Nordic M&A News
October 8, 2018

- Denmark -

Ørsted acquires Deepwater Wind from D.E. Shaw Group (Borsen)

Today, Ørsted has announced that they have entered into an agreement to acquire a 100 pct. equity interest of the American off-shore wind energy development group Deepwater Wind at a purchase price of USD 510m. Following the deal, the off-shore assets and organizations of the two companies will be merged into the leading US offshore wind platform. Currently, the total capacity of Deepwater Wind is 3.3 GW, which includes Block Island, the only operational offshore wind farm in the US according to Ørsted.

Heimstaden enters a joint venture with KPC (Press Release)

Heimstaden Danmark A/S has entered into a joint venture with the project development company KPC for the acquisition and construction of  Slagterigrunden, a property project in Roskilde. The total area of the property projects is approx. 8,000 square meters and the transaction value amounts to approx. DKK 190m.

Management and investor group have acquires SubC Partner (JV)

The management in SubC Partner A/S, Tonny Klein and Rune Værndal has together with an investor group acquired 100 pct. of SubC Partner A/S. Following the transaction, Joachim Vangaard Jensen from JV Equity, Peter Sønderlyng from Capital Asset Management enters the board. Among the sellers are Jan S. T. Nielsen, Lars Wigant and Maj Invest Equity. SubC Partner is a leading Danish supplier of services and products to the offshore industry.

- Sweden -

Catella establishes service company in France (Press Release)

In cooperation with Thierry Bruneau, Catella Property Investment Management establishes a new logistics company in France, Catella Logistic Europé. The company will focus on early phase logistic property development service, where key value driver is to fulfill the high standard demands from institutional investors as well as logistic and industrial companies.

KPMG Sweden enters into a  partnership with ServiceNow (Realtid)

The American cloud computing company ServiceNow collaborates with several of the major audit firms in the US, but the KPMG Audit Office is the first in Sweden to enter into a strategic partnership with ServiceNow. Magnus Sjöström, Partner at KPMG, says to Realtid that KPMG'sstrengths ranges from regulations to organizational changes and financial functions, while ServiceNow strengths lies in its technology and how it can be applied.

Ryds Bilglas acquires Mobile Windscreens Limited (Motormagasinet)

The leading Scandinavian car glass repair company Ryds Bilglas has acquired the UK-based company Mobile Windscreens Limited. Mobile Windscreens was established in 1971 and last year, they reported turnover of GBP 40m (SEK 475m). Ryds Bilglas was established in 1947 and is today backed by Nordic Capital. The company reported sales of SEK 700m in 2017. The expansion to the UK is a big step in their continued growth journey says Anders Jensen, CEO of Ryds Bilglas.

- Norway -

Yara acquires minority interests of Brasilian Galvani Indústria (Hegnar)

According to a stock exchange announcement, Yara has entered into an agreement to acquire the minority interests in Galvani Indústria, Comércio e Serviços SA from the Galvani family. Following the transaction, Yara Brasil will own 100% of the industrial unit in Paulínia, a fertilizer bulk blend facility and the Serra do Salitre project, while some of the assets will be transferred to the Galvani family. The agreement includes a cash payment of USD 70m over a 3-year period from closing.

Hitecvision is planning to sell 12 oil service companies (Hegnar)

Hitecvision partner Atle Eide says to DN that during the next 24 months, they want to sell 12 of their Norwegian oil service companies. In total, Hitecvision has invested NOK 2.9bn in oil service companies, which accounts for 14 percent of the fund's invested capital. The companies they are selling are estimated to report EBITDA of more than NOK 400m this year, compared to last year. Together, the companies earned NOK 50m last year according to Hegnar

Telia's acquisition of Get/TDC Norway has been approved (Press Release)

Telia's acquisition of the Norwegian operations of TDC, which we first reported on July 17th, has now been approved by the Norwegian Competition Authority. The NOK 21bn deal included Get and TDC Norway, which together had a revenue of NOK 4bn in 2017, EBITDA of NOK 1.73bn and 870 employees.

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Prepared by Anton Søeberg