Extracts from our daily coverage

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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 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

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 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 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

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 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 14, 2023

US-based tax software provider Vertex (publ.) announces a public takeover offer for Swedish SaaS provider Pagero Group (publ.) at an EV of SEK 5,900m and EV/ARR of 7.8x

Press Release

Headline from pre-deal coverage in M&A Insights

September 11, 2020

Backed by Summa Equity since 2017, document mgmt. SaaS firm Pagero delivers sales of SEK 310m in 2019 (+17%) - Summa could realize +2x return if sold (NKP analysis)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 12, 2023

Danish private equity firm Capidea acquires IT freelance provider Right People Group

Press Release

Headline from pre-deal coverage in M&A Insights

October 3, 2023

Right People Group, a Danish freelance-based IT consultancy, explores ownership options advised by PwC Corporate Finance, with sell-side material having recently been distributed, acc. to sources - revenues of DKK 351m and EBITDA of DKK 24m in FY22/23E (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 8, 2023

Greenergy Invest acquires a significant minority stake in Danish solar cell roof manufacturer Solartag

Finans

Headline from pre-deal coverage in M&A Insights

February 14, 2023

Danish solar cell roof company Solartag looks for a new majority owner (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

December 7, 2023

Private investment firm VRTY Capital acquires a minority stake in installation and services provider Amalo for an undisclosed amount

Other

Headline from pre-deal coverage in M&A Insights

November 8, 2022

The owners of Amalo, an installation and services provider specialised in heat pumps and energy recovery solutions, explore options advised by Nordic M&A - marketed off 2022E EBITDA of DKK 7m acc. to sources (NKP Proprietary)

NKP | M&A Insights Proprietary

Headline from pre-deal coverage in M&A Insights

Extracts from our daily coverage

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)

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)

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: 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)

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)

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)

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)

Backed by Summa Equity since 2017, document mgmt. SaaS firm Pagero delivers sales of SEK 310m in 2019 (+17%) - Summa could realize +2x return if sold (NKP analysis)

Right People Group, a Danish freelance-based IT consultancy, explores ownership options advised by PwC Corporate Finance, with sell-side material having recently been distributed, acc. to sources - revenues of DKK 351m and EBITDA of DKK 24m in FY22/23E (NKP Proprietary)

Danish solar cell roof company Solartag looks for a new majority owner (NKP Proprietary)

The owners of Amalo, an installation and services provider specialised in heat pumps and energy recovery solutions, explore options advised by Nordic M&A - marketed off 2022E EBITDA of DKK 7m acc. to sources (NKP Proprietary)

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