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After a solid 2019 a sluggish start for the new year

Nordic Private Equity Data Snapshot, February 2020

Nordic Private Equity Data Snapshot, February 2020

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

After adding back missing deals from the previous month to the database, the deal flow in December remained relatively steady at the November level and deal volume did not decrease as suggested by the preliminary data. However, market seemed to take a breath in January, as the deal volumes in each Nordic country declined.

The 3-month rolling deal volume for both Nordics and Finland remained at the preceding 3-month levels, held up by the strong deal activity in November and December. On a country comparison, the number of Finnish deals declined the most in January.

Monthly Nordic Buyout and VC deal volume
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Monthly Nordic Buyout and VC deal volume
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Deal picks of the month

Upcloud raised €18 million of venture funding in the form of debt and equity in a deal led by Connected Capital Netherlands. Finnish Industry Investment and Inventure also participated in the round. The funds will be used to grow the company’s product development, technology investments and to grow the marketing team. Upcloud is a developer of cloud-based servers designed to offer data-related services.

Sievi Capital and Finnish Industry Investment agreed to acquire rescue vehicles manufacturer Saurus Oy and a lift manufacturer Vema Lift Oy from Kiitokori Oy for a purchase price of €22 million on a debt-free basis with an EBITDA-based earn-out of €3 million. Following the completion, the acquired companies will be merged into a new company, Nordic Rescue Group, with net sales of more than €30 million and approximately 120 employees.

Accountor ICT, a subsidiary of Accountor, was acquired by Advania, via its financial sponsors PFA Pension and VIA Equity, through an LBO for an undisclosed sum. The acquisition is a part of Advania’s growth strategy and goal to become the leading partner in IT infrastructure, digitalization and managed services, with operations in all Nordic countries.

Online payment platform developer Klarna raised $200 million of venture funding from Commonwealth Bank of Australia, indicating pre-money valuation of $5.21 billion.

Private Equity Data Snapshot compiles monthly deal volume data from Finland and the Nordics. Read our older Private Equity Data Snapshots.

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