Nordic M&A News
May 30, 2018

- Denmark -

Tradeshift receives DKK 1.6bn investment from Goldman Sachs (Borsen)

With an investment worth DKK 1.6 bn from Goldman Sachs and the Canadian pension fund PSP Investments, the Danish-started FinTech company Tradeshift is now heading for an IPO. "This is the last funding round before we go public. - We are ready for an IPO within 24 months” says Christian Lanng, co-founder and CEO at Tradeshift. Tradeshift facilitates electronic invoicing between companies and is believed to be the leading company in its market category. 

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The current owners of Carsoe A/S are looking to sell off company (Borsen)

Carsoe A/S has hired Carnegie to investigate the market and possibilities for a sale. 10 months ago, PE-firm Industri Udvikling acquired a 20% stake in the company. Carsoe A/S expects a revenue growth of 50% this year to reach DKK 500m in sales with a significantly improved EBITDA. In April, Carsoe signed its largest order of DKK 800m involving the development and delivery of seven complete fish factories to Russian Fishery Company.

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FinTech start-up Pleo reaches DKK 100m in fundings (Borsen)

London and Copenhagen-based FinTech startup Pleo, who offers a debit card and app to manage company expenses, has in three years received DKK 100m in fundings. Behind the fundings are British Creandum and Swedish Kinnevik among others. Besides Denmark, Pleo is present in the UK and is planning to enter three to four new European markets over the next two years.

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- Sweden -

Fasticon Kompetens acquires STF Ingenjörsutbildning (Cision)

Sveriges Ingenjörer sells the education company STF Ingenjörsutbildning to Fasticon Kompetens Holding AB. STF carries out further education and training for engineers in the real estate, construction, electricity, IT and energy sector. The company was started by the Swedish Technology Association in the 1930's and has been a wholly owned subsidiary of Sveriges Ingenjörer since 1982. STF has 25 employees and sales were approximately SEK 65m in 2017.

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Opus acquires two car testing companies in Argentina (Cision)

Opus Group AB has acquired 100 percent of the shares in two car testing companies, VTV Norte and VTV Metropolitana based in the Buenos Aires area in Argentina. The total purchase price amounts to approximately EUR 10.8m (approximately SEK 111m), on a cash and debt-free basis. The acquisition of VTV Metro and VTV Norte will strengthen Opus's position in the Latin American car testing market. The acquisition also expects to contribute positively to Opus' earnings this year. 

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- Norway -

Septon acquires Lydrommet and expands in Norway and Denmark (Cision)

Septon Electronic AB has entered into a binding agreement to acquire all shares in Norsk Lydrommet AS and Lydrommet Danmark A/S. Lydrommet reported a turnover of NOK 101m in 2017 and EBIT of NOK 1.7m. The purchase price amounts to SEK 29m. The acquisition means an expansion of Septon's business in professional AV products in Norway and Denmark and creates a Scandinavian platform for continued expansion.

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Danish discount retail store Normal is looking to expand in Norway (DN)

Jesper Dønnestad Brandt and Michael Eeg are looking to expand Normal in Norway and establish 50 stores and reach 1200 employees by the end of the year. The two danes owns 25% of the stores while Normal owns the rest. Normal is currently owned by the initial two founders and investor Anders Holch Povlsen. 

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- Finland -

Standout Capital invests in Miradore (Press release)

Miradore, a leader in device management and security software, has brought in Stockholm based Standout Capital as their largest investor to accelerate international growth. Together with one of the Nordic’s largest growth capital investors, Miradore is looking to increase investments in organic growth outside Finland as well as pursue acquisition opportunities.

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Prepared by Emil Tange Ohlsen