Nordic M&A News
April 23, 2018

- Denmark -

3C Retail sale not panning out as expected (Borsen)

The potential sale of 3C Retail, owner of L'easy and D.E.R. - which was announced back in August 2017 - has according to sources fallen through. The potential buyer was a foreign private equity firm, but backed out due to capital-intensive nature of the business - according to sources. Nordea Corporate Finance still has the sales mandate and they are re-engaging with earlier potential buyers.

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EQT-backed Tia Technology makes comeback (Borsen)

EQT acquired Tia Technology, a Danish Software company in 2014 for approx. 500M DKK from DKA Capital (now Gro Capital). Revenue increased from 98M DKK in 2016 to 143M DKK in 2017, while EBITDA grew from 21M DKK 2016 to 35M DKK in 2017. The company has seen troubles since the acquisition, with a lawsuit against former owner DKA Capital and EBITDA was more than 50M DKK before EQT acquired the firm.

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- Sweden -

No news to report

- Norway -

Telia still looking for Norwegian acquisitions (e24)

Telia is still looking for acquisitions in Norway after it was announced that EQT would sell Broadnet internally. Telia confirms they were in the acquisition process for Broadnet and is now looking for other acquisitions in Norway. Speculation concerning possible targets have included TDC-owned Get and Altibox Alliance, but nothing is certain at the moment.

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- Finland -

Orion to sell diagnostics division to Axcel (NASDAQ)

Orion Group sells it's diagnostics division to Axcel, to focus solely on pharmaceuticals. The transaction is valued at 168M EUR and expected to close in Q2 2018. Orion stated that the diagnostics division has no synergies with its core pharmaceutical business, which is the main rationale for the sale.

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Prepared by Kent Dalstrup