Extracts from our daily coverage

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February 28, 2024
Update: Breakit confirms NKP's coverage of the ongoing ownership explorations for playtech firm Boxbollen
Breakit

Headline from pre-deal coverage in M&A Insights
January 15, 2024

The owners of playtech firm Boxbollen, the producer of a portable boxing device, are looking to sell a significant ownership stake in the company, with early-stage preparations ongoing - revenues of SEK 306m in 2023E (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 27, 2024
Dansk Ejerkapital-backed CN3, a Danish provider of digital services to construction projects may pursue acquisitions to expand further across Europe
KapWatch
April 19, 2023

Finnish software company Cadmatic looks to grow through acquisitions

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 10, 2021

Publ. listed Sikri looks to grow through M&A - could announce deals this year (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 27, 2024
French digital payment company Edenred has acquired Danish eMobility company Spirii in a deal estimated to be valued at more than DKK 1bn
KapWatch

Headline from pre-deal coverage in M&A Insights
October 31, 2022

eMobility charge company Spirii looking to raise EUR 5m in the coming year

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 27, 2024
Schaeffler advances in the acquisition of Vitesco
Press Release

Headline from pre-deal coverage in M&A Insights
September 1, 2020

Continental's Vitesco spin-off and effects of the pandemic could trigger a wave of automotive industry consolidation (NKP Analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 21, 2024
Update: FLSmidth's CFO comments on buyer landscape for the planned sale of its cement business in news media
Finans

Headline from pre-deal coverage in M&A Insights
February 16, 2024

Update: Denmark-headquartered FLSmidth (publ.) entertained pitches from corporate finance advisors end-January in connection with its exploration of divestment options for its Cement business (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 16, 2024
Tietoevry (publ.) provides an update on its strategic review of its banking business in its 2023 earnings report
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
April 17, 2023

Update: the potential divestment or listing of Tietoevry's Banking division is getting closer as Morgan Stanley has been retained to lead the efforts, 2022 revenue of EUR 521.3m and adj. EBITA of EUR 71.9m - according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 16, 2024
Tietoevry (publ.) provides an update on its strategic review of its tech services business in its 2023 earnings report
Press Release

Headline from pre-deal coverage in M&A Insights
March 13, 2023

Update: Bank of America appointed in potential sale of Tieto Tech Services, formerly TietoEvry Connect and Transform, respectively, once strategic review is wrapped up - according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 16, 2024
PE firm Altor Equity Partners acquires 6.6% of the shares in life insurance company Mandatum (publ.) from investment firm Solidium at an equity value of EUR 1,985m
Press Release

Headline from pre-deal coverage in M&A Insights
December 15, 2022

Update: following Sampo's announcement last week regarding a strategic review of Mandatum, its life insurance and asset management arm, we understand that Goldman Sachs is actively engaged in preparing for a possible sale or separate listing (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 16, 2024
Verdane-backed online marketplace for posters Desenio (publ.) requires SEK 1bn in funding to avoid bankruptcy
BreakIt

Headline from pre-deal coverage in M&A Insights
August 5, 2020

Verdane's high-growth online poster shop Desenio is nearing a 4-year holding period, Arma mandated for exit since Feb 2020

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 15, 2024
Update: News outlet PE News confirms NKP's coverage of the minority-stake sale in Hempel
PE News
February 7, 2024

Update: NBOs are due this week in the Rothschild-advised sale of a minority stake in Hempel, a global supplier of coatings and paints headquartered in Denmark (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
April 29, 2022

The Hempel Foundation mandates investment bank Rothschild to explore a sale of a minority stake in coating supplier Hempel, IPO on the horizon - revenue of EUR 1,774m and EBITDA of EUR 203m in FY21 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 15, 2024
Thyssenkrupp is considering selling Steel Business and is evaluating Sale of Naval Unit
Bloomberg

Headline from pre-deal coverage in M&A Insights
November 23, 2023

Thyssenkrupp considers carve-out of Marine business unit Thyssenkrupp Marine Systems

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 15, 2024
Update: Breakit confirms NKP's coverage of the Harris Williams-led sale process for web hosting services provider Loopia - sell-side material expected in mid-February
Breakit

Headline from pre-deal coverage in M&A Insights
September 27, 2022

Company to watch: Axcel-owned pan-European web and hosting services provider Loopia emerges as a strong exit candidate following a successful buy-and-build strategy and a fast growing managed services market (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 15, 2024
Norwegian electrical equipment retailer Elektroimportøren (publ.) raises NOK 150m following debt restructure
Press Release

Headline from pre-deal coverage in M&A Insights
September 1, 2020

Elektroimportøren defies retail death with 19' revenue of NOK 964m (+23%) - with LPs paid off, Herkules may welcome an exit of their portfolio firm since '14 (NKP Analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 14, 2024
Private equity firm Altor and founder Pernilla Nyrensten have completed the sale of a 7% stake in Swedish e-commerce company Revolutionrace (publ.) at an EV of SEK 6,160m and EV/Adj. EBIT of 16.7x
Press Release

Headline from pre-deal coverage in M&A Insights
October 19, 2020

Altor prepares sale of RevolutionRace - could realise a 2.3x return in 3 years if IPOing the direct-to-consumer outdoor apparel firm (NKP-Analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 12, 2024
Norvestor-backed Norwegian IT consultancy Cegal issues NOK 1,550m bond
Press Release

Headline from pre-deal coverage in M&A Insights
October 5, 2023

Company to watch: Following the completed integration with SYSCO, Norvestor is expected to weigh ownership options for Cegal, a Norwegian IT consultancy specialised in the energy sector, in H1-2024 on the back of strong current trading and FY22 EBITDA of NOK 279m, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 12, 2024
The sale process of Advent International-backed Cobham Satcom is being prepared
Press Release

Headline from pre-deal coverage in M&A Insights
August 16, 2022

Having been carved out as a stand-alone company from Cobham in 2020, Cobham Satcom (mostly consisting of Danish Thrane & Thrane) is being prepped for an exit by its owner since 2019, Advent International, according to multiple sources - revenue of USD 233m with normalized EBITDA of USD 51m in 2021 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 9, 2024
Norvestor-backed IT consultancy specialist Cegal contemplates NOK 1,550m bond issue
Press Release

Headline from pre-deal coverage in M&A Insights
October 5, 2023

Company to watch: Following the completed integration with SYSCO, Norvestor is expected to weigh ownership options for Cegal, a Norwegian IT consultancy specialised in the energy sector, in H1-2024 on the back of strong current trading and FY22 EBITDA of NOK 279m, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 9, 2024
A.P. Møller - Mærsk shows interest in German logistics company DB Schenker
Kapwatch

Headline from pre-deal coverage in M&A Insights
September 28, 2023

Update: DB Schenker to be sold as one unit and not split up it has been decided by Deutsche Bahn's supervisory board amid the ongoing strategy review and planned high-profile sale advised by Goldman Sachs, Morgan Stanley, and Deutsche Bank (Press release/NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 9, 2024
Swedish PropTech company Myrspoven raises EUR 5.4m in funding round
Press Release

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

Myrspoven, a fast-growing Swedish provider of AI-powered energy optimization software for buildings, is currently in the process of raising SEK ~70m in a Series A round (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 9, 2024
Danish shipping company A.P. Mølller-Mærsk (publ.) initiates demerger and separate listing of its towage and marine services activities in Svitzer
Press Release

Headline from pre-deal coverage in M&A Insights
June 28, 2023

Company to watch: As a result of the strategic review announced in March, A.P. Moller Maersk is preparing for a possible sale of Svitzer, a leading global towage operator - revenue of USD 774m and EBITDA of USD 229m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 9, 2024
Swedish public transportation company MTR Nordic Group divests its passenger rail operator MTRX to Finnish state-owned transportation company VR Group
Press Release

Headline from pre-deal coverage in M&A Insights
March 1, 2023

Hong Kong-based MTR Corporation explores a sale of its Swedish train operator business MTRX, DNB Markets advising acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 8, 2024
Lifefit Group issues an EUR 12m bond
Press Release

Headline from pre-deal coverage in M&A Insights
January 12, 2024

Distressed debt fund Oaktree is seeking new owners this Spring for its German fitness platform, LifeFit Group, a portfolio firm since 2012 that was rebranded in 2019 as a buy-and-build vehicle from Fitness First Germany - Houlihan Lokey advising with premarketing ongoing (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 8, 2024
KKR dropped out of bidding for metering service company Techem after second-round bids
Bloomberg

Headline from pre-deal coverage in M&A Insights
November 15, 2023

Update: with management presentations completed in October, IMs being out, and an NBO deadline of second half of December, metering firm Techem's dual-track process mainly draws interest from infrastructure and pension funds, according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 7, 2024
Telenor continues ownership explorations for its Nordic towers unit
Light Reading

Headline from pre-deal coverage in M&A Insights
August 18, 2022

Update: carve-out and eventual (minority) sale of Telenor's tower assets are taking shape with Barclays advising and tentative timeline of Q1-2023 according to multiple sources - run-rate EBITDA of around ~ NOK 1,300m based on fresh H1-2022 report (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 6, 2024
Private equity firm Triton lists German tank gearbox manufacturer RENK by selling 30 million shares in a private placement
Press Release

Headline from pre-deal coverage in M&A Insights
October 4, 2023

Triton pulls planned listing of military vehicles gearbox-maker Renk following unfavorable market conditions, as the first day of trading was planned for tomorrow 05 October (Press release/NKP Proprietary/Bloomberg)

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

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