Nordic M&A News
June 21, 2018

- Denmark -

Friheden Invest and North-East Venture invest in Arkk (Borsen)

Two of Denmark's most wealthy families go together and invest a two-digit million sum in the just three-year-old sneaker shop, Arkk, for 28 percent. It is the family Martinsen's investment company, Friheden Invest, which are behind the billion group IC Group, and North-East Venture, which are Pandora founders Per Enevoldsen and Winnie Liljeborg's venture fund. 

Goodvalley looking to IPO in October (Borsen)

Goodvalley is currently working on high pressure to prepare for a listing to October. The company with over 100 Danish farmers in the owner circle now aims to be listed in October with a value of DKK 3-4bn. Goodvalley's CEO, Tom Axelgaard, who is also one of the largest private investors, does not want to comment on the schedule for listing, but he confirms that management has "come a long way in preparation".

- Sweden -

Nord-Lock Group acquires its main distributor in Spain (Cision)

Through its wholly owned Nord-Lock Group business area, Investment AB Latour has signed an agreement to acquire all shares in the Distributor IDQ Investigación Diseno Calidad. Access is scheduled for early September 2018. The acquisition is a natural step in the North-Lock Group's growth strategy and will strengthen local presence in Spain while ensuring a high level of service to Nord-Lock Group's customers. Spain is a significant market for safe screw joints and the goal is to secure continued strong growth for the Nord-Lock Group

Swedol acquires remaining shares in Univern Center Arendal (Cision)

Swedol AB has entered into an agreement to purchase the remaining share in Univern Center Arendal AS. The acquisition will be completed on 1 July. "By now we have full control over Univern Center Arendal, we simplify the Group's structures. With this deal, now all Univern Center will be wholly owned by Swedol" says Swedol's CEO Clein Johansson Ullenvik.

DNB and SpareBank 1 SMN plan to merge insurance operations (Va Finans)DNB and SpareBank 1 SMN have signed a letter of intent to merge their insurance operations, which together would be the third largest player in Norway. Initially, DNB is expected to own 20 percent of the merged business with the opportunity to increase up to 40 percent. The merger is expected to be executed on January 1, 2019, provided that the regulatory authorities approve the transaction.

- Norway -

Midroc expands in Norway through the acquisition of PowerTech (Mynewsdesk)

As of July 1, 2018, the PowerTech Group will become part of Midroc Electro AS. The deal means that 300 employees will switch to Midroc. "We have long seen Norway as an attractive market for us to develop in line with our philosophy of working locally. A strong local affiliation, with leaders and employees who know their market well, is a matter of course for us. In order for it to work well, it's very important that the corporate culture is well-matched, as it does between PowerTech and Midroc" says Mikael Vestlund, Managing Director Midroc Electro.

The Competition Authority approves the St1's Statoil Fuel & Retail Marine acquisition (E24)

The Competition Authority approves the St1 acquisition of the fuel company Statoil Fuel & Retail Marine from the competitor Circle K, but requires St1 to sell any assets. The Authority said in March that it considered taking action against the competition in the market, but St1 will comply with more requirements, and thus it will go through. "We have been worried that reduced competition will increase the cost of companies demanding marine gas oil" says Lars Sørgard, Competition Director.

- Finland -

Gasum diversifies services by acquiring Enegia's energy market services (Cision)

Gasum, the leading gas company in the Nordic region, is purchasing the energy market services business of Enegia, a Finnish energy expert company. The acquisition strengthens Gasum's Nordic strategy by enabling the expansion of services in the wholesale energy market and creating a platform for expanding its product range to its customers.

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Prepared by Oliver Jacobsen