Extracts from our daily coverage

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July 7, 2023
Nordic Solar secures over DKK 2,000m investment from EIG Partners
Børsen

Headline from pre-deal coverage in M&A Insights
October 26, 2022

Solar power investment firm Nordic Solar is working towards a sale, raise, or listing in Q1-2023 advised by Carnegie according to multiple sources - it is still early days and no final decision has been made (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 7, 2023
UK-based PE firm Triton acquires Norwegian engineering firm Techouse from Bluewater Private Equity - Combines the target with portfolio firm Cubility
Press Release

Headline from pre-deal coverage in M&A Insights
September 23, 2022

Alpha Corporate Finance mandated to explore a sale of engineering firm Techouse - a global provider of heat recovery and water treatment solutions to the global energy markets - which has been owned by UK private equity firm Bluewater since 2018 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 6, 2023
Nordic Capital is preparing for an eventual sale of Lagkagehuset - FIH Partners likely to get the mandate once it comes according to news media Børsen
Børsen

Headline from pre-deal coverage in M&A Insights
November 30, 2020

With key US/UK competitor bust and air-travel likely to rebound with vaccine, Nordic Capital is warming up to a 2021 exit (likely IPO) of Lagkagehuset acc. to sources - FIH Partners' may be engaged already (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 29, 2023
IK Partners divests Danish food company Løgismose to Halberg family
Press Release
May 24, 2023

Update: IK Partners relaunches Carnegie-advised exit process for Danish food company Løgismose, with NBOs having been submitted acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 1, 2020

Advisors mulling H1-2021 sale of IK Investment Partners' portfolio firm since 2014, Løgismose, following the restructuring and Thomas Klitbo's exit from the fund (NKP Sources/Analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 28, 2023
Hg Capital-backed Visma acquires Danish invoicing software provider efacto
Press Release

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

Invoicing software provider Efacto evaluates ownership options advised by Clearwater International acc. to sources - gross profit of DKK 12.7m in 2021/22 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 27, 2023
CataCap-backed Danish online marketing and web agency Group Online acquires Danish industry peer Web-Koncept
ITwatch
June 20, 2023

Update: Final bids have been submitted for EY Corporate Finance-advised sale of Danish digital agency Web-Koncept while it reports strong 2022 financials - EBITDA of DKK 35.3m in FY22, up from DKK 16.6m in FY21 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 26, 2023

Advised by EY Corporate Finance, Danish digital agency Web-Koncept explores ownership options acc. to multiple sources - EBITDA of DKK 18.3m in FY21 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 23, 2023
Pantheon Infrastructure invests USD 25m in Nordic operator GlobalConnect
Press Release

Headline from pre-deal coverage in M&A Insights
November 3, 2020

A potential sale of EQT-owned GlobalConnect could fetch a price tag of EUR 4.7bn (NKP Sources / Analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 22, 2023
Borsen confirms NKP's early coverage: Nets is looking for new owners for its eID activity MitID
Borsen
April 25, 2023

Update: NBOs were collected last week in the Deloitte-guided sale of Nets' eID activities, NemID and MitID, acc. to sources (NKP Proprietary)

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

The sale process for Nets' eID activities is kicking off with Deloitte Corporate Finance advising, acc. to sources - marketed off revenues of EUR 40m with EBITDA of EUR ~14m (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 21, 2023
Novo Holdings acquires Danish validation and monitoring solutions provider Ellab - expected valuation of DKK 6,500-7,000m according to news outlet - EV/EBITDA of 27.2x
Press Release
May 16, 2023

Update: the potential sale of EQT-owned Ellab is gaining speed with multiple buyers working actively to pre-empt the process, with several sources pointing to a signing before the summer break as a likely scenario (NKP Proprietary)

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

Company to watch: EQT-backed Ellab grows revenue to DKK 497m with adj. EBITDA of DKK 203m in FY20/21 Following successful buy-and-build strategy - sources mull that EQT may be tempted to explore ownership options in 2022 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 21, 2023
Danish fintech-bank Kompasbank raises DKK 63m
Watchmedier

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

Danish fintech-bank looking to raise DKK 100-300m in second tranche of Series B funding round - open to approaches from interested advisors

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 20, 2023
Nordic Capital acquires Foxway, a Swedish circular IT services company, from Norvestor
Press Release
May 22, 2023

Update: Houlihan Lokey-advised sale explorations for Norvestor-owned Foxway reaches an "advanced stage" with due diligence ongoing acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 19, 2021

Company to watch: Rebranded last year from Xllnc to Foxway and a portfolio firm of Norvestor since 2019, the Device as a Service firm delivers 2020 revenue of SEK 2,980m (+29% YoY) following a number of add-ons and increasing focus on hardware lifecycle management - advisors mulling sale or IPO on the horizon (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 20, 2023
PE firm PAI Partners acquires a co-controlling stake in Hg Capital-owned Azets - Process first covered by NKP on 05 September 2022
Press Release
May 2, 2023

Update: J.P. Morgan-advised sale of Hg Capital-owned Azets, a leading Northern European BPO firm, is in an advanced stage according to multiple sources, first covered by NKP on 05 September 2022 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 5, 2022

Hg Capital-owned Azets (formerly Cogital) which was partly built upon the 2016 carve out of Visma's Oslo-headquartered BPO division, is being prepared for a sale in process advised by J.P. Morgan and Skadden Arps according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 19, 2023
Update: Multiple media outlets report that Sauna360 is looking to become publicly listed by the end of 2024
Arvopaperi
June 2, 2023

Update: With NBOs having recently been collected, the ABGSC-advised sale of Sauna360 Group progresses into the due diligence phase acc. to sources - adj. EBITDA of EUR +12m in 2022 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
April 3, 2023

Sauna360 Group, a well-performing global provider of sauna solutions, is up for a strategic review, ABG Sundal Collier advising acc. to sources - revenue of EUR +80m with adj. EBITDA of EUR +12m in 2022 (NKP proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 19, 2023
Børsen confirms Agilitas' ongoing sale process of Danish waste management company Reconor - first covered by NKP on 3 March 2023
Børsen
May 2, 2023

Update: NBOs submitted in first half of April in Nomura-advised sale of Agilitas-owned waste collection firm Reconor, first covered by NKP on 03 March (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 6, 2020

Agilitas' Danish waste mgmt. firm since 2015, Reconor, posts 2019 sales of EUR 106m (+26% YoY) and EBITDA of EUR 26m, an exit or IPO could bring a 2.6x return as investors flock to environmental-assets (NKP analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 16, 2023
Swedish Corteco to ramp up acquisitions
Press Release
April 26, 2023

Nalka-backed Uniwater seeks acquisition opportunities within the Nordics

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 17, 2021

Sentica-backed TerraWise looks for acquisition targets (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 16, 2023
Danish app developer Arkyn raises DKK 10.4m in a round led by Trifork Labs
ItWatch

Headline from pre-deal coverage in M&A Insights
May 4, 2022

Danish apps developer Arkyn looking to raise DKK +70m (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 15, 2023
Vaaka Partners-owned Tietokeskus might contemplate IPO
Kauppalehti
April 12, 2022

Update: The sale of Tietokeskus, the IaaS firm owned by Vaaka Partners since 2016, is now expected to kick off after the Summer despite continued strong inbound interest (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 6, 2021

Vaaka Partners appoints investment bank for a sale of its portfolio firm since 2016, infrastructure-as-a-service (IaaS) company Tietokeskus with 2020 revenue of EUR 100m and marketed at EBITDA of around EUR 10-12m according to several sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 15, 2023
Swedish background music streaming provider Soundtrack Your Brand raises SEK 160m through a convertible loan at most at SEK 1,600m EV - EV/ARR of 5.7x
DI

Headline from pre-deal coverage in M&A Insights
February 11, 2022

Soundtrack your Brand, a background music streaming service backed by Balderton Capital since 2017, shelves previously announced IPO plans and is working on a capital raise in the private market according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 15, 2023
Norwegian retailer of electrical equipment Elektroimportøren (publ.) raises NOK 120m in a private placement
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
June 14, 2023
Borsen confirms NKP's early and exclusive coverage - GRO Capital and CVC Growth Partners are eyeing a sale of Omada - Evercore mandated to advise on the efforts
Borsen

Headline from pre-deal coverage in M&A Insights
April 21, 2023

GRO Capital and CVC Growth Partners is eying a sale of Omada - an identity and access governance software business - as the company is being transformed into a SaaS business and recently reported strong 2022 results - international investment bank known to NKP has been mandated (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 14, 2023
Bloomberg confirms NKPs early coverage - Danish SaaS company Sitecore is being prepared for an exit process advised by Morgan Stanley & Goldman Sachs - Speculative valuation of USD 2,000m
Borsen

Headline from pre-deal coverage in M&A Insights
December 7, 2020

With new IPO-experienced CFO in place and strong current trading amid lockdown, EQT is working towards a Q3-2021 US listing of Sitecore according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 13, 2023
Smart EV charging solutions provider Easee receives sales ban in Norway - still planning to raise NOK 300m and launch new charger
DN

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

Smart EV charging solutions company Easee is preparing for a minority sale advised by ABG Sundal Collier with 2022E EBIT of NOK 800-1,000m and revenues of around NOK 2,000m - process expected to kick off after Easter (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 13, 2023
Axcel acquires a majority stake in Swedish vertical software group Progrits at an EV of SEK 1,500m and an EV/sales of 5x
Press Release

Headline from pre-deal coverage in M&A Insights
November 24, 2022

Eterna Invest-backed Progrits, a group of B2B SaaS companies, is preparing for a dual-track process scheduled for H1-2023 advised by Carnegie - ARR of approx. SEK 300m with an EBITDA of SEK 30m acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 12, 2023
Update: E-boks Group confirms ongoing strategic review, EY Corporate Finance hired as advisor for the process - an opportunity first covered by NKP in May 2023
Børsen

Headline from pre-deal coverage in M&A Insights
May 25, 2023

PostNord and Nets are reportedly preparing for a possible sale of e-boks Group, the Danish provider of digital mailboxes for communication between private and government-owned entities and private citizens - according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 9, 2023
Swedish PE firm Monterro acquires Danish Edtech SaaS company UNIwise - Process first covered by NKP in October 2022
Borsen

Headline from pre-deal coverage in M&A Insights
October 21, 2022

Edtech SaaS company UNIwise, a digital assessment platform provider within higher education, explores options advised by EY Corporate Finance - revenue of DKK 34.9m with EBITDA of DKK 6m in FY2021/22 (NKP Proprietary)

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

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