Nordic M&A News
June 15, 2018

- Denmark -

Adelis completes the sale of IT Relation (Borsen)

Swedish PE fund Adelis Equity Partners has sold its majority stake in Danish IT service company IT Relation to private equity firm Hg. The deal ends a two-year holding period for Adelis, which established the business in 2016 through the buyouts and merger of three Danish IT outsourcing companies.  

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Investors are betting on the e-sports Industry (Borsen)Investments in e-sports have exploded in recent years. Denmark is no exception and the e-sports company Rfrsh has received a DKK 200m investment despite negative returns over the past years. The latest financial reports show a DKK 27m loss, but the investors are optimistic and expect to break even in year 3. Rfresh owns the two e-sport teams Astralis and Heroic including the tournament concept Blast Pro Series.

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- Sweden -

Catena Media acquires US stock news portal Hammerstone (DI)

Stockholm-listed performance marketing specialist Catena Media is further expanding its presence in the financial services sector with the acquisition of The Hammerstone Group. Hammerstone generates quarterly sales of about USD 450,000. The initial purchase price, payable in conjunction with the transfer of the assets, amounts to an upfront payment of USD 5m of which USD 2, can be paid with newly issued shares in Catena Media at prevailing market rates and the remainder in cash.

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Recipharm to buy Sanofi's inhalation businesses in U.K. for GBP 45m (DI)

Recipharm has struck a deal with Sanofi to buy the French drugmaker’s contract inhalation drug business and plant in the U.K., picking up new capabilities and clients in the process. Sanofi makes metered-dose inhalers and nasal sprays for contract clients. The deal is scheduled to close in the fourth quarter of 2018, at which point Recipharm will add the plant’s 450 employees.

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Volution Group acquires VoltAir System AB (Press Release)

Volution Group, a leading supplier of ventilation products to the residential and commercial construction markets, recently announced that it has completed the acquisition of VoltAir System AB. The acquisition will be on a debt free, cash free basis for an initial cash consideration of SEK 79.7m. In the financial year of 2016, VoltAir generated revenues of SEK 74.5m with a profit before tax of SEK 13.8m.

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- Norway -

Norwegian Ministry of Finance approves Vipps merger (DN)

A group of Norwegian banks, including DNB, Eika and Sparebank 1 Gruppen, has made an agreement to combine payment units Vipps, BankAxept and BankID Norge in order to improve product offering and prepare for competition against global tech firms. Today the merger got approved by the Swedish competition authorities.

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- Finland -

Inwido acquires Finnish Profin Oy (GoodNewsFinland)

Inwido, Europe’s largest supplier of windows, has signed an agreement to acquire Profin Group, a Finnish family business focusing on premium sliding doors and windows. Founded in 1977, the company has approximately 60 employees and a turnover of SEK 120m. Inwido acquires 100 percent of the shares and closing is expected to occur 1 July 2018.

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Prepared by Emil Tange Ohlsen