Extracts from our daily coverage

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February 17, 2025
AnaCap-backed Market Pay Group acquires payment service provider Altapay
Press Release

Altapay, a well-performing payment service provider, explores ownership options advised by EY Corporate Finance with teasers currently shared - ARR of DKK 53m (+15% YoY) and EBITDA of DKK 13m in 2024E acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 23, 2024

Headline from pre-deal coverage in M&A Insights
February 14, 2025
Bain Capital to acquire German facilities management company Apleona Group from PAI Partners in EUR 4 billion deal at an implied EV/EBITDA multiple of 13.3x (2023)
Press Release
April 4, 2024

Update: IMs are circulating in the Bank of America and Deutsche Bank advised sale process of facility management provider Apleona backed by PAI Partners - marketed off 2023 adj EBITDA of EUR 300m (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 14, 2023

BofA, Deutsche Bank, and Hengeler Mueller mandated for a H1-2024 sale of pan-European real estate and facility manager Apleona - a PAI Partners portfolio firm since 2020 with revenues of EUR 3,500m and EBITDA of around EUR 250-300m - process scheduled for Q1-2024, Nordic Montagu-owned DEAS also (still) in the market, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 14, 2025
Tietoevry's (publ.) Bank of America-advised sale process for its Tech Services division is well-advanced with a non-industrial player, expected conclusion in March
Press Release
January 31, 2024

Update: A second round of NBOs is expected in mid-February in the Morgan Stanley-advised efforts to carve out and divest the banking activities of Finnish IT company Tietoevry (NKP Proprietary)

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

Update: Indicative bids have been submitted this month in the Morgan Stanley-advised efforts to carve out and divest the banking activities of Finnish IT company Tietoevry (publ.), acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 12, 2025
Update: FAZ confirms NKP M&A Insights coverage of IFM, a producer of sensors and control systems for industrial automation potential minority stake sale and future IPO plan advised by Deutsche Bank
Frankfurter Allgemeine/ NKP | M&A Insights Proprietary
November 19, 2024

Update: The Deutsche Bank-advised minority stake sale process of family-owned ifm Group, a producer of sensors and control systems for industrial automation, is advancing to the next phase with process letter out and LOIs deadline by 04/12/24, acc. to sources (NKP Proprietary)

NKP M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 2, 2024

Advised by Deutsche Bank, family-owned IFM Group, specialised in production of sensors and control systems for industrial automation, is preparing for a minority stake sale of 20% expected to kick-off in October - acc. to sources (NKP Proprietary)

NKP M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 12, 2025
Dentsply Sirona (publ.) engages Goldman Sachs to explore strategic alternatives for Wellspect, a Sweden-based provider of bladder and bowel management products
Press Release
August 29, 2023

Update: a 3rd/4th round of bids is planned for the autumn in the Centerview Partners-guided sale process for Wellspect following unsatisfactory 2nd round bid valuations, acc. to sources (NKP Proprietary)

NKP M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 22, 2022

Wellspect, a maker of urinary catheters and bowel management systems, is being prepared for a sale by its owner Dentsply Sirona following the parent's "strategic review of the portfolio" announced 14 Nov - Jefferies advising, according to sources (NKP Proprietary)

NKP M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 11, 2025
Danish biotechnology company Novonesis acquires full ownership of Feed Enzyme Alliance from Swiss-Dutch DSM-Firmenich for EUR 1.5bn
Press Release
January 28, 2025

Update: Piper Sandler reportedly appointed by DSM Firmenich to explore a potential sale of the recently separated Animal Nutrition & Health ("ANH") division, following the strategic review announced in early 2024, 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
February 11, 2025
Munters (publ.) divests FoodTech Equipment business to American Industrial Partners-backed GPT for SEK ~1.1bn
Press Release
June 11, 2024

Update: NBOs are soon to be collected in the Rabobank-advised process to carve out and sell Munter’s FoodTech Equipment business, according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 6, 2023

Following the strategic review that was announced in July 2023, Munters (publ.) is in the early stages of preparing a possible sale of parts of or all of its equipment business within its FoodTech segment, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 10, 2025
Goldman Sachs re-acquires majority stake in Trackunit from Hg Capital and Gro Capital
Press Release
November 4, 2024

Update: NBOs are soon to be collected in the Evercore-advised process for Hg Capital-backed Trackunit, according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 30, 2023

Company to watch: Hg Capital to explore “different options” for Trackunit - a provider of telematics and IoT solutions to the (off-highway) construction sector for which the PE firm paid around 27x EBITDA in 2021 - including a sale or IPO, as the Danish technology firm is out-performing previous expectations organically and through recent acquisitions (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 5, 2025
Capidea acquires majority stake in Danish motor producer Hoyer at an EV of DKK 800m and EV/EBITDA of 6.7x
Press Release / Inside PE
May 10, 2023

Advised by Deloitte Corporate Finance, Solix explores ownership options for Hoyer Group, a provider of customised electric motor solutions, acc. to sources - EBITDA of DKK ~95m in 2023E (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
February 4, 2025
Public consulting specialist ]init[, backed by EMERAM and Rivean, acquires HBSN, a healthcare consulting, and IT services provider, to strengthen their healthcare digitalization practice
Press Release
October 22, 2024

Founder-owned HBSN, a healthcare consulting, and IT services provider is in the market advised by Pava Partners, after experiencing strong growth in recent years, marketed off 2024E adj. EBITDA of EUR 16m, 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
February 4, 2025
French Tikehau Capital acquires significant minority stake in FTAPI, a secure workflow automation platform, to drive European growth
Börsen-Zeitung
February 4, 2024

FTAPI Software, a secure workflow automation platform, is coming to market in a sales process advised by Stifel, having reached run-rate revenue (ARR) of EUR 10m in 2023, 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
February 3, 2025
SüdBG and WMS acquire majority stake in Germany's webesan, a privately-owned damage restoration company
Press Release
June 19, 2024

Privately-owned damage restoration company Webesan is in the market for a majority sale advised by LBBW, marketed off 2023 EBITDA of EUR 5m - 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
January 31, 2025
AURELIUS Private Equity to acquire Lernia, a staffing and vocational education company, from the Swedish state for SEK 120m
Press Release
December 4, 2024

PwC is reportedly advising on a possible sale of state-owned staffing and vocational education company Lernia, with sell-side material in distribution according to sources - LTM revenues of SEK 3,393m and EBITDA of SEK 40m in Q3-2024 (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
January 31, 2025
Associated Danish Ports (ADP) acquires a majority stake in Hanstholm Port in North Jutland, Denmark for DKK 63m
Press Release
November 7, 2024

Update: NBOs are due in early December in the Carnegie-advised process for a minority stake sale/capital raise for Associated Danish Ports (ADP), acc. to several 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
January 31, 2025
Nalka's IPO of Asker Healthcare could take place in Q1-2025 at a EUR 2bn valuation, acc. to Bloomberg
Bloomberg
October 14, 2024

Update: Nalka-backed Asker Healthcare Group sets sights on H1-2025 IPO after last year’s sale explorations, according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 31, 2023

Update: NBOs are due today for Swedish Nalka-backed Asker Healthcare Group - Process followed since March 2023 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 29, 2025
Swedish Polhem Infra acquires a 49% stake in Finnish energy company Pori Energia at an EV of EUR 905m
Press Release
January 2, 2025

Update: The City of Pori in Finland is nearing a sale of a minority stake in Pori Energia, its wholly owned energy company, as the VALOR Partners-advised process has now reached an advanced stage, acc. to several sources (NKP | M&A Insights)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 23, 2024

The City of Pori in Finland is exploring a minority stake sale in Pori Energia, its wholly owned energy company, with VALOR Partners advising, acc. to sources - sales of EUR 135m and EBITDA of EUR 41m in 2023 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 28, 2025
Private equity investor GENUI to acquire a majority stake in Aagon, a software company specialising in unified endpoint management
Finanznachrichten
November 22, 2024

Update: DD started last week in the Drake-Star-advised sales process of Aagon, a founder-owned software company specialising in unified endpoint management, expecting 2024E adjusted EBITDA of EUR 8m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 25, 2024

The Founders of Aagon, a software company specialising in unified endpoint management, are exploring ownership options advised by Drake Star to accelerate growth and international expansion, expecting 2024E adjusted EBITDA of EUR 8m, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 28, 2025
French-based Tikehau Capital makes its first German private equity acquisition and acquires TTSP HWP, a highly specialized architectural services firm focused on data center construction
Press Release
October 18, 2024

Information memoranda expected last week of October in Harris Williams guided sale of TTSP HWP, a highly specialized architectural services firm focused on data center construction, projecting 2024E adj. EBITDA of EUR 20m (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
January 27, 2025
Esmaeilzadeh Holding provides an update on its sale of shares in Lyvia Group
Press Release
June 13, 2024

Update: IMs have been shared in the ABG Sundal Collier-advised ownership explorations for Esmaeilzadeh Holding-owned Lyvia, a Swedish software and services group, with the process to run over the summer, acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 30, 2024

Advised by ABG Sundal Collier, Esmaeilzadeh Holding explores options for Swedish software and IT services provider Lyvia - pro-forma revenues of SEK 2,000m and EBITDA of approx. SEK 400m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 27, 2025
Credo Partners acquires a 51% stake in Norwegian provider of marine propulsion systems Nogva
Kystmagasinet
April 11, 2024

Update: The Saga Corporate Finance-led ownership explorations for Nogva, a privately held Norwegian provider of marine propulsion systems, is well into the due diligence phase, acc. to several sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 7, 2023

The owners of marine propulsion systems provider Nogva are exploring ownership options advised by Saga Corporate Finance according to multiple sources - Revenues of approx. NOK 500m and EBITDA of NOK ~80m in FY23E (NKP proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 24, 2025
Norwegian conglomerate Orkla (publ.) sells its entire hydropower portfolio to Hafslund, Svartisen Holding, and Å Energi for NOK 6.1bn - EV/EBIT of 7x
Finansavisen
January 2, 2025

The DNB Markets-advised process for Orkla’s Hydro Power Business is “well-progressed” according 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
January 24, 2025
Hongshan Capital acquires Marshall, a Swedish audio, technology, and design company, in a deal valued at nearly SEK 12.5bn - EV/EBITDA of 14x
Breakit
November 6, 2024

Update: NBOs are soon to be collected in the Goldman Sachs-led process for Altor-backed audio company Marshall Group, according to several sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 10, 2024

Update: Goldman Sachs has been mandated for a potential stake sale in headphone and speaker company Marshall Group acc. to sources - Adj. EBIT of 791m (LTM Q1-2024) (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
January 23, 2025
Bloomberg confirms NKP | M&A Insights' early coverage on the upcoming sale of Kelvion, a global manufacturer of industrial heat exchangers, by buyout firm Triton
Bloomberg / NKP | M&A Insights Proprietary
December 3, 2024

Update: Morgan Stanley to guide exit of Triton's heat exchangers business Kelvion with kick-off in Q1, acc. to sources (NKP | M&A Insights proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 2, 2024

After some comprehensive refinancing this summer, Triton has reportedly appointed an international investment bank 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
January 23, 2025
Global software company Citrix, backed by Vista Equity Partners and Elliott Investment Management and through Cloud Software Group, acquires Unicon, a provider of the secure endpoint operating system (OS), from private equity firm Findos
Press Release
September 24, 2024

Findos-backed Unicon, a provider of Linux-based cloud solution software, explores ownership options advised by TCG Corporate Finance - marketed off ARR of EUR 11m 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
January 23, 2025
Vanever acquires majority of Munich-based Campervan Startup Off
Business Insider DE Gruenderszene
January 3, 2024

Off-campers, a nation-wide auto-camper and motorhome rental provider formerly known as CamperBoys, is working on a capital raise of EUR 8-10m amid strong momentum and favorable macro-trends with 2023 revenues of EUR >12m and healthy margins (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

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