Extracts from our daily coverage

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December 20, 2023
Deutsche Bahn commences bidding process for logistics subsidiary DB Schenker
Press Release

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
December 19, 2023
Update: Norstjernan-backed Attendo (publ.) confirms talks to acquire parts of Team Olivia
Press Release/DI
October 30, 2023

Advised by boutique corporate finance firm PK Partners, Procuritas is exploring ownership options for Team Olivia, acc. to sources - possible sale of parts of or the whole business (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 10, 2020

Procuritas' private care firm Team Olivia could be among this year's IPO candidates on the back of a favorable political climate and record 2019 earnings (NKP analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 19, 2023
Dutch private equity firm Rivean acquired Dortmund-based data analysis firm Dataciders from Munich-based AUCTUS Capital Partners
Press Release

Headline from pre-deal coverage in M&A Insights
August 3, 2023

Houlihan Lokey appointed for the upcoming sale of Auctus' portfolio firm since 2019, Dataciders (formerly QuinScape) - an IT services provider focus on data management and analytics, according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 19, 2023
Swiss-based private equity firm KKCG acquires Avenga, a software development and consulting firm based in Germany
Press Release

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

Advised by Citi, Oaktree Capital and Cornerstone Investment is working on a sale of their portfolio firm Avenga - their IT services portfolio firm since 2017 - with IMs being out and NBOs due later this month

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 18, 2023
Norwegian billionaire Kjetil Holta acquires a minority stake in Norwegian recycling business Revac at an EV of NOK ~3,120m and an EV/EBITDA of ~21x
Finansavisen

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

Privately owned Revac, a specialist within Waste Electrical and Electronic Equipment (WEEE) recycling, is being prepared for a sale in process advised by ABG Sundal Collier - some pretesting in the spring based on 2021 EBITDA of NOK 122.9m (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 15, 2023
Software-focused private equity firm Thoma Bravo acquires Hypergene from Monterro at a valuation of SEK billions - EV/Sales of 4-5x
Press Release
November 24, 2023

Update: The William Blair-guided sale process for Monterro-owned Hypergene, a Swedish business intelligence SaaS provider, has reached the due diligence phase acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 13, 2023

Company to watch: Hypergene, a business intelligence SaaS firm owned by Monterro since 2016, reaches ARR of SEK 171m (+20% organic growth) and adj. EBITDA of SEK 39.5m in 2022 - preliminary exit preparations have commenced acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 14, 2023
British insurance group Howden acquires Danish financial advisory firm NORTH at a valuation of over DKK 2,000m
Press Release
September 29, 2023

Update: The Houlihan Lokey-guided sale of Polaris-backed North, a Danish insurance broker, is now well into the second phase, with both financial sponsors and strategics lining up as potential suitors, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 11, 2023

Polaris is considering an exit from North, a Danish insurance broker, acc. to sources (InsideBusiness / NKP Proprietary)

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Headline from pre-deal coverage in M&A Insights
December 14, 2023
US-based tax software provider Vertex (publ.) announces a public takeover offer for Swedish SaaS provider Pagero Group (publ.) at an EV of SEK 5,900m and EV/ARR of 7.8x
Press Release

Headline from pre-deal coverage in M&A Insights
September 11, 2020

Backed by Summa Equity since 2017, document mgmt. SaaS firm Pagero delivers sales of SEK 310m in 2019 (+17%) - Summa could realize +2x return if sold (NKP analysis)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 12, 2023
German Football League Board gains approval to start negotiation with an external investor
Süddeutsche

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

Private equity firms bid for minority stake in German football broadcasting rights holder

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 12, 2023
Danish private equity firm Capidea acquires IT freelance provider Right People Group
Press Release

Headline from pre-deal coverage in M&A Insights
October 3, 2023

Right People Group, a Danish freelance-based IT consultancy, explores ownership options advised by PwC Corporate Finance, with sell-side material having recently been distributed, acc. to sources - revenues of DKK 351m and EBITDA of DKK 24m in FY22/23E (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 11, 2023
Sprints acquires a 40% stake in Modular Finance at a valuation of up to SEK 3,000m following a sale process advised by Rothschild & Co and followed closely by NKP
Breakit
October 31, 2023

Update: IMs are out in the Rothschild-advised process for Modular Finance with NBOs to be collected in the coming month, according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 13, 2023

Modular Finance, a Swedish SaaS provider of financial market data and digital investor relations tools, could come to market in the near-medium term acc. to several sources - revenue of SEK 102m (+45% YoY) and EBIT of SEK 62.5m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 8, 2023
OpenGate Capital-backed Jøtul, a Norwegian manufacturer of stoves and fireplaces, considers NOK 600m bond issue
Press Release
September 15, 2022

Update: OpenGate Capital explores exit options for Norwegian fireplace supplier Jøtul advised by Lincoln International acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 19, 2022

Company to watch: Jøtul, a Norwegian supplier of fireplaces and a portfolio firm of OpenGate Capital since 2018 grows +40% YoY to reach revenue of NOK 1,269m with adj EBITDA of NOK 157m in FY2021 - strong current trading could tempt OpenGate to explore a sale acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 8, 2023
Scalable Capital raises EUR 60m in extended Series E funding led by Balderton Capital
Press Release

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

Scalable Capital, the German neo-broker and digital asset manager unicorn backed by Tencent since 2021, among others, is again in the market for raising capital as a viable alternative to the ongoing discussions with Deutsche Bank to support the roll-out of its broadened offering (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 8, 2023
Greenergy Invest acquires a significant minority stake in Danish solar cell roof manufacturer Solartag
Finans

Headline from pre-deal coverage in M&A Insights
February 14, 2023

Danish solar cell roof company Solartag looks for a new majority owner (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 7, 2023
Private investment firm VRTY Capital acquires a minority stake in installation and services provider Amalo for an undisclosed amount
Other

Headline from pre-deal coverage in M&A Insights
November 8, 2022

The owners of Amalo, an installation and services provider specialised in heat pumps and energy recovery solutions, explore options advised by Nordic M&A - marketed off 2022E EBITDA of DKK 7m acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 6, 2023
French cosmetics giant L'Oréal (publ.) acquires Danish microbiome research company Lactobio
Borsen

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

Lactobio, a Danish biotech company focused on microbial solutions, explores ownership options advised by Atrium Partners, with IMs being ready and NBOs set to be collected in August acc. to sources - Revenue of approx. DKK 15m and break-even EBITDA in FY23E (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 4, 2023
Update: Breakit confirms NKP's coverage of the Rothschild-advised sale process for Modular Finance, which has now reached an advanced stage with exclusive negotiations ongoing, according to news outlet
Breakit
October 31, 2023

Update: IMs are out in the Rothschild-advised process for Modular Finance with NBOs to be collected in the coming month, according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 13, 2023

Modular Finance, a Swedish SaaS provider of financial market data and digital investor relations tools, could come to market in the near-medium term acc. to several sources - revenue of SEK 102m (+45% YoY) and EBIT of SEK 62.5m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 4, 2023
District heating-and-cooling company Stockholm Exergi issues green bonds of SEK 1.6bn
Press Release
April 20, 2021

Update: Indicative bids for the sale of Fortum's district heating network Stockholm Exergi are due in the first week of May 2021 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 20, 2020

Finnish energy firm Fortum hires Citi as co-adviser on Stockholm Exergi sale

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 4, 2023
Juuri Partners invests in SaaS platform provider for mobile work Kiho
Press Release

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

Privately owned Kiho, a Finnish SaaS platform provider for work in the field, explores growth financing options advised by Initia Corporate Finance, acc. to sources - exp. revenue of EUR 6.2m and EBITDA of EUR 1.4m in FY23E (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 1, 2023
Norvestor exits Roadworks
Press Release
January 13, 2023

Following the successful sale of Roadworks subsidiary Otera AS, Norvestor is (still) pursuing a sale of Roadworks remaining business areas acc. to sources, William Blair advising (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 5, 2021

Norvestor may eye a timely 2021 exit of its well-performing portfolio firm Roadworks - relatively unaffected by the pandemic and estimated EBITDA of NOK 82m in 2020 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 28, 2023
US-based Flexera acquires Sweden-based SAM solutions provider Snow Software
Press Release
August 24, 2023

Update: J.P. Morgan-advised sale of Snow Software has entered the due diligence phase with multiple bidders and binding offers to be submitted in early September, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 26, 2020

Vitruvian-backed software asset management (SAM) firm SNOW Software could be headed for an IPO

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 28, 2023
Update: Ewii's CEO confirms NKP's coverage of the company's sale considerations of its fiber infrastructure business
KapWatch

Headline from pre-deal coverage in M&A Insights
September 29, 2023

EWII Group is actively looking for external investors for its fiber infrastructure business amid its pledge to bring fiber in everything to everyone for five municipalities before year-end, acc. to sources - Deloitte Corporate Finance advising, infra fund(s) in the buyer field (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 28, 2023
Schaeffler (publ.) increases acquisition offer for 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
November 23, 2023
Denmark-based sustainable energy company European Energy secures EUR 150m loan facility from DNB Markets and SEB
Press Release
May 17, 2022

Update: The minority stake sale of Danish European Energy Group moves into the second round with multiple bidders acc. to sources, FIH Partners advising as first uncovered by NKP on 08.04.2022 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
April 8, 2022

European Energy Group, a privately owned developer and asset manager within renewable energy, is preparing for a minority stake sale advised by FIH Partners, 2021 EBITDA of EUR 81.2m based on revenues of EUR 328.7m (+59% year-on-year) according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 21, 2023
Triton divests digital marketing company Fonecta to Sponsor Capital
Press Release
October 16, 2023

Update: Access Partners holds the mandate for Triton's potential divestment of Fonecta, a Finnish digital marketing agency, from its ownership in EDSA Group in a Q4-2023 sale process, acc. to sources (NKP Proprietary)

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

Triton is looking to divest Fonecta, a Finnish digital marketing agency, from its ownership in EDSA Group in a Q4-2023 process with teasers already out, acc. to multiple sources - Sales of EUR 58m and EBITDA of EUR 8m (NKP Proprietary)

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

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