Nordic M&A News
October 12, 2018

- Denmark -

VELUX Group to acquire JET-Group from Egeria (Borsen)

VELUX A/S and Dutch investment firm Egeria have reached an agreement concerning the sale of JET-Group to VELUX Group. The decision to acquire JET-Group, a European leader in industrial roof light systems, is in line with the VELUX Group’s growth strategy to grow its business in the non-residential market for daylighting solutions. JET-Group has close to 800 employees and an annual turnover of DKK 1.3bn. The purchasing price is undisclosed but it's estimated at around DKK 1.1bn according to Borsen’s sources.

Energy companies Eniig and SE are merging (Press Release)

The boards of the two energy companies Eniig and SE have entered into an agreement to merge under the name Norlys a.m.b.a. Norlys becomes a significant player in the Danish energy and telecommunications market with approx. 2,500 employees. Norlys will have a turnover of approx. DKK 8bn and operating income of approx. DKK 1.9bn. According to the companies, the total electricity supply of the new company will cover 30% of Danish households.

Ceva Logistics rejects Danish bidder DSV's USD 1.55bn approach (Reuters)

Swiss transport group Ceva Logistics rejected an unsolicited takeover approach from Denmark’s DSV, saying on Thursday the 1.53bn Swiss franc (USD 1.55bn) cash bid undervalued the company that went public only in May. Danish freight forwarder DSV offered 27.75 francs per share for Ceva in cash, a 50 percent premium to the previous close of 18.42 francs. DSV, which is ready to make acquisitions again after its USD 1.35bn purchase of California-based UTi, declined to comment on whether it would return with a higher offer for Ceva.

- Sweden -

Hoist Finance to acquire Italian debt collection company (Press Release)

Hoist Finance has entered into an agreement to lease and subsequently acquire the ongoing activities of the Italian debt collection companies Maran Group. Maran Group is a well-reputed debt collection agency with a customer base that includes the larger Italian banks and financial institutions. The Maran Group has one operational center employing approx. 200 people.

Tradedoubler receives a public takeover bid from Reworld Media (Press Release)

Tradedoubler received a LOI from its largest shareholder Reworld Media S.A. concerning an indicative interest in a public takeover offer for the company’s shares. Besides an indicative interest and that such offer could be announced in early November, the letter does not contain any price indications or other terms and conditions for a potential offer. Founded in Sweden, Tradedoubler is an international leader in performance-based digital marketing and technology. Tradedoubler's stock price rose 40.58% on Thursday after the news.

- Norway -

Data Respons acquires two German tech companies (Press Release)

Data Respons ASA has acquired 100% of the shares in IT SONIX GmbH and XPURE GmbH, two R&D services companies based in Germany with combined 125 employees. The companies are leading niche providers of specialist services and SW technology (Java, Embedded, Cloud, Data AI and agile UXUI). The acquired companies had a combined turnover of EUR 13.6m in 2017 and an EBIT of EUR 2.8m. The consideration for the transaction is an upfront cash consideration of EUR 9.8m + a placement of 2.9m shares in Data Respons ASA and an additional earn-out payment.

- Finland -

Finnish acquisition of machine rental company Flexleie AS (Veier24)

Renta Yhtiöt Oy acquires Norwegian equipment and machinery rental company Flexleie AS. After the acquisition, the turnover of 2018 for Renta Group is estimated to approximately NOK 1.4bn. Flexleieexpects a turnover of NOK 120m in the financial year 2018. "The acquisition of Flexleie is the first step for Renta’s expansion to Norway…”, says Kari Aulasmaa, CEO of Renta Group.

Anta Sports confirms discussions about buying Amer (Bloomberg)

Amer Sports Oyj’s Chinese competitor is advancing in negotiations over a potential takeover of the Finnish company, which owns the brands Wilson tennis rackets, Salomon, Peak Performance among others. Anta Sports Products Ltd. is joined by Asian private equity firm FountainVest Partners in the potential takeover. Anta and FountainVest have made a preliminary indicative offer of 40 euros per share for Amer, valuing the target at about EUR 4.7bn


Prepared by Emil Tange Ohlsen