Nordic M&A News
April 18, 2018

- Denmark -

FSN Capital fires management team in Gram Equipment after an unexpected loss (Borsen)

Gram Equipment is a leading supplier of ice production equipment and was acquired by FSN Capital from Procuritas in December 2017. Before the acquisition, FSN Capital expected a turnover of DKK 800m with a considerable profit for 2017, but it now turns out that the company is going to report a substantial yet unknown loss. As a direct consequence of the poor earnings, FSN Capital has chosen to dismiss the CEO, CFO and COO.

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Vækstpartner Capital acquires 44% stake in CIM Industrial System (Borsen)

Vækstpartner Kapital, which has several well-known Danish businessmen as investors, has made their fourth investment in the test and software consultancy company CIM Industrial System. CIM has a turnover of more than DKK 20m and creates software for automation of tests, measurements and quality assurance. Vækstpartner Kapital’s fund size is around DKK 100m.

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- Sweden -

Mangold places bid for 25% stake in RessCapital (Realtid)

The Swedish independent security broker Mangold Fondkommision AB, places a bid to acquire 25% of RessCapital, an alternative investment fund manager (IAFM). The total sum of the potential deal is SEK 9.3m with a cash payment of approximately SEK 7m and newly issued Mangold shares corresponding to approximately SEK 2.3m. RessCapital reported revenues of SEK 14m and a net profit of SEK 5m in the latest financial year 2016/17.

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Hedin Bil acquires Motorcentralen in Eskilstuna (DI)

Hedin Bil continues to expand in Sweden as 100% of the shares in Motorcentralen in Eskilstuna AB is acquired. This marks Hedin Bil’s 98th dealership and sales are expected to increase with approx. 400 cars yearly. The acquisition only includes the passenger and transportation business for Ford meaning that Hedin Bil increases the Ford offering within the Group. The estimated turnover for Motorcentralen in Eskilstuna AB is around SEK 100m.

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- Norway -

no news to report

- Finland -

Veritas Pension Insurance and Pensions-Alandia to merge in 2019 (Cision)

Veritas Pension Insurance and Pensions-Alandia have signed a letter of intent for the merger. The objective is to cut administrative costs and create a stronger pension company in the market for small and medium-sized businesses and entrepreneurs. After the merger, the company will have around 19,500 customers and manage a total of approximately 114,000 Finnish pension provisions and investments of EUR 3.5bn, according to a press release from Veritas. 

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Prepared by Emil Tange Ohlsen