- Denmark -
Sunstone invests in Orbex (Borsen)
A new pan-European space company Orbex has raised 250M DKK in funding from investors including Sunstone Capital. Orbex is based in Denmark and developing a smaller rocket for launch of small satellites. The company has been operating covertly for the last three years but is now ready to bring their plans to reality.
Hydratech reporting significant losses (Borsen)
Hydratech Industries Holding, a Danish producer of hydraulic equipment for the wind, oil and gas sector is reporting a loss of 52M DKK in 2017. Hydratech Industries Holding is currently owned by BWB Partners. The expectation is to make an operating profit for the coming year, but the company is affected by the current price pressure in the wind industry.
Serenergy reporting loss and cuts staff (Borsen)
Serenergy, a Danish producer of fuel cells, is reporting a loss of 90M DKK and as a result, cuts 40 employees. The original founders are also leaving their leadership positions in the company. The current owners of the company are Fischer Group and a representative Roland Fischer will be taking on the position as CEO.
- Sweden -
SSAB sells Ruukki Constructions (News Cision)
SSAB, a Nordic processor of raw steel, sells their Russian activities in Ruukki Constructions to OOO Salavatneftemash. The Russian activities of Ruukki Constructions had a revenue of 400M SEK in 2017, which is only a fraction of the 66B SEK of Revenue in SSAB. One of the reasons for the sale was the uncertainty in the region.
IQS Energi Comfort acquires SENS (Dagens Industri)
IQS Energi Comfort as agreed to acquire Sustainable Energy Solutions Sweden (SENS) for 102M SEK. The companies operate in the renewable energy installation segment. The transaction is in effect a merger of the two companies, which is expected to provide synergy effects and create a market leader.
Telia acquires Bonnier Broadcasting (Borsen)
Telia acquires Bonnier Broadcasting, which includes channels such as TV4, C More and the Finnish MTV. The deal is valued at 9.2B SEK, which is equivalent to a 15,4 multiple (EV/EBIT). Bonnier Broadcasting had a revenue of 7.5B SEK in 2017.
- Norway -
Indutrade acquires Norsecraft Tec AS (News Cision)
Indutrade had agreed to acquire Norsecraft, a Norwegian technology firm specialized in lubrication systems for construction machinery. Norsecraft has a revenue of 50M NOK and 18 employees. The price tag for the transaction was not disclosed.
- Finland -
No news to report