Nordic M&A News
July 11, 2018

- Denmark -

Norwegian food company Scandza acquires Bodylab (Borsen)

The Norwegian food company, Scandza, who owns brands like Bisca and Karen Volf, acquires Danish Bodylab for an undisclosed amount. Bodylab, who recently entered the Norwegian and Swedish market, had a turnover of DKK 140m in 2017 compared to DKK 88m the year before. Operating income in 2017 was almost DKK 9m, although expectations were DKK 15-20m. Scandza already owns a number of food brands, including Danish Bisca and Karen Volf, and had sales of DKK 3.2bn in 2017.

Danish Tech Start-up Dental Media looking to expand to the US (Borsen)

Dental Media is a marketing company, who manages the marketing of social media for a large number of dentists in Denmark. The company is looking to expand from the Nordics to the US and is potentially looking towards getting a PE fund on board. Dental Media has in 2017 grown from 5 to 17 employees and reported a gross profit of DKK 4m in 2016/17.   

- Sweden -

THQ Nordic acquires the German game developer HandyGames (Cision)

The Swedish software company, THQ Nordic GmbH, has announced the acquisition of the game developer and publisher HandyGames, headquartered in Giebelstadt, Germany. THQ Nordic GmbH is acquiring 100% of the shares for a total cash consideration of EUR 1m. In addition, the parties have agreed on a potential performance-based earnout of up to EUR 1.5m. Founded in 2000, HandyGames has released more than 150 games on a multitude of platforms. 

IES acquires the remaining 50% of Spanish holding company (Cision)

Internationella Engelska Skolan in Sverige Holdings II AB has acquired the remaining 50% of the shares of joint venture International Education Partnership, S.L, which was incorporated in May 2018. The seller is IES’s collaborative partner in Spain, the Monzonis family. The expected purchase consideration for the 50% of IEP is EUR 12m. The operations within IEP will be consolidated into the IES group accounts and are in the financial year 2018/19 expected to generate revenues of EUR 15.3m and an EBITDA of EUR 2.9m. 

EQT to sell Sportradar to CPPIB and TCV consortium (Press Release)

EQT sells its 35% stake in Sportradar, a global leader in understanding and leveraging the power of sports data, to a consortium of CPPIB (Canada Pension Plan Investment Board) and TCV (Technology Crossover Ventures). The Transaction is valuing Sportradar at EUR 2.1bn. During EQT’s investment period Sportradar’s annual sales grew at a compound annual growth rate of more than 40% per year to approximately EUR 300m during the most recently completed twelve-month period. In the same period, Sportradar increased its headcount by 1,400, a rate of 25% per year. 

- Norway -

TeleComputing acquires Keystep – Strengthens cloud services areas (Digi)

IK investment Partner’s portfolio company, Telecomputing has made a number of acquisitions in recent years, and now the company reports that they have signed an agreement to buy another IT company, Norwegian Keystep. Keystep has more clients from the public in its portfolio and has clients in industries such as media, banking and finance, oil and gas and food. Keystep had a turnover of NOK 125m in 2017 and has 72 employees.

- Finland -

No news to report

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Prepared by Emil Tange Ohlsen