Nordic M&A News
September 18, 2018

- Denmark -

Nordic Alpha Partners makes its first investment in Carheal (Borsen)

Danish fund Nordic Alpha Partners has decided that the North Jutland based company, Carheal ApS will be the fund's first investment. Carheal produces a technological variant of spray booths for car refinishing. A total of DKK 54m is invested in Carheal for a yet undisclosed stake size. In 2017, Carheal had a turnover of DKK 30.5m, while the company is expected to increase revenue by 67% to DKK 50m in 2018. The fund's focus differs from the other Danish funds by having an investment scope on industrial companies with a digitalization potential. Nordic Aplha Partners’ fund size is DKK 945m.

Babytoys.dk to merge with mammashop.dk (Business)

Mads Herlev and Rene Stenvang are merging their two companies. The two entrepreneurs each run a webshop with above a million DKK in revenue. The two webshops have both moved within the same target customers, but with two different product types. Where Babytoys.dk has a wide range of wooden toys for children, Mammashop.dk has a wide range of baby equipment products. With the merge, they now target a broader audience, under the same online webshop. Mamashop reported a gross loss of DKK 68.372 with an EBIT of -778.800 in 2016/17 (17 months).    

- Sweden -

OEM International acquires ATB Drivtech AB (Press Release)

OEM International has on Monday signed an agreement to acquire all shares in ATB Drivtech AB. The company, with head office in Swedish Ekerö, markets electric industrial motors, and has a yearly turnover of approximately SEK 18m. “ATB Drivtech’s range of motors is a good complement to our existing product portfolio of smaller electric motors”, says Jörgen Zahlin, Managing Director and CEO for OEM International.

24SevenOffice acquires retailer Online Sales Company AS (Press Release)

24SevenOffice Scandinavia AB acquires its largest retailer Online Sales Company AS for SEK 20m paid in the form of shares and SEK 4m in cash. The acquisition is expected to contribute positively to 24SevenOffice earnings from Q4. Online Sales Company has since its start built up a portfolio of 24SevenOffice subscriptions of approximately SEK 8.5m in annual recurring revenue, corresponding to approximately 8.7% of the group's total annual recurring revenue.

24SevenOffice acquires a 51% stake in Credité Consulting (Press Release)

24SevenOffice Scandinavia AB acquires 51 percent of Credite Consulting AB, a fast-growing consulting and accounting company headquartered in Stockholm for SEK 1.25m. Since its listing on Spotlight Stock Market, 24SevenOffice Scandinavia AB has laid the foundation for its growth strategy in Sweden. To handle the growing demand for onboard services from Swedish ERP customers and accounting agencies, 24SevenOffice acquires the majority of Credit Consulting AB with 14 consultants certified on the 24SevenOffices system.

- Norway -

No news to report

- Finland -

Eagle Filters starts operations in the United States (Press Release)

Loudspring subsidiary Eagle Filters has launched a division in the United States. Eagle Filters provides novel efficiency technology for power plants. Eagle’s patented high-performance air intake filters enable several million euro savings in efficiency gains for power plants. Eagle Filters Oy reported sales of EUR 2m in 2017. The launch of the US Operations with the newly recruited team of Eagle Filters US is in line with Loudspring’s strategy of becoming a fully-fledged industrial group of companies. Loudspring is listed on First North Finland.

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Prepared by Morten Loft Sørensen