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KPMG Nordic Private Equity Data Snapshot, July 2019

KPMG Nordic Private Equity Data Snapshot, July 2019

Swedish deals boosting, stabilization in other Nordic markets

Swedish deals boosting, stabilization in other Nordic markets

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Last 3 months Nordic and Finnish Buyout and VC deal activity compared to preceding 3 months

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Deal activity

Overall deal activity level in Finland, and also in the Nordics on absolute basis stabilized on the previous month’s levels, being the highest monthly figures in 2019. Venture capital deal volume growth continued, whereas the number of buyout deals saw a small decline. Number of deals in Sweden reached clearly the highest figure in June for the Swedish market in 2019. 

Due to the slow activity level in the beginning of the year, the speedometers in the graph above show high growth rates for both Finnish and Nordic deals.

Monthly Nordic Buyout and VC deal volume

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Fund raisings

Creandum announced in June the successful closing of Creandum V fund, a €265 million early-stage venture fund focusing on high-potential early-stage opportunities across Europe. The fund was largely oversubscribed. Creandum funds have had several successful tech exits such as Spotify, iZettle and Small Giant Games. Creandum is based in Guernsey and has offices in Stockholm, Berlin and San Francisco.

Monthly Nordic Buyout and VC deal volume

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Deal picks of the month

Wolt, online food ordering platform designer, raised $130 million of Series C venture funding in a deal led by ICONIQ Capital. Lifeline Ventures, EQT Ventures, 83North, Highland Europe and Ilkka Paananen also participated in the round. The funds will be used for the expansion into new markets and hiring across operational countries.

MB Funds has agreed to acquire a majority stake of A-Katsastus Group’s damage inspection and collision repair services as well as statutory vehicle inspection, registration and drivers’ examination services from Bridgepoint. Revenue of the acquired entity in 2018 was €124 M. Closing of the transaction requires competition authority’s approval.

Swedish telecommunications service provider IP-Only Telecommunication, previously held by EQT Mid Market and EQT Mid Market Europe, was acquired by EQT Infrastructure IV through an SEK 19.25 bn LBO on June 11, 2019.

KKR has acquired a 30% minority stake in Norwegian security company Sector Alarm. The transaction is being drawn from KKR European Fund V, a buyout fund currently in the market with a €5 bn target. Jorgen Dahl, CEO and founder of the company, will remain as the controlling shareholder and CEO of the company.