Nordic M&A News
October 5, 2018

- Denmark -

Gabriel A/S to acquire fabric manufacturer in Lithuania (Borsen)

Danish furniture fabrics manufacturer, Gabriel has signed a conditional share purchase agreement with the owners of the Lithuanian fabric manufacturer UAB Baltijos Tekstilė for the purpose of taking over 100% of the share capital. The price for the shares is agreed at just over EUR 4m. Baltijos Tekstilė has 117 employees. Its revenue in 2017 was EUR 3.9m of which the majority was realized with Gabriel as the customer.

- Sweden -

ABG lists 24 Nordic potential acquisition candidates (DI)

ABG has identified 24 candidates with a high probability of being traded in the near future, primarily in the sectors: healthcare, IT and finance. The 24 potential candidates are: Akastor, Aker Solutions, Attendo,Axactor, B2 Holding, Benchmark Holdings, Bergenbio, Billerud Korsnäs, Bonesupport, Global Gaming 555, Humana, Irras, Loomis, Millicom, Monobank, Net Gaming, NKT, Nordic Nanovector, Norwegian, Odfjell Drilling, Otello, Proact, Q-Free and Tobii.

Trustly enters strategic partnership with Mintos (Press Release)

Nordic capital backed Trustly, a European payments company, has partnered with Mintos, a European online P2P marketplace for loans which provides retail investors with a way to invest in loans from around the world. By implementingTrustly’s direct online banking payments, Mintos now allows investment users to easily transfer funds in real-time to and from bank accounts across 29 European countries. Mintos is expected to reach 100,000 users by the end of the year.

Swedish Artificial Solutions raises EUR 13.6m (Press Release)

Artificial Solutions, a Stockholm-headquartered specialist in enterprise conversational AI, has announced that in its most recent funding round which was significantly oversubscribed, the company has raised a further EUR 13.6m in equity capital. The funding round, backed by existing investor Scope Capital, will help support global market growth and expansion of the company's product, Teneo.

- Norway -

Reitan Convenience acquires coffee chain in the Baltics (Press Release)

Norwegian Reitan Convenience has signed an agreement to acquire Caffeine Roasters, a coffee chain currently operating 60 coffee houses in Estonia, Latvia and Lithuania. The acquisition is part of Reitan Convenience’ vision of becoming Europe’s largest convenience operator. The Reitan Group consists of five independent business units: REMA 1000, Reitan Convenience, the Uno-X Group, Reitan Property and Reitan Capital. The Reitan Group had a turnover in 2017 (incl. franchise sales) of NOK 89bn and employs 37,000 people in Scandinavia and the Baltic region.

Belships to merge with Lighthouse Group (DN)

Belships has signed a merger agreement with the Lighthouse companies, which is owned by Kontrari AS. Belships will take over the assets, rights and obligations of the Lighthouse companies against the issue of 127,765,993 remuneration shares in Belships. The merger is based on an enterprise value of Belships of USD 37.66m. In addition, Sonata AS, who owned 67.05 percent of Belship, sells 14,285,714 shares to Kontrari for a total of NOK 100 million. The sale of shares means that Kontrari, controlled by Frode Teigen, will own 30.2 percent of Belships.

- Finland -

Souter Investments completes sale of (Press Release)

Souter Investments has announced that, the market leading Finnish intercity bus operator, has been acquired by Koiviston Auto. The turnover of the public transport company improved in the last fiscal year to just over EUR 30m. The company's operating profit was EUR 1.1m. The purchasing price is EUR 30-40m according to analyst estimates mentioned in the newspaper, Kauppalehti.

Offer by the Cabonline Group for Taksi Helsinki (Press Release)

The Cabonline Group has submitted an offer to acquire the assets of Taksi Helsinki Oy. The Board of Taksi Helsinki has now decided to give the company’s extraordinary general meeting on 24th of October the opportunity to consider the offer. Taksi Helsinki is Finland’s largest taxi dispatch company, with the Cabonline Group currently owning 7.5% of the company via a wholly-owned subsidiary. Taksi Helsinki’s operations include approximately 1,335 vehicles, of which 133 belong to Cabonline. In total, the company undertakes over seven million journeys each year.


Prepared by Anton Søeberg