portfolio company MM Sports. It has now been announced that the Finnish PE-firm CapMan has through its fund CapMan Buyout XI acquired a majority stake in the sports nutrition, supplements, and equipment company MM Sports from Verdane for an undisclosed amount. MM Sports' offering consists of sports nutrition, supplements, gym wear, gym equipment and accessories and the company sells mostly through its own e-commerce platform. The company reported a revenue of SEK 230.7m (+19.9% YoY) with an EBITDA of 14.2m in 2020. Post-edit: "For the 2021 acquisition of MM Sports, according to NKP | M&A Insights' proprietary sources, Capman paid an enterprise value of SEK 280m, while MM Sports ended up reporting 2021 full year EBITDA of SEK 28m, thus corresponding to an entry EV/EBITDA (2021E) of around 10x (the transaction was announced in July, 2021, so we assume
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Transaction announcement

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
March 15, 2021

Verdane Capital mandates Clearwater International for a sale of its Swedish portfolio company MM Sports (NKP Proprietary)

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
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