Nordic M&A News
September 11, 2018

- Denmark -

ISS to divest non-core cleaning portfolio in the Netherlands (Press Release)

ISS A/S, a global leading facility services provider, has reached an agreement to divest a non-core single-service cleaning portfolio in the Netherlands to Dutch cleaning company CSU. The divestment concerns approximately 70 Dutch customers and, pending approval from the Netherlands Authority of Consumer and Markets (ACM), will see the transfer of around 2,200 employees to CSU. ISS’s global revenue amounted to DKK 79.9bn in 2017 and the company has more than 488,000 employees.

- Sweden -

Summa Equity acquires Lakers Holding AB (Press Release)

Summa Equity has signed an agreement to acquire Lakers Holding AB, a Nordic group operating within the water, wastewater, building services and industry segments. Lakers was founded in 2016 by Carl Hall and Carl-Johan. The company has 130 employees across Norway, Sweden and Denmark with a revenue of SEK 280m. Lakers will be acquired from MVI Fund I AB, the founders and a handful of minority shareholders active in the business. The founders and the management team will remain as significant shareholders in the company.

EQT Partners is said to consider an IPO as part of strategic review (Borsen)

EQT Partners is considering an initial public offering as the Swedish private equity firm looks for ways to strengthen its balance sheet, states a source familiar with the matter according to Bloomberg. The largest buyout firm in the Nordic region is also considering attracting an external investor as a part of a broader strategic review. EQT isn’t considering selling the entire business, said the source, asking not to be identified as the details aren’t public.

Bactiguard's majority shareholders sell off 20 percent stake (Press Release)

The main shareholders in Medical technology company Bactiguard Holding AB broaden the shareholder base and increase the free float in the company's share through a secondary sale of existing shares to three Swedish institutional owners. The transaction comprises 6.63 million B-shares at the price of SEK 39 per share. The total value amounts to SEK 258.6m.

Miltton bids on communication company House of Friends (Press Release)

Miltton Labs, who recruited former Bonnier CEO Gunilla Herlitz as CEO earlier in 2018, submits a recommended offer to the shareholders of the First North-listed House of Friends for the acquisition of all shares in the company against a cash consideration of SEK 2.16 per share. Based in Stockholm and employing around 80 personnel, House of Friends consists of multiple subsidiaries and disciplines including marketing automation, branding, CRM, etc. Its turnover in 2017 was SEK 91.5m and for 2018, the turnover is expected to grow to SEK 100m.

- Norway -

Fram Exploration is struggling with the sale process (Hegnar)

The Norwegian oil company Fram Exploration AS has been working for almost a year to sell shares to boost liquidity. The company continues to work on a sale of all or part of the company's assets, but has not yet been successful in finalizing a transaction. The largest owner is Rex International Holding with just over 30% of the shares in front of Loyz Usa Holdings, which owns 13.75% of the shares. PE fund Staur Private Equity, is the third largest owner, while Pareto holds 11.05% of the shares, making it the fourth largest owner.

- Finland -

Mehiläinen acquires dentist clinic in Helsinki (Press Release)

CVC Capital Partners backed Mehiläinen expands its operations in Helsinki by acquiring the entire shareholdings of Stoma Klinikat Oy. Stoma Klinikat Oy is one of the oldest and most respected private dental clinics in Helsinki. Net sales of the acquired company are approximately EUR 2m according to Talouselama.

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Prepared by Morten Loft Sørensen