Extracts from our daily coverage

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November 10, 2023
Alder divests electrical grid and metering solutions company Aidon to CVC Capital- and Enel Group-owned Gridspertise
Press Release
March 6, 2023

Alder-backed Aidon, a provider of smart grid and smart metering technology and services, explores ownership options advised by Bryan, Garnier & Co. with NBOs being due towards the end of March 2023 - adj. EBITDA of approx. EUR 7m in 2022 acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 23, 2020

PE-firm Alder to exit Finnish technology company Aidon in Q1 2021

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 1, 2023
DIF Capital Partners and EDF Invest acquire Norwegian ferry company Fjord1 from Vision Ridge Partners and Havila Holding for a price of approx. NOK 4,000m, acc. to media estimates - EV/EBITDA (2022) of 6.5x
Press Release
September 28, 2023

Update: Final bids are due in October in Rothschild-advised sale of Norwegian ferry company Fjord1, Basalt Infrastructure among potential suitors, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 1, 2023

Vision Ridge Partners and family office Havila mandate Rothschild to pursue a sale of Norwegian ferry operator Fjord1, targeting a Q3 process with teasers going out shortly, according to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 31, 2023
Swedish telecommunication company Telia (publ.) merges ICT services subsidiary Telia Inmics-Nebula's business operations into Telia Cygate
Press Release
October 14, 2022

Update: Telia is pushing forward with the possible divestment of its ICT services subsidiary Telia Inmics-Nebula with teaser material being "on the doorstep" acc. to sources - investment bank (known to NKP) advising (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 31, 2022

Telecommunications firm Telia is in the early phase of preparing for a carve-out of its Finnish ICT business, Telia Inmics-Nebula ("TIN"), according to multiple sources in the private equity environment - 2020 revenue of EUR 158.5m and unadjusted EBITDA of EUR 11.7m

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 27, 2023
Global PE firm Rhône acquires a 40% stake in Orkla Food Ingredient, part of Norwegian good conglomerate Orkla (publ.), at an EV of NOK 15,500m - EV/EBIT of 14.1x
Press Release
September 1, 2023

Update: BofA-guided sale of Orkla Food Ingredients reaches an advanced stage, acc. to several sources - strong H1-2023 financials show 16% organic growth (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 24, 2022

A sale is the main avenue being explored in relation to Orkla's recently announced intention to seek out partners for its Food Ingredients division, with an investment bank mandated, acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 6, 2023
US-based investment company Crestline acquires Dansk Ejerkapital-backed ICEpower, a Danish provider of turnkey audio solutions and amplifier modules
Borsen
September 15, 2023

Company to watch: Dansk Ejerkapital-backed ICEpower reports gross profit of DKK 137m and EBITDA of DKK 75m in FY22/23

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 20, 2021

Well-performing audio solutions provider ICEpower backed by Dansk Ejerkapital (formerly Industri Udvikling) since 2016 expects revenue of nearly DKK 200m in 2020/21 with solid EBITDA - exit may be on the horizon acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 3, 2023
Nordic Capital-backed Autocirc issues SEK 130m senior secured bonds
Press Release
October 14, 2022

Update: non-binding offers recently submitted as Carnegie-advised sale of Alder-owned Autocirc gains speed - opportunity first and exclusively covered by NKP on 31 Aug (NKP Proprietary) *ESG FRIENDLY*

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 31, 2022

Alder mandates Carnegie in early preparations for a sale of portfolio company since 2020, Autocirc - a circular recycling concept within the automotive parts space - with 2021 pro-forma revenues of SEK 630m and adjusted EBITDA of SEK 99m (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 25, 2023
Update: Media outlet confirms NKP's coverage of ongoing exit explorations for Sports Group Denmark (Watchmedier/NKP Proprietary)
Watchmedier
June 20, 2023

Update: Dansk Ejerkapital-backed Sports Group Denmark grows revenue to DKK 1,107m (+40% YoY) with EBITDA of DKK 147.2m in FY22 - Ownership options are being explored advised by Carnegie acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 4, 2021

High-growth sports apparel company Sports Group Denmark backed by Industri Udvikling (since 2016) reaches revenue of DKK 600m (+20% YoY) w. EBITDA of DKK 49m in 2020, expects +35-40% growth in 2021 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 13, 2023
PE company Dansk Ejerkapital acquired a minority stake in Danish marketing company Standoutmedia
Press Release
February 16, 2022

(Update) Privately-held Danish Standoutmedia continues its roll-up play within the digital agency space and expects to deliver EBITDA of DKK 40m in 2022 - would consider inbound approaches from financial sponsors (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 27, 2020

Standoutmedia considers bringing in external capital to accelerate lucrative roll-up play within the digital agency space, 27% Y-o-Y revenue growth targeting EBITDA of DKK 17m in 2020 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 4, 2023
Apave Group acquires EV Private Equity-backed Trainor
Press Release
August 16, 2023

Update: Houlihan Lokey-advised sale of Norwegian e-learning provider and EV Private Equity-owned Trainor has reached an advanced stage, acc. to several sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 4, 2022

EV Private Equity is preparing for a sale of Trainor Group, a specialist electrical safety e-learning and training provider to Nordic energy and industrial companies, with 2021 revenue of NOK 128.3m and EBITDA of NOK 18m, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 1, 2023
Bridgepoint acquires trademark protection software and service SaaS provider Ports Group from Priveq
Press Release
June 13, 2023

Update: three bidders have progressed into the second round of the EY-led sale of Priveq-owned Ports Group acc. to sources - marketed off revenues of approx. SEK 300m and EBITDA of SEK +100m in 2023E (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 24, 2022

Company to watch: owned by Priveq since 2015 and currently the last company in the sponsor's 2011 Fund IV, trademark protection software and service SaaS provider Ports Group delivers 2021 revenue of SEK 150m and is "more than exit ripe" according to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 30, 2023
German consulting company Valantic acquires Danish Blue Equity-backed Inspari, a Danish data analytics and business intelligence consultancy
Press Release
May 15, 2023

Update: NBOs due mid-May in Carnegie-advised sale of Blue Equity-backed Inspari, an IT consultancy specialising in business intelligence solutions - first covered exclusively by NKP on 14 March (NKP Proprietary)

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

Blue Equity-backed Inspari, a Danish data analytics and business intelligence consultancy, is being prepared for a possible sale advised by Carnegie acc. to sources - revenue of DKK 157m and EBITDA of DKK 17m in 2021 with "significant growth" expected in 2022 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 25, 2023
Pollen Street Capital acquires Assessio, a Swedish HR SaaS firm, from Main Capital at an EV/sales of approx. 6x
Press Release
August 1, 2023

Update: The sale process for Main Capital-owned HR SaaS firm Assessio progresses to the due diligence phase, William Blair advising (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 27, 2023

Update: William Blair mandated for upcoming majority sale of Main Capital-owned candidate assessment SaaS solutions provider Assessio - first and exclusively covered in NKP's Pitch of the Day on 22 March 2022 (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 3, 2023
The sale process for Catacap's portfolio firm TP Aerospace is still ongoing - The company expects double digit growth in 2023
KapWatch
March 8, 2023

Update: teaser is out in planned sale of Catacap-backed TP Aerospace which is marketed of 2023 budget EBITDA of USD 72m with cash EBITDA budgeted at around USD 35m (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
August 31, 2022

Advised by FIH Partners, CataCap is preparing for an exit of its 2017 investment in aviation aftermarket company, TP Aerospace, as performance rebounds - expected EBITDA of DKK 250-300m in 2022 acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 28, 2023
US-based home renovation company Masco Corporation acquires Finnish Sauna360 Group
Kauppalehti
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
July 18, 2023
Danish restaurant chain Madklubben looks to ramp up acquisitions
KapWatch
June 16, 2022

Finnish PE fund Bocap looks to acquire 6-8 companies in its third fund, prepares to raise up to EUR 300m in Fund IV towards end of 2023

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 29, 2020

Jula with strong financial muscle to acquire businesses

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 18, 2023
Hg Capital-backed Visma looks to continue its acquisition spree in H2-2023
Press Release
June 16, 2022

Finnish PE fund Bocap looks to acquire 6-8 companies in its third fund, prepares to raise up to EUR 300m in Fund IV towards end of 2023

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
May 29, 2020

Jula with strong financial muscle to acquire businesses

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
July 10, 2023
EMK Capital acquires Norwegian perimeter security solution provider Garda Sikring
Press Release
March 8, 2023

Update: With NBOs having recently been submitted, the Carnegie-led sale process for Longship-owned Garda Sikring progresses to the second round acc. to sources - EBITDA of NOK ~150m in 2022E (NKP Proprietary)

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

Longship-backed Garda Sikring enters Finland through the acquisition of Puomitek - Carnegie mandated to explore a possible sale of Garda Sikring Group following continued strong growth to reach LTM group revenue of NOK +850m and EBITDA of NOK ~150m acc. to sources (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 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 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 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 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 2, 2023
Bloomberg confirms sales process of Danish EQT-owned Ellab - Valuation likely around EUR 1bn
Bloomberg
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

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