Extracts from our daily coverage

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December 19, 2025
Swedish industrial group Lifco acquires German optical instruments firm Karl Kaps
Press Release
September 10, 2025

Hamburg-based advisory firm Albia Capital is reportedly guiding a sales process for family-owned Karl Kaps Optik, a manufacturer of precision optical examination instruments for medical use as well as riflescopes, marketed under the name “Project Constellation” and off 2025E revenues of EUR 11m and an EBITDA of EUR 3m - acc. to multiple sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 18, 2025
Vitruvian Partners acquires majority stake in Norwegian AI aquaculture firm Aquabyte
Press Release
October 14, 2025

The owners of Aquabyte, a provider of AI-powered fish monitoring solutions, are working with ABG Sundal Collier to bring in a new growth partner, with IMs having been distributed, according to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 18, 2025
Dansk Ejerkapital acquires minority stake in legal tech firm Testaviva
Press Release
August 6, 2025

IMs are on the doorstep in Atrium Partners-advised process for legal tech company TestaViva, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 18, 2025
GENUI divests live communication platform BRACE Group to Hannover Finanz-backed Zeeh Design
Press Release
June 7, 2024

Stephens is guiding a joint sales process for the two live communication companies, GENUI-backed Brace Group and Hannover Finanz-backed Zeeh Design, respectively, marketed off aggregate EBITDA of EUR 10-12m - according to several sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 17, 2025
Verdane-backed software solutions provider Stratsys merges with Thoma Bravo-backed Hypergene, a Swedish SaaS company
Press Release
October 15, 2025

Update: IMs are currently being distributed in connection with the Baird-advised ownership explorations for Verdane-backed Stratsys, an ERP SaaS provider focused on GRC and ESG, acc. to multiple sources - Contracted ARR of SEK 300m for FY24/25 (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
March 6, 2025

The owners of Stratsys, an ERP SaaS provider focused on GRC and ESG, have recently mandated investment bank R.W. Baird to explore ownership options for the company with an expected launch in H2-2025 acc. to sources - Contracted ARR of SEK ~300m in FY24/25E (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 17, 2025
Plastics conglomerate SP Group (publ.) acquires Blue Equity's injection moulding company Idé-Pro for an EV of DKK 700m
Press Release
October 7, 2025

NBOs are to be collected within the coming weeks in the Clearwater-advised process for Blue Equity-backed Idé-Pro, a specialist in prototyping and low-volume production of complex components, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
June 24, 2025

Advised by Clearwater, Blue Equity is weighing exit options for Idé-Pro, a specialist provider of prototyping and low-volume production services of complex plastic and metal components, with teasers being in circulation - EBITDA of EUR ~13m in FY24/25E, according to sources (NKP | M&A Insights proprietary)

NKP | M&A Insights proprietary
Headline from pre-deal coverage in M&A Insights
December 15, 2025
Apheon acquires majority stake in global wood finishes specialist Rubio Monocoat from Bencis
Press Release
November 3, 2025

Rothschild is overseeing the sales process of global wood finishes specialist Rubio Monocoat, backed by Dutch PE Bencis since 2020, and headquartered in Belgium, marketed off 2025E adj. EBITDA of EUR 20m, sell-side material in circulation, and NBOs to be collected mid-November, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 15, 2025
Avista Capital-backed Vision Healthcare acquires Swedish health supplement brand BioSalma, confirming NKP's proprietary coverage
Press Release
September 5, 2025

The owners of BioSalma, a Swedish B2C food supplements brand, explore ownership options advised by Clearwater, with teasers being out, acc. to sources - EBITDA of SEK 45m in FY25E (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 15, 2025
One Equity Partners acquires Montanhydraulik, a specialist in large-scale hydraulic systems
Press Release
May 8, 2025

Update: process has kicked-off with teasers out since April in MCF Corporate Finance-guided sale of privately-owned Montanhydraulik, a specialist in engineered-to-order hydraulic cylinders used in construction machinery a.o., with estimated 2024 revenues of EUR ~250m and EBITDA of around EUR ~20m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 4, 2025

Company to watch: the private owners of Montanhydraulik, a specialist in the engineered-to-order manufacturing of hydraulic cylinders and systems, are working with MCF Corporate Finance to prepare a process to find investors for a succession solution, with estimated 2024 revenues of EUR ~250m and EBITDA of around EUR ~20m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 15, 2025
Equip Capital-backed Norwegian IT firm iteam acquires Sweden-based Avoki IT Services from Nalka Invest
Press Release
December 5, 2024

Update: Lincoln International is overseeing the upcoming ownership explorations for Nalka-owned Avoki, a Nordic IT company acc. to multiple sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 18, 2024

Following a successful rebranding and improved equity story, Nalka could be tempted to weigh ownership options next year for its Nordic IT company Avoki, according to multiple sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 14, 2025
SK Capital Partners to acquire Swixx Biopharma from HBM Healthcare Investments and Merieux Equity Partners, reportedly for EUR 1.5bn
Press Release
October 22, 2025

Update: NBOs are expected to be collected soon in the Jefferies and Centerview Partners-advised sales process of founder-owned Swiss-based Swixx Biopharma backed by HBM Healthcare Investments and Mérieux Equity Partners, 2024 revenues of EUR 1,500m and estm EBITDA of more than EUR 100m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 3, 2025

Update: Jefferies reportedly mandated for upcoming auction process for Swixx Biopharma, a distributor of rare diseases prescription- and OTC medicines backed by Merieux Equity Partners since 2021, 2024 EBITDA of around EUR 85m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 12, 2025
Brückner Group acquires polyurethane machinery specialist Hennecke from Capvis
Press Release
February 24, 2025

Timing currently uncertain in Baird-advised potential sale of Hennecke, a Capvis portfolio firm and maker of high-quality machinery equipment and systems for polyurethane (“PUR”) processing, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 10, 2025
Main Capital Partners acquires majority stake in German logistics software provider EIKONA
Press Release
November 10, 2025

The founders of EIKONA, a provider of bespoke SaaS solutions for the e-commerce as well as the logistics industry, have tapped local M&A advisory firm Walter Fries CF to oversee ownership explorations expected to kick off still in 2025 and likely marketed off 2025E EBITDA of EUR 5-6m, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 10, 2025
Finnish steel company Miilux acquires Metso (publ.) loading and hauling business in Finland and Sweden
Kauppalehti
September 30, 2025

Update: Metso’s process to divest its loading and hauling operations in Finland and Sweden is live with Deloitte Corporate Finance advising, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 9, 2025
Axcel-backed SuperOffice, a Norway-based CRM provider, acquires Finnish SaaS company Lyyti from Vaaka Partners
Press Release
October 15, 2025

Update: IMs have been shared in Vaaka Partners’ exit process for Lyyti, a Finnish event management software company, advised by Stifel, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
September 17, 2025

Vaaka Partners has appointed Stifel to guide its exit explorations for Lyyti, a Finnish event management SaaS company owned since 2019, with early-stage preparations ongoing, acc. to sources - Sales of EUR ~10m in 2025E (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 9, 2025
Swiss investment firm Capital Transmission makes a minority investment in dentist network platform Dentacore
Press Release
August 22, 2025

UBS is reportedly running a sales process for privately-owned dentist network platform and education provider Dentacore, with expected 2025E EBITDA of CHF 50m, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 9, 2025
UK-based infrastructure investor Ancala acquires German flexible space rental company MUCH Gruppe
Press Release
April 23, 2025

Update: "Project Rabbit Space", the ongoing sale of family-owned Much Gruppe - a provider of flexible space rentals - saw sell-side materials in circulation since early February, current status unknown, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
February 11, 2025

The family-owned flexible space rental company MUCH Gruppe is reportedly exploring ownership options advised by an investment bank, marketed under “Project Rabbit Space” and a 2024 EBITDA of EUR 12m, acc. to sources (NKP | M&A Insight Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 9, 2025
Swedish sports and outdoor equipment group Wesports (publ.) raises SEK 400m in oversubscribed Nasdaq First North Premier Growth Market IPO
Press Release
January 29, 2025

Company to watch: WeSports, a fast-growing consolidator of sports and leisure equipment brands focusing on e-commerce, is expected to leverage favorable market conditions as IPO activity increases in 2025 (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 8, 2025
Munich-based Afinum acquires software engineering and consulting firm DPS Engineering
Press Release
November 20, 2025

Dr. Schwarz-Schilling & Partners is reportedly overseeing the sales process of family-controlled DPS Engineering, an end-to-end software development and IT consulting provider - 2025E revenues of around EUR 30m - acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 8, 2025
Swiss investor Invision acquires German engineering services provider R&K Group as BWK exits and management reinvests
Press Release
November 10, 2025

Update: second-round bids are reportedly due this week in the IMAP-led sale process of BWK-backed engineering firm R&K Ingenieure - 2025E EBITDA of EUR 7m and revenues of EUR 29m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
October 6, 2025

IMAP is overseeing the sales process of engineering office R&K Ingenieure, backed by BWK Unternehmersbeteiligung since 2023, marketed under Project Keystone and off 2025E EBITDA of EUR 7m and revenues of EUR 29m, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 8, 2025
Altor acquires Evac, a global water and waste management systems provider, from Bridgepoint at an EV of over EUR 600m and EV/EBITDA of at least 12.8x
Bloomberg Deals
October 1, 2025

Update: NBOs are expected in mid-October in Bridgepoint’s exit process for Evac, a global water and waste management systems provider, advised by Citi, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Poprietary
Headline from pre-deal coverage in M&A Insights
September 11, 2024

Company to watch: Bridgepoint is preparing Evac, a Finland-based provider of sustainable waste, wastewater, and water management systems held since 2017, for a possible exit process expected for H1-2025, acc. to sources (NKP Proprietary)

NKP | M&A Insights Poprietary
Headline from pre-deal coverage in M&A Insights
December 7, 2025
France based SPIE acquires CYQUEO to expand cybersecurity offerings
Press Release
October 17, 2025

German cybersecurity provider Cyqueo is preparing a sale advised by Lincoln International, with IMs on the doorstep and first bids expected by mid-November - 2025E revenues of EUR 20m and EBITDA of EUR 3m, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 7, 2025
Pollen Street-backed Keylane acquires Heywood, a UK pension technology provider, from Blackrock
Press Release
September 6, 2025

IMs are being circulated in the Evercore-advised sales process for Heywood, a UK-based pensions technology specialist owned by Blackrock, with NBOs expected in early October, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights
December 5, 2025
Germany-based construction services group Hagedorn acquires crane and heavy haulage provider Hüffermann Gruppe
Press Release
September 3, 2025

Update: the Stephens-advised sales process of privately-owned crane rental company Hüffermann Krandienst, which is marketed off expected 2025E EBITDA of EUR 75m, is live with initial bids collected over the summer, acc. to sources (NKP | M&A Insights Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
November 18, 2024

Stephens is overseeing the sale process of family-owned crane rental company Hüffermann Krandienst, which is marketed off 2024 EBITDA of EUR 60m, teasers and IMs have been out since October, acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary
Headline from pre-deal coverage in M&A Insights
December 4, 2025
Finnish electronic manufacturer Incap (publ.) acquires German EMS company Lacon Electronic from Hannover Finanz - EV/EBITDA (2025E) of 6.9x
Press Release
April 9, 2025

Lacon Electronic, an electronic manufacturing services ("EMS") provider owned by Hannover Finanz since 2019, is being prepared for a sale with Carlsquare mandated, estimated EBITDA of EUR 10m, acc. to sources (NKP | M&A Insights Proprietary)

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

Headline from pre-deal coverage in M&A Insights

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