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August 19, 2025
European PE investor Astorg acquires majority stake in German insurance broker buy-and-build platform Attikon from its founders
Press Release
June 10, 2025

Amid ongoing market consolidation, Macquarie Capital is preparing to launch a potential sale in H2-2025 of its portfolio firm Attikon Finanz—a founder-led, B2B-focused insurance brokerage platform pursuing a buy-and-build strategy with 2025E EBITDA of 20m, Macquarie advising - acc. to multiple sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 19, 2025
Wingmen Solutions acquires 51% majority stake in Trifork Security, a Danish subsidiary of Swiss-based Trifork Group (publ.)
Press Release
December 2, 2024

Discussions with potential investors are ongoing in connection with Trifork’s (publ.) efforts to bring in a co-owner for its managed security services (MSS) business through a capital raise, acc. to several sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 18, 2025
Clinical-stage biotech company Anocca raises SEK 440m to support its lead therapy
Press Release
January 22, 2024

Swedish therapeutic biotechnology company Anocca is preparing for a Series C funding round with a ticket size of at least SEK 800m - advisors were recently appointed, with the process expected to close after the summer 2024 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 15, 2025
Aspo to divest its Leipurin division, focused on ingredients and expert services for food markets, to Lantmännen for EUR 63m
Press Release
July 1, 2025

Update: Finnish industrial conglomerate Aspo has mandated Danske Bank Corporate Finance to prepare ESL Shipping, its carrier of dry bulk cargo, for a possible separation with both a separate listing and an M&A sale being considered, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 15, 2025
Dansk Generationsskifte brings in Impact Partners as a minority investor in Carelink, Denmark's largest welfare services group
Press Release
May 17, 2025

Carelink, a private healthcare group owned by Dansk Generationsskifte, delivers revenue of DKK 1,732m with EBITDA of DKK 167m in FY22 - EY Corporate Finance engaged ahead of a planned process, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 15, 2025
Valedo divests Lakrids by Bülow, the premium chocolate-covered licorice brand, to IDG Capital
Press Release
January 17, 2025

Update: IMs are on the doorstep in the Carnegie-advised sale process for Valedo Partners-owned Lakrids by Bülow, according to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 21, 2024

Valedo Partners has reportedly engaged Carnegie to explore a renewed exit for Lakrids by Bülow, a premium licorice brand, with expected kick-off in H1-25, acc. to multiple sources - Revenues of DKK 319m (+1% YoY) with an EBITDA (adj.) of DKK 58.6m in FY23 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 14, 2025
Canadian cannabis retailer High Tide acquires 51% majority stake in Germany's Remexian Pharma for EUR 27.2m
Press Release
December 3, 2024

Privately-held Remexian Pharma, an importer and distributor of medical cannabis of high pharmaceutical quality, is exploring ownership options advised by GCI, marketed off 2024E EBITDA of EUR 4m and revenues of EUR 20m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 13, 2025
Munich-based industrial holding company Blue Cap (publ.) sells 100% stake in Con-Pearl, a manufacturer of lightweight plastic products for the packaging and automotive industries, to US-based Inteplast Group
Press Release
May 30, 2025

Munich-based industrial holding company Blue Cap (publ.) has reportedly mandated Stifel with guiding a sale of Con-Pearl, a manufacturer of lightweight plastic products for the packaging and automotive industries, with teasers out since April 2025 and marketed off 2025E adj. EBITDA of EUR 19.3m, acc. to multiple sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 12, 2025
BattMann Energy, a Danish BESS developer and operator, receives investment from an unnamed investor
Press Release
June 16, 2025

Battman Energy, a Danish BESS developer and operator, gears up for a EUR ~100m capital raise advised by PwC Corporate Finance, according to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 12, 2025
Evolver Equity sells Nordic BIM Group, a distributor of BIM software and provider of related consulting services, to Norwegian investment firm Hawk Infinity
Press Release
September 25, 2023

Investor dialogues are (still) ongoing for Nordic BIM Group, a distributor of BIM software and provider of related consulting services, with Translink Corp. Finance advising acc. to sources - Sales of approx. EUR 21m and EBITDA of EUR ∼5m in FY23E (NKP Proprietary)

NKP | M&A Insights Prorprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 11, 2025
Adelis Equity Partners acquires Deloitte Norway’s SMB business to form Cedra Norway
Press Release
July 2, 2025

In line with the ongoing consolidation in the auditing and BPO services sector, Deloitte Norway and EY Norway are reportedly weighing potential carve-outs, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 11, 2025
Private equity investor Levine Leichtman Capital Partners is set to acquire ENTRO Service, a privately owned buy-and-build platform in building access, fire protection, and security services
Finanznachrichten
June 10, 2025

Update: the Lincoln-led sales process for ENTRO Service, a privately-owned buy-and-build platform within building security installation services, kicks off with IMs distributed last week, marketed off 2025E revenues and adj. EBITDA of EUR 40m and EUR 6m respectively, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
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April 14, 2025

The owners of ENTRO Service, a buy-and-build platform in building access, fire protection, and security services, are reportedly exploring ownership options and have engaged Lincoln Int. to lead the search for a potential investor, likely marketed off 2025E revenues of EUR 40m and EBITDA of 6m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 11, 2025
Update: investment firm Apollo Global Management reportedly nears acquisition of German cooling equipment maker Kelvion from Triton
Bloomberg Deals
January 30, 2025

Update: fireside chats have been held in Morgan Stanley guided sale of Kelvion, a portfolio of Triton and a global manufacturer of industrial heat exchangers with adjusted EBITDA of EUR 175m in 2024, acc. to several sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
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December 3, 2024

Swedish PE firm Triton has reportedly appointed Morgan Stanley to prepare the sale of Kelvion, a global manufacturer of industrial heat exchangers, in an H1-2025 process, expected to generate 2024E EBITDA of around EUR 175m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 6, 2025
NorgesGruppen acquires Norsk Medisinaldepot, including the pharmacy chains Vitusapotek and Ditt Apotek, from McKesson Corporation
Press Release
June 26, 2025

Update: The second round is commencing in the SEB Corporate Finance-advised sale process for Vitusapotek, a Norwegian pharmacy retail chain, following the collection of NBOs in late May, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
March 10, 2025

Update: IMs are on the doorstep in the SEB Corporate Finance-advised sale process for pharmacy retail chain Vitusapotek, acc. to several sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 6, 2025
Theon International acquires German defense technology firm Kappa optronics from Afinum for EUR 75m - EV/EBITDA (2024E) of 12.5x
Press Release
May 22, 2025

Update: teasers have been circulated last week (May 14th) in the Carlsquare-led sales process for Kappa Optronics, a manufacturer of rugged speciality cameras for use in complex defence and aviation applications, with 2024E revenues of EUR 33m and 2024E EBITDA of EUR 6m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 22, 2023

Company to watch: Afinum expected to weigh a 2024 sale of Kappa Optronics - acquired in 2016 through its 2013 vintage Fund V - as the extreme environments camera maker eyes more than 60% growth in 2023 and EBITDA of more than EUR 5m amid increasing defense expenditure in core markets, according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 6, 2025
APALT acquires aluminium components manufacturer Alunited from German PE firm Fidelium Partners
Press Release
December 4, 2024

The MP Corporate Finance-advised sale process of Fidelium Partners’ portfolio company ALUnited Denmark, a manufacturer of aluminum components for the automotive industry, is “live” acc. to several sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
August 5, 2025
Carlyle acquires HR and workflow SaaS provider Ingentis Group from Maguar Capital
Press Release
March 26, 2025

Update: R.W. Baird is mandated for, and currently preparing, the planned sale of Maguar Capital-owned Ingentis, an HR and workflow mgmt. SaaS firm, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
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January 30, 2025

Company to watch: Maguar Capital, the owner of HR tech and workflow management SaaS firm Ingentis since 2021, is reportedly mulling a sale of the company later this year, with 2024 ARR of EUR ~25m (estimate, not verified), acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 5, 2025
Verso Capital and Armada Credit Partners acquire majority stake in Suomen Avustajapalvelut, a provider of personal assistance services for the disabled, from CapMan Growth
Press Release
March 2, 2025

Update: Teasers have recently been shared in the Carnegie-advised sale process for CapMan Growth-backed Suomen Avustajapalvelut (SAP), a Finnish provider of personal assistance services for the disabled, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 19, 2024

Company to watch: CapMan Growth-backed Suomen Avustajapalvelut (SAP) emerges as a likely 2025 exit candidate amid strong financial growth and significant M&A activity in Finland's care services sector, according to NKP’s sources - sales of EUR 18m and EBITDA of EUR 1m in 2023 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 1, 2025
Katjes International acquires 60% majority stake in fashion brand Bogner
Press Release
April 22, 2024

Update: Moelis-advised sale of Bogner, the family-owned apparel and sportswear maker, has entered due diligence phase following NBOs submitted last week of February, with final bids projected for end of May, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 31, 2025

Update: the founding family of German luxury fashion brand Bogner is reportedly working with international investment bank Moelis to find suitable investors for fresh capital, with 2024E revenues of EUR 188m and EBITDA of EUR 28m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 29, 2025
VINCI Energies acquires VR Equitypartner's stake in HVAC services provider Zimmer & Hälbig
Press Release
July 3, 2025

Update: the DC Advisory-guided sales process for VR Equitypartners’ technical building equipment and HVAC services provider Zimmer & Hälbig, marketed off 2025E revenues of EUR 99m and adj. EBITDA of EUR 13m, saw NBOs due end of last week, with management presentations scheduled to kick off next week, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 19, 2025

VR Equitypartner and the management of Zimmer & Hälbig, an HVAC service provider, are reportedly exploring a potential majority sale, expected to be marketed off 2025 EBITDA of EUR ~11m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 29, 2025
Bridgepoint acquires majority stake in Hanseatic Broking Center (HBC) from Preservation Capital Partners
Press Release
July 1, 2025

FAZ confirms early coverage of NKP | M&A Insights on the upcoming sales of insurance brokerages Hanseatic Broking Center (HBC) with Macquarie as advisor and Global Gruppe with Morgan Stanley and Houlihan Lokey advising

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 2, 2025

Macquarie is overseeing the sale of Preservation Capital Partners’ buy-and-build insurance brokerage platform Hanseatic Broking Center (HBC), with NBOs due later this month - 2025E revenues and EBITDA of EUR 50-60m and EUR 15-20m respectively, acc. to multiple sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 28, 2025
Orange Cyberdefense acquires Swiss cybersecurity firm ensec
Press Release
March 24, 2025

UBS is guiding the sale of Swiss Ensec, a managed IT (security) services provider, with IMs out and NBOs due first half of April, acc. to several sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
July 25, 2025
Egeria to acquire majority stake in Junge Die Bäckerei
Press Release
April 8, 2025

The family-run bakery chain Junge Die Bäckerei is reportedly exploring ownership options guided by local boutique advisor Peter May, amid further expansion throughout North Germany, could be a logical combination with Danish Ole & Steen Lagkagehuset - achieving 2024 EBITDA of EUR 35m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
July 23, 2025
AB Karl Hedin completes divestment of Swedish sawmills to Vida, concluding restructuring of its Industrial division
Dagens Industri - website
May 26, 2025

Update: Following the sale of its Estonian sawmills, the Swedish sawmills are expected to be divested next in AB Karl Hedin’s restructuring of its Industrials businesses advised by Handelsbanken, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 10, 2025

The owners of AB Karl Hedin have mandated Handelsbanken Corporate Finance to explore ownership options for the company’s Industrial Businesses acc. to sources - IMs have been distributed and NBOs are soon to be collected (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 22, 2025
French PE firm Adagia Partners acquires a majority stake in agn, a provider of architecture- and integrated general planning services, from German PE firm Armira
Finanz Nachrichten
June 30, 2025

Update: the Houlihan Lokey-guided sales process for Armira’s architectural and integrated general planning services firm agn Niederberghaus & Partner, has reportedly entered the due diligence phase, as non-binding bids were collected at the beginning of June, with 2025E revenue and adj. EBITDA of EUR 100m and EUR 30m respectively, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 3, 2025

Armira is reportedly working with Houlihan Lokey on a sale of agn Niederberghaus & Partner, an architectural and integrated general planning services firm, with some sell-side materials out and 2025E projected revenue and EBITDA of EUR 100m and EUR 30m respectively, acc. to multiple sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights

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