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KPMG Nordic Private Equity Data Snapshot, September 2019

KPMG Nordic PE Data Snapshot, September 2019

Fluctuation in the Nordic PE deal volume continued, outlook remains stable

Fluctuation in the Nordic PE deal volume continued, outlook remains stable

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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

The slowdown of the Nordic PE deal volumes continued in August, although with a decelerated pace compared to the rapid decline in July. Three month rolling deal amount still signals growth due to the sluggish start for the year.

Both the buyout and venture capital deal volumes on a Nordic level declined in July together with the total deal volume. Norwegian and Danish markets recorded rising deal volumes, whereas the wariness in the Finnish and Swedish volumes continued.

Monthly Nordic Buyout and VC deal volume

     

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Fundraisings

No new Nordic fundraising were recorded during August.

During the H1 2019 the Nordic region saw an increase of 78.5 % in the total amount of capital raised compared to H2 2018 according to Unquote data. Largest buyout funds closed during the first half of the year remain to be Altor Fund V (€2.5bn) and Summa Equity Fund II (€626). In the VC space major fundraisings were Creandum V (€265m) and byFounders Fund I (€100m).

Monthly Nordic Buyout and VC deal volume

  

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Deal picks of the month

Finnish mobile game developer, Seriously  Digital Entertainment Oy, was acquired by Israelian Playtika, via its financial sponsors CDH Investments, Hony Capital and Yunfeng Capital, through a €236m LBO on August 26, 2019.

Klarna Bank AB received €411m of venture funding from Commonwealth Bank of Australia, Dragoneer Investment Group, IPGL, Merian Chrysalis Investment, IVP, HMI Capital, Första AP-fonden and BlackRock on August 6, 2019. The transaction values the company at €4.9bn. The company intends to use the funds to continue its growth in the US market, where it is currently growing at an annual rate of 6 million new US consumers.

EQT entered in to an agreement with IK Investment Partners to acquire Ellab A/S, a Danish developer and supplier of thermal validation products on August 7, 2019 for an undisclosed sum. Previously, the company was acquired by IK Investment Partners and its management through a DKK900m LBO on August 4, 2016.