Nordic M&A News
October 11, 2018

- Denmark -

Molslinjen's acquisition of Danske Færger approved (Borsen)

On Wednesday, the Danish Competition Authorities approved Molslinjen’s acquisition of the competitor, Danske Færger. Danske Færger, which runs the Samsø ferry, is owned by Clipper Group and the Danish government, and with Molslinjen's acquisition, a merger has been paved. According toShippingwatch, this has been under way since June. According to the media information, the deal will be closed within a month.

Gefion announces take-over offer for Victoria Properties (Borsen)

Gefion Group has decided to make a conditional voluntary public takeover bid for the shareholders of Victoria Properties A/S. Gefion has offered DKK 2 per share and is thus around DKK 0,5 above the market price in the past week. The plan is to create a company with a significant property portfolio. The current majority shareholders support the offer, and the plan is that they will continue to back the firm with a smaller shareholding.

Fitness World to acquire 2nd largest fitness chain in Switzerland (Borsen)

Fitness World acquires the second largest fitness chain in Switzerland, Basefit.ch, with 65,000 members and sales last year of around DKK 146m. Fitness World takes over all the shares in Basefit.ch, but the amount of the deal has not been disclosed. Fitness World is the largest fitness chain in Denmark with almost 170 centers in Denmark and 14 in Poland.

- Sweden -

SolunoBC acquires Callhosted to grow offerings in Europe (Press Release)

SEB private equity portfolio company, Soluno, the largest operator-independent UCaaS provider on the Nordic market joins forces with CallHosted, a Netherlands based cloud service provider. The focus for the combined company will remain on expanding operations in the Netherlands and subsequently expand into further markets in Europe. During 2018, Soluno is expecting sales of approx. EUR 25m and has offices in Stockholm, Gothenburg and Rotterdam.

Rumors: Microsoft is close to acquiring Obsidian Entertainment (Forbes)

Microsoft is finalizing a deal to acquire the independent development studio Obsidian Entertainment, according to three people briefed on the negotiations. One person with knowledge of the negotiations reports “It’s a matter of when, not if” while another claimed the deal is “90%” finished. If the rumor is true, buying Obsidian Entertainment represents another step in Microsoft Xbox’s aggressive shopping spree this year, snapping up four game studios.

Systemhus acquires SGE Construction AB (Press Release)

Systemhus has acquired the Enköping based company, SGE Construction. The acquisition is made at the purchase price of SEK 40m. The construction company is a supplier to one of the major residential developers in Sweden and sales are estimated at approximately SEK 115m for the current year with positive earnings of approximately SEK 8m.

- Norway -

Araca Energy is looking for potential acquisition targets (Press Release)

The OTC-listed oil and gas exploration company Araca Energy - formerly Aladdin Oil & Gas - writes in a press release that the company is targeting in-organic growth and actively looking for acquisition opportunities. According to the press release, the most relevant targets are quality late-stage development or producing onshore oil & gas assets with low committed capital expenditure.

Stortinget approves Kongsberg's acquisition of Rolls-Royce Marine (Tu)

In July this year the Kongsberg Group entered into an agreement to purchase Rolls-Royce Commercial Marine. The government would contribute SEK 2.5bn to the acquisition, if the decision was supported by the Storting. Now a unanimous parliament has voted to support the capital expansion and acquisition. Rolls-Royce Commercial Marine has approximately 3,600 employees and sales of approximately USD 8.9bn last year.

Shipping firm BW LPG withdraws Dorian merger proposal (Hegnar)

It has been three months since BW LPG’s latest proposal to merge with Dorian. Oslo-listed BW LPG has therefore chosen to withdraw the proposal for a merger of the two shipping companies, as well as the candidates it intended to nominate as board members. "We believe this is a lost opportunity for Dorian shareholders and the industry, but we remain open for future dialogue, the board and its shareholders should be convinced of the benefits of consolidation," writes Chariman of BW LPG, Sohmen-Pao in an open letter.

Kahoot finalizes funding round to prepare for acquisition plans (DN)

The privately held quiz company Kahoot has just raised NOK 126.5m from newly issued stocks valuing the company at NOK 2.55 bn. It is the second funding round of the year. In March, Kahoot received NOK 130m. "In 2019, we will not only look at organic growth, but also potential acquisitions,” says Finance Director Martin Kværnstuen.


- Finland -

NRC Group acquires Finnish VR Track (Press Release)

Norwegian NRC acquires VR Track Oy to form the leading rail infrastructure company in the Nordics. VR Group provides  railway construction, maintenance services and design with operations in Finland and Sweden. The purchase price is based on an enterprise value of VR Track of EUR 225m. VR Track estimates to generate approximately EUR 300 million in net sales with EUR 28m in EBITDA in 2018, which corresponds to an EV/EBITDA (2018) of 8.0x.

SIGN UP FOR A FREE TRIAL

Prepared by Emil Tange Ohlsen