Extracts from our daily coverage

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October 14, 2025
Capidea acquires a majority stake in TourCompass, a digital tour operator, from Maj Invest
Press Release
September 19, 2024

Maj Invest-backed TourCompass, a well-performing provider of adventure travel tours, is being prepared for a possible 2025 exit advised by PwC Corporate Finance acc. to sources - Revenues of DKK +400m with an EBITDA margin of 7-8% in 2024E (NKP Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 10, 2025
US-based private equity firm Carlyle Group acquires a 60% majority stake in BASF Coatings for EUR 7.7bn - EV/EBITDA 13x
Press Release
September 15, 2025

Update: final bids are to be collected beginning of October in the BofA and JP Morgan-advised sales process for BASF's Coatings Business, which could fetch a valuation of EUR 6 billion, acc. to sources (NKP | M&A Insights Proprietary)

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January 13, 2025

BASF has reportedly mandated J.P. Morgan and BofA for a H2-2025 sale of its automotive-exposed Coatings business, amid strategic review and the more imminent sale of the business unit's Brazilian decorative paints sub-division, acc. to multiple sources (NKP | M&A Insights Proprietary)

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October 8, 2025
ECM sells majority stake in fleet management software company YellowFox to Peter Möhrle Holding for almost EUR 200m at an implied EV/EBITDA of close to 20x
Press Release
September 4, 2025

Update: the much-anticipated Rothschild-led sale of ECM’s vehicle telematics software firm YellowFox is reportedly progressing, with management meetings held over the summer and some form of indicative bids expected ahead of IM distribution - marketed off a 2025E run-rate EBITDA of EUR 12m - acc. to sources (NKP | M&A Insights Proprietary)

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January 24, 2025

Company to watch: YellowFox, a vehicle telematics software provider for the DACH region, backed by private equity firm ECM since January 2021, emerges as a likely H2 2025 exit candidate amid strong recent growth, expected 2024 ARR of EUR 20-25m with sustained 20% YoY growth and good profitability, acc. to sources (NKP | M&A Insights Proprietary)

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October 8, 2025
Dutch PE investor Bencis acquires MontiPower, a maker of rotary bristle blasting technology for industrial surface cleaning, from Norvestor to drive global expansion
Press Release
November 26, 2024

Monti Group, the German-headquartered part of Norvestor-owned Preservation Holding and a maker of rotary bristle blasting technology for industrial surface cleaning, is reportedly exploring a potential sale advised by Lincoln International with 2024 revenue and EBITDA of EUR 20m and EUR 9m, respectively - according to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 8, 2025
Swedish company Bufab set to acquire German provider of global purchasing solutions Novia for EUR 60m at an implied EV/EBITDA of 7.5x
Press Release
April 23, 2024

NBO deadline was reportedly before Easter in DC Advisory led sales process for Novia Group, an industrial outsourcing services provider with 2024 adj. EBITDA of EUR 10m - acc. to multiple sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 8, 2025
Investment firm Nordic Amazing Group acquires majority stake in SEO and PR firm firm Increv
Breakit
December 5, 2023

Data-driven SEO and PR firm IncRev is exploring ownership options with plans of bringing in an active investor, acc. to sources - sales of SEK 55m (+52% YoY) and EBITDA of SEK 10m in FY22/23 (NKP Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 7, 2025
Private equity firm FLEX Capital has acquired Austrian software specialist Evo IT from VR Equitypartner
Press Release
June 20, 2025

Update: the Drake Star-guided sale of Evolit Consulting, a Vienna-based digital transformation and IT consultancy firm majority-owned by VR Equitypartners since 2019, has reportedly entered the due diligence phase, non-binding bids collected end of May, with 2025E revenues of EUR 20m and EBITDA of EUR 4m, acc. to sources (NKP | M&A Insights Proprietary)

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December 11, 2024

Update: Drakestar has reportedly been appointed to oversee the sales process of Evolit Consulting, a Vienna-based digital transformation and IT consultancy firm, majority-owned by VR Equitypartners since 2019 and expected to generate 2024E EBITDA of around EUR 5m, acc. to sources (NKP | M&A Insights Proprietary)

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October 7, 2025
Sweco (publ.) acquires Fimpec Group, a provider of engineering, consulting, and project management services, from Helmet Capital
Press Release
February 3, 2025

Company to watch: Fimpec, a Finland-based provider of engineering, consulting, and project management services, is tipped as a likely near/mid-term exit candidate as Helmet Capital’s ownership approaches eight years and Fimpec internationalizes - sales of EUR 51m (+23% YoY) and EBITDA of EUR 2m in FY23 (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 6, 2025
Warburg Pincus-backed Infoniqa acquires HS Hamburger Software to expand its ERP and HR capabilities in the DACH Region
Press Release
June 23, 2025

Update: The Connexxa-advised sales process of founder-owned SME-focused ERP vendor Hamburger Software is in its final stages, with a few bidders left, acc. to sources (NKP | M&A Insights Proprietary)

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May 16, 2025

Update: Founder-owned SME-focused ERP vendor Hamburger Software is moving ahead with Connexxa-advised sales process planned for later this year, acc. to several sources (NKP | M&A Insights Proprietary)

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October 6, 2025
French Infopro Digital, backed by TowerBrook, acquires automotive aftersales software Eucon Automotive from VHV Group to expand global market intelligence offering
Press Release
June 5, 2025

Update: the Houlihan Lokey-led sales process for the automotive aftersales software business of Eucon, a company owned by VHV Versicherungen, sees NBOs collected last week and targeting signing before the Holidays, marketed off 2024 revenues of EUR 50m and EBITDA of EUR 15m, acc. to sources (NKP | M&A Insights Proprietary)

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April 9, 2025

The automotive aftersales price- and product mgmt. software business of Eucon, a company owned by VHV Versicherungen and formerly a Hg portfolio firm, is being prepared for a sale this year amid 2024 revenue and EBITDA of EUR 50m and EUR 15m, acc. to sources (NKP | M&A Insights Proprietary)

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October 6, 2025
Triton-backed HVAC buy-and-built platform bluu unit enters Swiss market with acquisition of IPS Gebäudetechnik
Press Release
April 28, 2025

Privately-owned technical building equipment and HVAC specialist, IPS Gebäudetechnik from Switzerland, is reportedly in the market with Helbling Business Advisors marketed as “Project Air”, 2024 revenues of CHF 13m and EBITDA of CHF 4m - acc. to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 6, 2025
VIA Equity invests in Driversnote, a SaaS company specializing in automated mileage-tracking solutions, to accelerate global expansion
Press Release
February 6, 2025

Driversnote, a fast-growing bootstrapped SaaS company specializing in automated mileage-tracking solutions, has engaged EY Corporate Finance to explore strategic options - ARR of EUR +10m (+40% YoY) in FY24 (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 6, 2025
Deutsche Telekom acquires Austrian health IT specialist synedra to expand health data platform and AI capabilities
Press Release
February 20, 2024

Update: IMs are circulating for the founder-owned Health Content Management software provider Synedra, advised by i5invest with first bids due around the beginning of March, acc. to sources (NKP Proprietary)

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January 4, 2024

Synedra, the founder-owned provider of the Health Content Management software platform AIM for clinics in the DACH region, is preparing for a sale advised by corp. finance boutique i5invest according to multiple sources (NKP Proprietary)

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Headline from pre-deal coverage in M&A Insights
October 3, 2025
German investor AURELIUS acquires US-based Xylem Inc.’s international metering infrastructure ("AMI") business under the "Sensus" brand
Press Release
February 11, 2025

Xylem, Inc. is reportedly weighing a sale of its DACH advanced ("water") metering infrastructure ("AMI") business under the "Sensus" brand, as part of the US listed firm's ongoing portfolio optimization and increased focus on US market, this follows sales processes for competitors Qundis and Landis+Gyr, acc. to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
October 2, 2025
Italian company Labomar acquires Pharmia, a CDMO for food supplements and medical devices, from CapMan
Press Release
August 11, 2025

Update: CapMan’s exit process for Pharmia, a CDMO for food supplements and medical devices, is “live” with suitor dialogues commencing - Alantra advising, acc. to sources (NKP | M&A Insights Proprietary)

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January 16, 2025

CapMan has engaged Alantra to explore a potential sale of Pharmia, a contract developer and manufacturer of food supplements, probiotics and medical devices - Revenues of EUR ~20m and EBITDA of EUR 3-4m in 2024E (NKP | M&A Insights Proprietary)

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October 2, 2025
Private equity firm Copilot Capital acquires majority stake in e-commerce logistics software company Zendr
Press Release
May 1, 2025

E-commerce logistics software Zendr is exploring ownership options advised by EY Corporate Finance amid strong recent growth, acc. to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
September 29, 2025
AURELIUS to acquire Landis+Gyr's EMEA metering business for USD 215m - EV/EBITDA of 12.2x
Press Release
July 16, 2025

Update: final bids are expected to be collected end of July in the UBS-guided sales process of Swiss energy management solutions provider Landis+Gyr's EMEA business, with 2024 revenues and EBITDA of EUR 570m and EUR 15m respectively, acc. to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights
December 17, 2024

Update: Swiss energy management solutions company Landis+Gyr (publ.) has reportedly mandated Investment bank UBS to oversee a sale of its EMEA Business, following the announcement of a strategic review earlier this year (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights
September 29, 2025
Hoyer, backed by Capidea, Motortramp and CS Capital, is set to acquire maritime services provider VMS Group
Børsen
February 20, 2025

Update: NBOs are being collected in the Clearwater-advised sale process for VMS Group, a Denmark-based provider of maritime services, acc. to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights
January 27, 2025

VMS Group, a well-performing provider of maritime services, explores options advised by Clearwater with teasers having been distributed and IMs being shared from week 4, acc. to sources - revenue of DKK ~640m and EBITDA of DKK ~58m in FY24E (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights
September 26, 2025
Nordic Capital-backed specialist bank NOBA debuts on Nasdaq Stockholm with SEK 35bn valuation after oversubscribed IPO
Press Release
August 16, 2024

Nordic Capital has recently appointed Goldman Sachs, JP Morgan, and Carnegie to prepare an IPO of digital consumer bank NOBA Bank Group acc. to sources - LTM operating profit of SEK 1,611m as of March 2024 (NKP Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
September 24, 2025
Norges Bank Investment Management (NBIM), APG (investing on behalf of Dutch pension fund ABP) and Singapore sovereign wealth fund GIC acquire a 46% minority stake in German grid operator Tennet Deutschland from the Dutch Government for up to EUR 9.5
Press Release
August 21, 2025

Update: Norwegian Oljefondet and Dutch pension fund APG consider joint bid for German grid operator Tennet

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Headline from pre-deal coverage in M&A Insights
July 8, 2025

Update: CPP, GIC, CDPQ, CIP and Norges Bank Investment Management reportedly eye Billion-Euro stake in Tennet Deutschland amid capital raise plans

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September 24, 2025
US-based SLB (publ.) acquires Resman, a company specializing in wireless surveillance solutions for the oil and gas industry, from Nordic Capital
Press Release
January 20, 2025

Nordic Capital is reportedly preparing a 2025 exit for Resman, a company specializing in wireless surveillance solutions for the oil and gas industry, acc. to sources (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
September 24, 2025
Workplace management platform deskbird secures EUR 19m in Series B funding for European expansion
Press Release
January 10, 2025

Deskbird, a Swiss workplace management software provider, is looking to raise EUR 15m in a new funding round in 2025, based on strong ~80% YoY growth (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights
September 23, 2025
Apleona backed by Bain Capital acquires Smart Energy Group from EOS Partners
Press Release
May 22, 2025

Update: the Case Cassiopea-led sale of EOS Partners-owned SEG (Smart Energy Group)—a rapidly expanding buy-and-build platform in the HVAC installation sector focused on large-scale projects—is now live, with IMs distributed last Friday, May 16, under the project name “Project Hive” - with 2024 EBITDA of EUR ~15m and revenues of EUR 90m, acc. to sources (NKP | M&A Insights Proprietary)

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February 19, 2025

EOS Partners is reportedly preparing an exit of its portfolio firm Smart Energy Group, a fast-growing buy-and-build platform in the HVAC installation sector with a focus on large-scale projects, advised by Case Cassiopea and generating 2024 EBITDA of EUR ~15m and revenues of EUR 90m, acc. to sources (NKP | M&A Insights Proprietary)

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September 23, 2025
Hitachi’s GlobalLogic to acquire synvert from German PE Maxburg, strengthening AI and data capabilities across Europe and the Middle East
Press Release
April 11, 2025

Update: IMs are out since March and NBOs reportedly due this week in TCG/Lincoln-guided sale of Synvert, a data- and analytics focused IT consultancy owned by Maxburg since April, 2020 - acc. to sources (NKP | M&A Insights Proprietary)

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August 15, 2024

Private equity firm Maxburg is working with TCG Corporate Finance on an exit of its portfolio firm Synvert which the sponsor acquired in 2020, a group of data and analytics-focused IT consulting companies with 2024E adj. EBITDA of EUR ~33m, acc. to sources (NKP Proprietary)

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September 23, 2025
Procuritas acquires a majority stake in tech-enabled parking operator Parkman
Press Release
March 12, 2025

The owners of Parkman, a full-service parking management company, explore ownership options advised by HDR Partners with IMs having recently been distributed acc. to sources - Revenues of SEK ~620m and EBITDA of SEK ~40m in FY25E (NKP | M&A Insights Proprietary)

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Headline from pre-deal coverage in M&A Insights

Headline from pre-deal coverage in M&A Insights

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