Nordic M&A News
June 29, 2018

- Denmark -

Deloitte acquires Danish consulting firm Struensee & Co. (Borsen)

Deloitte acquires Struensee & Co., a management consulting firm specialized in the public sector. Struensee and Co. reported revenues of DKK 31.2m in 2017 and currently has 40 employees. In Denmark, Deloitte had a turnover of DKK 3.1bn in 2016/2017. The consulting area, Deloitte Consulting, which is the second largest business area, had sales of more than DKK 900m in the same period. 

Parken Sport & Entertainment divests Fitness DK to PE firm Altor (Borsen)

Park Sport & Entertainment (PSE), the company behind FC Copenhagen, sells Fitness.dk for DKK 100m to Sats Elixia, a portfolio company of Altor Equity Partners. The sale happens 12 years after PSE acquired Fitness DK for DKK 300m. The divestment affects PSE’s top- and bottom line negatively due to large write-downs in relation to the sale.

Owners of restaurant chain MASH looking to sell out (Borsen)

The steak restaurant chain MASH may soon be up for sale. Deloitte is hired to research the market for a potential buyer on behalf of majority owner Jesper Boelskifte. The company behind the MASH chain, Copenhagen Concepts Aps reported a DKK 3,4m deficit in 2017, where especially restaurant openings in London and Hamburg has been costly for the Danish restaurant concept.

Royal Unibrew acquires Cult for DKK 350m (Borsen)

Royal Unibrew A/S has today entered into an agreement to acquire 100% of Bev.Con ApS (Cult) including brands such as CULT Energy, SHAKER and MOKAÏ. The company has around 40 employees focusing on commercial activities; production and logistics are carried out by third parties. In 2017 Cult reported sales of DKK 200m with an EBIT of DKK 28m. The valuation of Bev.Con ApS has been based on the multiples applying to national beverage positions. 

- Sweden -

Drug container firm Envirotainer close to being sold (DI)

The Swedish refrigerated container company Envirotainer, which manufactures and leases containers for aviation of pharmaceuticals, is close to being sold for more than SEK 11bn in a bidding round that has attracted a lot of interest from primarily PE firms. Envirotainer has approximately 300 employees and reported a profit before depreciation and write-downs (EBITDA) of nearly SEK 700m in 2017, according to DI.

Addtech acquires Prisma Teknik AB and Prisma Light AB (Cision)

Addtech Energy, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Prisma Teknik AB and Prisma Light AB. Prisma Teknik AB and Prisma Light AB will complement Addtech’s current operations in the business unit Energy Products. The Companies have together 27 employees and sales of around SEK 70m.

Catena Media to purchase ASAP Italia for EUR 16m (Breakit)

Catena Media has agreed on a deal to acquire sports news and lead-generator ASAP Italia for EUR 16m. In addition, Catena could make an earn-out payment of up to EUR 6m, based on the revenue performance of the business over a period of one year. Catena said the acquisition will allow the company to take a “major stake in the Italian market”, with ASAP Italia generating monthly revenues of approximately EUR 300,000.

- Norway -

Holta Invest – New majority owner in clothing firm Morris Stockholm (DN)

Morris Stockholm is distributed to 270 fashion stores around Scandinavia. During last year, Morris Stockholm traded SEK 160 million with a profit of SEK 10 million. Now the Norwegian investment company Holta Invest takes over the helm. Holta becomes the principal owner of the company behind Morris Stockholm, J.M. Alsén Design AB, for an undisclosed purchasing price. The Alsén family retains 40 percent of ownership of the company.

- Finland -

Media giant Sanoma looking to acquire newswire STT (Yle Uutiset)

Finish media firm Sanoma is to buy a majority stake in the Finnish news agency STT after announcing it will buy the stakes held by newspaper firms Alma Media and Turun Sanomat, bringing the Sanoma stake up from 33 percent to 75.4 percent. STT has some 120 employees. “We genuinely believe that there is a need and demand for a Finnish news agency,” said Sanoma Media Finland, CEO Pia Kalsta in a statement.

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Prepared by Emil Tange Ohlsen