Nordic M&A News
September 7, 2018

- Denmark -

Kirk Kapital increases commitment to Ferrosan (Press Release)

In 2016, KIRK acquired a 30% ownership interest in Ferrosan Medical Devices, which they own together with majority shareholder, Impilo, and select private individuals. In connection with a larger refinancing of FMD completed in August 2018, Kirk Kapital has further increased its investment, by subscribing to a preference share class.

Via Equity Partners invests in Advania (Press Release)

VIA and PFA (PFA is a limited partner in VIA equity Fond III) invest in Advania. Advania was formed in 2012 when several branches of IT companies merged and today the company has more than 1,100 employees in 22 offices located primarily in Iceland and Sweden with a wide range of product and service offerings including managed services, IT infrastructure & integration and business solutions. VIA and PFA have acquired a minority stake in Advania.  

Carlsberg is looking for strategic acquisitions (Borsen)

Carlsberg's chief executive, Cees' t Hart, says he is prepared for new acquisitions after the brewery did not take part in the latest M&A wave in the brewery industry, Bloomberg News writes. In an interview with the financial news agency, he says that Carlsberg plans to start looking around for acquisitions in countries where the brewery group already has a presence.

- Sweden -

Summa Equity acquires Finnish HyTest (Press Release)

Summa Equity will become the majority shareholder of the Finnish company HyTest, producer of antibodies and antigens for the diagnostic industry. The company operates in a global market where growth is driven by an aging population, innovation and increasing investments in medical care. The investment is Summa Equity’s first in the Finnish market. The acquired company, based in Turku, Finland has around 100 employees.

Swegon acquires Zent-Frenger GmbH from Uponor Group (Press Release)

Swegon AB, a wholly owned business area within Investment AB Latour, has acquired Zent-Frenger GmbH. Zent-Frenger is a leading provider of radiant ceilings in Germany and in addition, develops and sells customized commercial heat pumps and concrete activation products. The company develops and assembles its products in Heppenheim, Germany. The company employs approximately 100 staff and reported a turnover of EUR 29m in 2017.

Bygghemma acquires furnishings retailer in Eastern Europe (Press Release)

Bygghemma Group AB has acquired 30% and has an option to acquire up to 80% of the shares in Furniture1 UAB, a leading online retailer within furniture and interior decoration in the Baltics and Eastern Europe. Furniture1 has had a CAGR of 73% over the last three years and reported a turnover of approximately SEK 200m in 2017. The company has 135 employees and the purchase price for the 30% of the shares amounts to approximately SEK 30m and corresponds to an enterprise value of approximately SEK 100m.

- Norway -

Atea acquires business analytics firm Sherpa Consulting AS (DN)

Atea AS has entered into an agreement to acquire Sherpa Consulting AS, one of the largest independent providers of business intelligence and data analytics in Norway. Sherpa is located in Oslo and has 48 employees. Sherpa is expected to generate revenues of NOK 78m and EBIT of NOK 11.5m in 2018. Atea will acquire all shares in the company for an enterprise value of NOK 60m.


Authorities approve Nordea's acquisition of Gjensidige Bank (Press Release)

On July 2, Nordea signed an agreement to buy all shares in Gjensidige Bank. Now the deal has been approved by the Norwegian competition authority. The agreement in the acquisition of Gjensidige Bank gives Nordea Norway 170,000 new private customers. Today Gjensidige Bank's lending in the Norwegian private market amounts to approximately SEK 45bn. Following the acquisition, Nordea Norway will have a credit portfolio of approximately SEK 578bn. Nordea acquires Gjensidige Bank for NOK 5.5bn, with certain agreed adjustment mechanisms.

- Finland -

Finnish software company receives funding of EUR 305.000 (Press Release)

The Finnish software company, Screenful, has collected seed funding of EUR 305,000. Screenful creates project tools that help companies streamline their business by visualizing project progress and increasing transparency in projects.  The financial roundup was led by the Finnish private equity investor Gorilla Capital and Arctic15 funding program, which included 14 new investors from FiBAN and the Nordic Angel Program.

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Prepared by Morten Loft Sørensen