Extracts from our daily coverage

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January 16, 2024

Update: Handelsblatt confirms NKP's coverage of Techem's ownership considerations

Handelsblatt

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

January 12, 2024

Finn secures EUR 100m in Series C funding round to double its electric vehicle fleet

Press Release

December 4, 2024

Finn, a VC-backed fast-growing provider of all-inclusive car subscriptions, is looking for investors for a capital raise or potentially minority stake sale in a process run without a formal corporate finance advisor, 2024E ARR of EUR 163m, acc. to sources ESG FRIENDLY (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 11, 2024

Novo Holdings and Lundbeckfonden divest Danish biotech firm Afyx Therapeutics to Inphena, owned by Genmab co-founder

MedWatch

Headline from pre-deal coverage in M&A Insights

September 26, 2022

Danish biopharmaceutical company Afyx Therapeutics looks to raise EUR 15-60m in Series B round (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 10, 2024

Swedish private equity firm Monterro acquires ag analytics, a Danish ERP add-on SaaS solutions provider for the automotive aftersales market

Press Release

Headline from pre-deal coverage in M&A Insights

October 12, 2023

ag analytics, a Danish provider of ERP add-on SaaS solutions for the automotive aftersales market, explores ownership options advised by Deloitte Corporate Finance, acc. to sources - ARR of DKK 32m in FY23E with profitable growth (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 9, 2024

Finnish media firm Sanoma (publ.) divests its German subsidiary Stark

Kauppalehti

Headline from pre-deal coverage in M&A Insights

October 12, 2020

The Pandemic's boost of DIY and home improvement projects could accelerate exit of Lone Star's 2017 investment in Stark (NKP Analysis)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 5, 2024

Finnish sports equipment manufacturer Amer Sports files for an IPO in the US

Press Release

Headline from pre-deal coverage in M&A Insights

January 3, 2023

Anta Sports-led investor consortium is preparing a relisting of Finnish Amer Sports advised by Goldman Sachs acc. to multiple sources - sales of EUR 1,312m with EBITDA of EUR 96.9m in H1-2022 (6 months) (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 5, 2024

Norwegian ship recycling company Grieg Green acquires the majority of Danish ReFlow, a lifecycle analysis provider

Press Release

Headline from pre-deal coverage in M&A Insights

July 28, 2022

ReFlow in talks with potential investors ahead of upcoming financing rounds to raise approx. EUR 18m (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 5, 2024

Lagkagehuset receives an additional DKK 50m investment from Nordic Capital and L Catterton

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

January 4, 2024

Update: Børsen confirms NKP's coverage of Jytas' ownership considerations

Børsen

Headline from pre-deal coverage in M&A Insights

November 16, 2023

Privately owned Jytas, a specialist provider of prefabricated modular buildings, explores ownership options advised by Clearwater International, acc. to sources - EBITDA of DKK +75m in FY23E (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 4, 2024

Bagger-Sørensen Equity-backed Motus Nordic acquires NTO Automation, a Danish automation and software company

Press Release

Headline from pre-deal coverage in M&A Insights

February 17, 2023

Company to watch: NTO Automation, a Danish industrial automation company continues its steady growth trajectory to deliver revenue growth of +12.6% YoY and reach EBIT of DKK 10.3m in FY 2022E - Ownership options are being considered (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 29, 2023

Telecommunications operator Elisa (publ.) acquires the fibre network assets of competitor Elenia Group

Press Release

Headline from pre-deal coverage in M&A Insights

September 29, 2023

Finland's second-largest electricity network operator Elenia Group has appointed ICECAPITAL to advise on its efforts to sell its fibre network, with a process launch expected in the fall, acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 27, 2023

Swedish Lagercrantz Group (publ.) acquires 85% of Swedish Nordic Road Safety at EV/EBITA of 6.5x

Press Release

Headline from pre-deal coverage in M&A Insights

October 13, 2023

The owners of Nordic Road Safety, a provider of permanent road safety products and services, are preparing a possible sale advised by Access Partners according to sources - revenue of SEK 287m (+35% YoY) and EBITDA of SEK 39.5m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 22, 2023

German-headquartered global logistics company Dachser acquires Frigoscandia, a Swedish provider of temperature-controlled logistics services, from Mutares for SEK 734m

Press Release

October 30, 2023

Update: NBOs are due in November for the Carnegie-led sale process for Mutares-owned Frigoscandia, a Swedish provider of temperature-controlled logistics services, with IMs having been distributed, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

July 7, 2023

Company to watch: Frigoscandia, a provider of temperature-controlled logistics services and a portfolio company of Mutares since 2021, is being prepared for an exit in the near-mid term, acc. to multiple sources - revenues of SEK 3,200m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 22, 2023

Chemical company BASF and Investment company LetterOne plan to divest gas and oil business Wintershall Dea to Harbour Energy

Press Release

Headline from pre-deal coverage in M&A Insights

November 24, 2023

ADNOC is considering the acquisition of BASF's Wintershall Dea unit

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 21, 2023

OpenGate Capital-backed Jøtul, a Norwegian manufacturer of stoves and fireplaces, issues NOK 510m bond

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 21, 2023

Adelis partners up with EQT to invest in Hantverksdata and Next One Technology, two Swedish software providers to tradespeople and the construction industry

Press Release

Headline from pre-deal coverage in M&A Insights

April 1, 2022

Company to watch: Hantverksdata, a Swedish SaaS solutions provider for craftsmen owned by Adelis since 2018, has performed strongly during Covid-19 and is drawing interest from sponsors following five add-ons, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 20, 2023

Update: PE firm Axcel plans to divest Danish Ship Finance (Danmarks Skibskredit) in H1-2024 according to news media

Borsen

December 7, 2022

Update: NBOs are due in late December in ongoing sale of Axcel-owned Danish Ship Finance (Danmarks Skibskredit) according to multiple sources, see also our proprietary article from 05 October (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

October 5, 2022

Ownership consortium comprising Axcel, PFA & PKA is preparing for a possible sale of Danish Ship Finance advised by investment bank MW&L Capital according to sources - net profit guidance of DKK 275m - 335m for FY 2022E (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 20, 2023

Norwegian investment firm Ferd acquires a 25% stake in Norwegian ocean technology group General Oceans at an EV of NOK 1,650m and an EV/EBIT of 11x

Headline from pre-deal coverage in M&A Insights

December 14, 2023

Company to watch: General Oceans, a group of companies developing and manufacturing oceanographic sensors, underwater robotic vehicles, and manipulators, explores ownership options advised by Nordea according to multiple sources - Revenues of NOK 640m and EBITDA of NOK 146m in FY22 (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

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

US-based PE firm American Industrial Partners acquires Aquaship and Intership from AMERRA Capital and Alchemy Partners, respectively, and merges them

Press Release

May 12, 2023

Update: Arctic Securities-advised sale of wellboat services firm Intership, a situation and mandate first covered exclusively by NKP on 27 January, is gaining speed with NBOs set to be collected around end-May, acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 30, 2023

Update: first and exclusively covered by NKP on 27 Jan 2022, the planned sale of wellboat services firm Intership is taking shape with Arctic Securities now mandated, acc. to sources (NKP Proprietary)

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

Extracts from our daily coverage

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)

Danish biopharmaceutical company Afyx Therapeutics looks to raise EUR 15-60m in Series B round (NKP Proprietary)

ag analytics, a Danish provider of ERP add-on SaaS solutions for the automotive aftersales market, explores ownership options advised by Deloitte Corporate Finance, acc. to sources - ARR of DKK 32m in FY23E with profitable growth (NKP Proprietary)

The Pandemic's boost of DIY and home improvement projects could accelerate exit of Lone Star's 2017 investment in Stark (NKP Analysis)

Anta Sports-led investor consortium is preparing a relisting of Finnish Amer Sports advised by Goldman Sachs acc. to multiple sources - sales of EUR 1,312m with EBITDA of EUR 96.9m in H1-2022 (6 months) (NKP Proprietary)

ReFlow in talks with potential investors ahead of upcoming financing rounds to raise approx. EUR 18m (NKP Proprietary)

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)

Privately owned Jytas, a specialist provider of prefabricated modular buildings, explores ownership options advised by Clearwater International, acc. to sources - EBITDA of DKK +75m in FY23E (NKP Proprietary)

Company to watch: NTO Automation, a Danish industrial automation company continues its steady growth trajectory to deliver revenue growth of +12.6% YoY and reach EBIT of DKK 10.3m in FY 2022E - Ownership options are being considered (NKP Proprietary)

Finland's second-largest electricity network operator Elenia Group has appointed ICECAPITAL to advise on its efforts to sell its fibre network, with a process launch expected in the fall, acc. to multiple sources (NKP Proprietary)

The owners of Nordic Road Safety, a provider of permanent road safety products and services, are preparing a possible sale advised by Access Partners according to sources - revenue of SEK 287m (+35% YoY) and EBITDA of SEK 39.5m in FY22 (NKP Proprietary)

Update: NBOs are due in November for the Carnegie-led sale process for Mutares-owned Frigoscandia, a Swedish provider of temperature-controlled logistics services, with IMs having been distributed, acc. to sources (NKP Proprietary)

Company to watch: Frigoscandia, a provider of temperature-controlled logistics services and a portfolio company of Mutares since 2021, is being prepared for an exit in the near-mid term, acc. to multiple sources - revenues of SEK 3,200m in FY22 (NKP Proprietary)

ADNOC is considering the acquisition of BASF's Wintershall Dea unit

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

Company to watch: Hantverksdata, a Swedish SaaS solutions provider for craftsmen owned by Adelis since 2018, has performed strongly during Covid-19 and is drawing interest from sponsors following five add-ons, acc. to sources (NKP Proprietary)

Update: NBOs are due in late December in ongoing sale of Axcel-owned Danish Ship Finance (Danmarks Skibskredit) according to multiple sources, see also our proprietary article from 05 October (NKP Proprietary)

Ownership consortium comprising Axcel, PFA & PKA is preparing for a possible sale of Danish Ship Finance advised by investment bank MW&L Capital according to sources - net profit guidance of DKK 275m - 335m for FY 2022E (NKP Proprietary)

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)

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)

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)

Update: Arctic Securities-advised sale of wellboat services firm Intership, a situation and mandate first covered exclusively by NKP on 27 January, is gaining speed with NBOs set to be collected around end-May, acc. to multiple sources (NKP Proprietary)

Update: first and exclusively covered by NKP on 27 Jan 2022, the planned sale of wellboat services firm Intership is taking shape with Arctic Securities now mandated, acc. to sources (NKP Proprietary)

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)

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

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)

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)

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)

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