Nordic M&A News
October 15, 2018

- Denmark -

Triton has signed an agreement to acquire Dantaxi 4x48 (Press Release)

PE firm Triton has signed an agreement to acquire the companies under the brand Dantaxi 4x48. Terms of the transaction are not disclosed. Dantaxi 4x48 is a Danish taxi company created through the merger between Dantaxi and 4x48 TaxiNord in January 2017. The company is the only nationwide provider of taxi-services in Denmark and with more than 1,600 taxis associated, Dantaxi 4x48 is the market leader. In 2017, the company generated gross revenue of around DKK 1.6bn and completed around 7 million trips.

Chr. Hansen acquires dairy ingredient supplier Hundsbichler (Borsen)

Through the acquisition of the assets of Austrian-based ingredient supplier Österreichische Laberzeugung Hundsbichler GmbH, Chr. Hansen will further expand its enzyme production and presence into the traditional segments of specialty cheeses. Chr. Hansen has delivered organic growth of 10% in the fourth quarter of the 2017/2018 financial year, with an expectation of 8.8%.

Broadband company DKT acquires Teledan-Witronic (Computerworld)

The Danish manufacturer of broadband and fiber equipment DKT, acquires its competitor Teledan-Witronic. In 2017 DKT reported EBIT of DKK 19m. Teledan-Witronic has 22 employees and reported a gross profit of DKK 3.65m in 2017. The two companies did not want to disclose the purchase price, but say the price is "under DKK 10m".

- Sweden -

LKAB Minerals signs agreement to acquire Francis Flower (Press Release)

Swedish LKAB Minerals will, subject to merger clearance, complete a cash deal transaction, acquiring full ownership of Francis Flower, an English industrial minerals company. Francis Flower has annual sales of approximately 1.3 million tons of mineral products at a value of close to EUR 78m, foremost in the UK, and employs 130 people across four sites in England. In 2017, LKAB had sales of EUR 2.2bn of which LKAB Minerals reported sales of EUR 251m. The transaction value is not disclosed.

Pandox acquires The Midland Manchester (Press Release)

Pandox AB has entered into an agreement to acquire The Midland Manchester - an iconic upper premium hotel with 312 rooms in the heart of Manchester, UK. The transaction is made with Fattal Hotels Group as operating partner, whereby Pandox, following a legal re-organization, will retain the property and the hotel operations will be transferred to Fattal. The total transaction value amounts to approximately GBP 115m, whereof the value of the hotel property amounts to GBP 102m.

Appland gets acquired by OnMobile Global for USD 15m (Press Release)

Appland, a Gothenburg-based mobile entertainment and kids App Clubs subscription services provider announced getting into an agreement to sell the company to Indian mobile entertainment company OnMobile Global. The company said in a filing to the stock exchange “The transaction is not exceeding USD 15m in two or more tranches including an earn-out portion”. In 2017 Appland reported sales of SEK 8.2m with a negative EBIT of SEK -7m.

- Norway -

No news to report

- Finland -

Finnish IT-equipment vendor Ekahau acquired by Ookla (Talouselama)

Ookla LCC., a subsidiary of Ziff Davis, has acquired Helsinki-based Ekahau. Ekahau delivers wireless LAN design and problem-solving tools. The company has more than 15,000 customers around the world. The acquisition broadens the offering portfolio of Ookla, the global leader in worldwide internet performance testing. The vendors of Ekahau include Nextit Ventures and the current Chairman of Nokia, Risto Siilasmaa. The purchasing price is undisclosed, but it is estimated to be over USD 100m according to Talouselama.

NYSE listed Varian acquires Finnish Noona Healthcare (Press Release)

Varian has acquired Finnish privately held Noona Healthcare, a developer of cloud-based mobile service designed to allow clinics to capture cancer patient-reported outcomes and communicate directly with them. The purchasing price is undisclosed. The company raised EUR 1.5m in a seed funding round led by Inventure in 2016. Other investors in the round included Noaber Ventures and Belgium-based digital healthcare fund Capricorn ICT Arkiv. All of them exit the company.


Prepared by Anton Søeberg