We ensure a continuous feed of unique investment ideas based on a combination of proprietary research and structured analysis of relevant news flow and the full space of private equity portfolios and privately-owned firms.
- September 2020: *Egmont prepares for Amazon invasion - eyes acquisitions* As Amazon is on its way to the Nordics, Egmont Publishing, a part of Egmont Media Group, prepares a defense with further acquisitions planned. Torsten Bjerre-Rasmussen, CEO of the subsidiary which has sales of DKK 3.5bn, states that targets are in the Nordics, mainly candidates outside Denmark. Bjerre-Rasmussen sees high potential for e-commerce firms but excludes fashion and grocery trade. Carsten Pingel is Director of Strategy & Execution.
- September 2020: *DBC Invest eyes 10-15 acquisitions within two years* Investment firm DBC Invest, which holds an initial fund of DKK 215m, has announced that it intends to make 10-15 minority investments in biogas plants within the next two years. Director Rune Ledgaard Sørensen states that the Jutland-based firm experiences great interest from farmers and biogas plant owners. DBC has already invested in Grauballegaard Biogas, a Central Jutland biogas plant.
- September 2020: *Curasight looks to IPO on Spotlight Stock Market* The Danish cancer biotechnology company Curasight has announced that it intends to list its shares on the Danish Spotlight Stock Market, seeking a valuation around DKK 200m. The Copenhagen-based firm looks to raise DKK 69.9m in the IPO, and DKK 28.5 in a targeted issue towards two Swedish and a Dutch investment firm. The proceeds will mainly be used for clinical studies, the first step towards approval in the US.
- September 2020: *Pegroco eyes add-ons for its portfolio firms* The Swedish listed SME focused PE firm Pegroco has released its half-year report, where CEO Victor Örn states that the transaction market is picking up speed involving a “good influx of potential candidates for additional acquisitions to our portfolio companies”. Nordisk Bergteknik, which recently acquired Visinor, was also highlighted as a firm where Pegroco sees good opportunities for add-ons.
The complementing M&A Portal provides a complete overview of all private equity funds and strategic investors with previous activity or current portfolio firms in the regions we cover, including investment focus.
Lindbäcks, which has a goal of becoming Europe's most modern producer of apartment buildings, reported revenue of SEK 1.9bn in 2019 with earnings of SEK 131m. The company, which is equally owned by four members of the Lindbäck family with next generation involved, has grown at a sales CAGR of 34 pct. the last three years, but did not manage to grow the top line in 2019. CEO and owner Stefan Lindbäck states that Lindbäck is suffering from growing pain, where the firm, among other things, needs to achieve better efficiency in production.
Monday this week, fifth generation owner and CEO Karin Bodin (46y) received the message that the Polarbröd factory in Älvsbyn was on fire. The burnt down bakery had lately a new bakery line for SEK 150m, and now 58 substitutes has ben laid off, while many FTEs stands without production work of the popular bread brands the family business provides. At a press conference Bodin later stated that the family firm will rebuild the bakery, but are unsure if Polarbröd, which has a 8.6 pct. CAGR, can meet demand from main markets Norway and Sweden. The family firm delivered revenue of SEK 1.3bn with an EBITDA of SEK 257m in 2019.
Family-owned Bonnier looks to sell Real Agency Group
The international media group Bonnier, owned by the Bonnier family, said in January that it was reviewing its ownership of its agencies which it merged into Real Agency Group. Marte Ramborg, the leader of the Norwegian subsidiary of Spoon, states to newspaper Kampanje that Bonnier has been a good owner, and is excited for a new owner. Real Agency Group has around 350 FTEs and reported revenue of SEK 363m with an EBITDA of SEK 20.2m in 2019. Jan Lund is head of EVP Head of Strategy, Corporate Development and M&A at Bonnier.
Gudrun Sjöden (100 pct. 79y) has stepped down as CEO in the fashion company Gudrun Sjöden. She will switch places with VP Ann Adelsson who has been responsible for development within the company and also sales manager for the Nordic countries, the USA and the UK. The company has forecasted revenues for the full year of SEK 865m.
Right before summer, Herenco, the Jönköping-based family-run fourth-generation owner company, released its annual report. The company, owned by Lovisa Hamrin (100 pct., 47y), stated that both add-on acquisitions to existing portfolio firms and divestments remain a part of the company's strategy to drive growth. The portfolio firm Emballator has been an M&A frontrunner, and has previously acquired Finnish Metalpak and Huber, Norwegian Skanem and Swedish Bra Plast. On the sell-off side Herenco has divested Hall Media, and does not exclude further divestments. Alfred Gunnevik serves as Investment Advisor at Herenco.
Snapshot from our weekly "Family-Owned Highlights"