Nordic M&A News
August 17, 2018

- Denmark -

Gan Integrity looking to secure financing from Facebook founder (Borsen)

Half a year after the young IT company Gan Integrity last secured DKK 150m in growth financing, valuing the company at DKK 500m, the company is already again in search of capital raise from among others Mark Zuckerberg's fund. GAN Integrity builds cloud-based compliance software for managing corporate risk, third-party due diligence, and whisteblower concerns. It has offices in New York and Copenhagen.

Carlsberg is looking for takeover targets after strong performance (Borsen) 

Carlsberg's CEO, Cees' t Hart, has been pleased to show the newest financial report, where the bottom line appears to be 8-9% better than last year. According to the CEO, this makes Carlsberg able to look for additional acquisition targets in Asia – especially in China and Vietnam. 

- Sweden -

Kinnevik invests in German fintech company Deposit Solutions (Realtid)

Kinnevik has not been on the lazy side during Wednesday, with investments in both the Swedish food business, Karma and the Norwegian e-commerce grocery company, Kolonial. Now, Kinnevik has also entered the German fintech company Deposit Solutions. Kinnevik is participating in a capital funding round of USD 100m, equivalent to SEK 922m, but does not publish the exact amount for its investment. The transaction values Deposit Solutions at approximately USD 500m. The company has 250 employees and is located in 16 European countries.

iApotek Int AB acquires Eprix AB (Cision)

 iApotek has entered into an agreement to acquire all of the shares in Eprix AB. Eprix is a retail company specializing in mail order and internet trading sales of pharmacy products and associated peripherals through the web platform Eprix reported revenues of SEK 18m during 2017-07-01 to 2018-06-30 with a positive result of SEK 2.7m. The purchase price amounts to SEK 11 million, of which SEK 3m is in cash and SEK 8m is in shares in iApotek.

Volati completes acquisition of S:t Eriks (Cision)

Volati AB has completed the acquisition of S:t Eriks Group AB, which was announced in the NKP M&A Newsletter on July 18, 2018. Volati has acquired all shares in S:t Eriks Group AB. S:t Eriks will be consolidated in Volati from August 15 and is expected to contribute positively to Volati’s earnings per share for the current year. The acquisition was made at an estimated enterprise value (EV) of approximately SEK 500m and an EV/EBITDA multiple of 5.5 x earnings for the full year 2017.

Jurek acquires ID Entity – Strengthens HR offerings (DI)

Jurek Rekrytering & Bemanning AB acquires Swedish ID Entity AB, a recruiting and consulting company focusing on HR. The acquisition strengthens Jurek's HR offerings and complements the already well-established specialist areas in law and finance. Jurek had a turnover of SEK 170m according to the 2017 annual report and has 260 employees. ID Enity AB reported revenues of SEK 30m in 2017 and has 30 employees. Jurek acquires all shares in ID Entity AB. 

- Norway -

Akva Group with lower earnings after Egersund Net acquisition (E24)

Akva Group had a turnover of NOK 627m in the second quarter. The company, which supplies equipment and technology for the aquaculture industry, had a turnover of NOK 537 million in the same quarter last year. EBITDA ended at NOK 52m in the second quarter, down from NOK 65m in the same quarter last year. The decline is due to the cost of the acquisition of Egersund Net, the company writes.

- Finland -

No news to report

Prepared by Emil Tange Ohlsen