Nordic M&A News
June 8, 2018

- Denmark -

Ringkjøbing Landbobank and Nordjyske Bank merger is official (Borsen)

At the extraordinary general assembly in both companies today, the parties have agreed upon the merger between the two banks. Following the merger, the market value of the bank is expected to rise from approximately DKK 8bn to over DKK 11bn. In addition, it’s been announced that the bank will change from being considered a mid-cap firm to a large-cap firm on Nasdaq OMX.

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Robotics company Odico is looking to IPO on Nasdaq First North (Borsen)Odico A/S has applied for admittance to trading on Nasdaq First North Denmark. The first day of trading is expected to be 29 June 2018. Price per share is going to be DKK 8.80. Odico is going to be the first ever Danish robotics company to become publicly listed. The company is looking to receive investments worth DKK 25-30m on Nasdaq First North to kick-start their growth in the market for robotics use in the construction industry.

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- Sweden -

ÅF acquires Effekt - a specialist in technical installations (Cision)

Through the acquisition of Effekt, ÅF increases its presence in Western Sweden and strengthens the ability to achieve overall commitments in real estate and technical installations. Effekt’s services include consulting, design and calculations in automation, energy and control technology, as well as electrical and telecommunications. Effekt has 40 employees based in Varberg and reported a turnover of SEK 31m in 2017.

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Nordax Bank acquires Svensk Hypotekspension AB (Cision)

Nordic Capital’s portfolio company Nordax Bank AB has signed an agreement to acquire Svensk Hypotekspension AB (SHP). Through the acquisition of SHP, Nordax strengthens its position as a leading specialist bank and a challenger in the mortgage market. SHP has 13 employees with offices in Stockholm, Gothenburg and Malmö. By the end of 2017, lending amounted to SEK 3.5bn, distributed among more than 5,000 households. The purchase price of the company is undisclosed. 

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OptiGroup acquires Oviva Distribution in Romania (Cision)

The acquisition is OptiGroup's first entry into the Romanian market for facility management products and will complement the existing operations in the region. The OptiGroup Group, with net sales of EUR 1.5bn in 2017 and 2,100 employees, provides support to over 90,000 customers in 19 European countries.

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- Norway -

Kesko strengthens position in Norway - acquires Skattum Handel          (Press Release)Kesko Corporation's subsidiary Byggmakker Handel AS has signed an agreement to acquire Skattum Handel AS, a Norwegian operator in the building and home improvement trade with net sales of approximately EUR 94m in 2017. Skattum Handel AS currently operates Byggmakker stores under the retailer business model.

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- Finland -

JOT Automation has been sold to a large Chinese corporation (Talouselama)

Finish JOT Automation specializing in production automation and electronics testing solutions has been sold to Suzhou Victory Precision, China. The company purchases the entire stock of JOT Automation. The company does not publish the purchase price. The purchase price is estimated to be between EUR 40m and 60m. JOT Automation improved its performance clearly last year. The company's net sales increased to EUR 76m from 35m. Operating profit amounted to EUR 8.3m, compared with EUR 12m in 2016.

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Prepared by Emil Tange Ohlsen