Swedbank Robur to accept PE firm Triton's bid on HIQ
September 25, 2020
In August, the Pan-European PE firm Triton submitted a bid of SEK 70 per share to acquire Swedish HIQ, valuing the company at a Pro-Forma EV of SEK 4.01bn, and a 2019 EV/ EBITDA multiple of 14.7x. Swedbank Robur, the asset management arm of one Swedbank has decided to accept an increased offer of SEK 72 per share. HiQ is a management consulting firm focusing on technology design and the company reported net sales of SEK 917m YTD. Partner Sven Ivar Mørch has previously stated that if the acquisition success, HIQ plans to go on an acquisition hunt to build a leading Nordic management consultancy. Swedbank Robur's funds' ownership in HiQ amounts to 6.3 pct. of the capital and votes. HIQ's largest owner, fund management Lannebo Fonder with 9.1pct. of the shares, has so far declined to comment further.
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