Extracts from our daily coverage

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January 22, 2024

Swedish ventilation solutions group Lindab (publ.) acquires Airmaster at an initial purchase price of DKK 650m with a maximum earn-out of DKK 400m

Press Release

November 1, 2023

Update: NBOs are soon to be submitted in the EY-advised sale of Airmaster, a provider of decentralised ventilation systems, acc. to multiple sources (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

September 14, 2023

Airmaster, a well-performing Danish provider of decentralized ventilation systems, explores ownership options advised by EY Corporate Finance with IMs on the doorstep, acc. to sources - revenue of DKK 550-600m and EBITDA of approx. DKK 140-150m in 2023E (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 22, 2024

Keensight Capital-backed biopharmaceutical company Biovian receives a funding package from French investment firm Eurazeo

Press Release

April 28, 2023

Process that went quiet: William Blair led sale of Keensight Capital-owned CDMO firm Biovian went quiet after NBOs were collected in December, unclear if process is still going (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

October 4, 2022

Update: William Blair-led process for Keensight Capital-backed CDMO company Biovian to launch in the coming weeks acc. to sources - revenue of EUR 18.7m with EBITDA of EUR 5.3m in 2021 (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 22, 2024

European Energy CEO mulls an IPO following its 20% stake sale to Mitsubishi HC Capital

Børsen

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

January 22, 2024

Finnish company Amer Sports is aiming to raise up to USD 1,800m in its upcoming IPO

Bloomberg

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 20, 2024

Altor-backed business outsourcing firm Transcom issues bonds at a value of EUR 65m

Press Release

June 30, 2023

Update: Advised by Rothschild, Altor is now (again) pushing forward with the sale explorations for Transcom following an abandoned dual-track process last year according to multiple sources - FY22 revenue of EUR 717m (+15% YoY) with adj. EBITDA of EUR 93.3m (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 4, 2021

Altor-backed BPO firm Transcom may return to the stock exchange in 2021 according to rumors, strong current trading with +7.6% organic growth in Q3-2020, could be valued at EUR 1 billion (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 19, 2024

Mitsubishi HC Capital (publ.) acquires a 20% stake in Danish sustainable energy company European Energy at an EV of EUR 4,730m and EV/EBITDA of 26x

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

January 19, 2024

Commerzbank acquires majority stake in Hamburg-based asset manager Aquila Capital

Press Release

Headline from pre-deal coverage in M&A Insights

December 22, 2023

Aquila Capital is mulling a sale of its Aquila Clean Energy arm - a developer and operator of renewable energy assets across Europe and APAC - with advice from Citigroup since the early autumn, according to multiple sources (ESG friendly)(NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 19, 2024

Sustainable tech company Trustrace raises SEK 250m in a new funding round led by Circularity Capital

Press Release

Headline from pre-deal coverage in M&A Insights

March 5, 2021

Swedish TrusTrace looking for a EUR 6m capital raise - investors encouraged to initiate contact (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 18, 2024

Israeli real estate firm Azrieli Group is considering options for its data center arm, the Norway-based Green Mountain, including a potential IPO, according to news media

Bloomberg

Headline from pre-deal coverage in M&A Insights

March 10, 2021

Goldman Sachs mandated for the sale of Smedvig-owned Green Mountain

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

January 17, 2024

Update: IMs are out in the ABGSC-advised sale process for Norwegian fish health company STIM

IntraFish

Headline from pre-deal coverage in M&A Insights

December 4, 2023

Privately held STIM, a leading fish health products and services company, explores ownership options advised by ABG Sundal Collier with IMs out according to sources - Sales of NOK 1,206m in FY22 with expected topline growth in FY23E (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

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

Extracts from our daily coverage

Update: NBOs are soon to be submitted in the EY-advised sale of Airmaster, a provider of decentralised ventilation systems, acc. to multiple sources (NKP Proprietary)

Airmaster, a well-performing Danish provider of decentralized ventilation systems, explores ownership options advised by EY Corporate Finance with IMs on the doorstep, acc. to sources - revenue of DKK 550-600m and EBITDA of approx. DKK 140-150m in 2023E (NKP Proprietary)

Process that went quiet: William Blair led sale of Keensight Capital-owned CDMO firm Biovian went quiet after NBOs were collected in December, unclear if process is still going (NKP Proprietary)

Update: William Blair-led process for Keensight Capital-backed CDMO company Biovian to launch in the coming weeks acc. to sources - revenue of EUR 18.7m with EBITDA of EUR 5.3m in 2021 (NKP Proprietary)

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)

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)

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)

Update: Advised by Rothschild, Altor is now (again) pushing forward with the sale explorations for Transcom following an abandoned dual-track process last year according to multiple sources - FY22 revenue of EUR 717m (+15% YoY) with adj. EBITDA of EUR 93.3m (NKP Proprietary)

Altor-backed BPO firm Transcom may return to the stock exchange in 2021 according to rumors, strong current trading with +7.6% organic growth in Q3-2020, could be valued at EUR 1 billion (NKP Proprietary)

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)

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)

Aquila Capital is mulling a sale of its Aquila Clean Energy arm - a developer and operator of renewable energy assets across Europe and APAC - with advice from Citigroup since the early autumn, according to multiple sources (ESG friendly)(NKP Proprietary)

Swedish TrusTrace looking for a EUR 6m capital raise - investors encouraged to initiate contact (NKP Proprietary)

Goldman Sachs mandated for the sale of Smedvig-owned Green Mountain

Privately held STIM, a leading fish health products and services company, explores ownership options advised by ABG Sundal Collier with IMs out according to sources - Sales of NOK 1,206m in FY22 with expected topline growth in FY23E (NKP Proprietary)

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)

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