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Nordic Private Equity deal activity level surging again to current year top levels

KPMG Nordic Private Equity Data Snapshot, October 2020

KPMG Nordic Private Equity Data Snapshot, October 2020

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

Deal activity

  • Nordic monthly, overall PE deal volume reached a level of over 100 deals third time this year. Both Buyout and VC contributed positively to the total volume. The 3-month Nordic rolling figure came to 102%, including a  one peak month for the current and the comparison period.
  • In Finland the monthly overall deal volume increased to minor extent from August and stood at just above the monthly average level of 18 deals within a 13 month horizon. Rolling 3-month figure decreased to 83%, mainly as a result of quiet July counted in to the current period. September included significant deals both in the Buyout and VC field as highlighted in the Deal picks paragraph.
Monthly Nordic Buyout and VC deal volume
pe deal volumes

Fundraisings

  • Nordic Capital announced the final close of Nordic Capital Fund X at EUR 6.1bn. The Fund, launched in April 2020, was oversubscribed at its hard cap and was raised in less than 6 months in a wholly remote capital raise. The new fund is set to continue to focus on majority investments in non-cyclical growth companies in the Healthcare, Technology & Payments and Financial Services sectors.
  • Finnish VC firm Superhero Capital announced the first close of its second fund at EUR 30M. The fund will make seed investments in Finland and the Baltics and aims to invest in 25 startups over the next 4 years. The fund will remain open for new investors until the end of 2020.
Monthly Nordic Buyout and VC deal volume
pe deal volume

Deal picks of the month

  • A public recommended tender offer for all shares in Ahlstrom-Munksjö, manufacturer of fiber-based materials, was made by a consortium consisting of Ahlström Capital, Bain Capital, Viknum and Belgrano Inversiones. The tender offer values Ahlstrom-Munksjö’s total equity at EUR 2.1bn. The completion of the offer is subject to among others approvals by related authorities.
  • Adven, a leading provider of clean energy solutions across the Nordics and Baltics, entered into a definitive agreement to be acquired by institutional investors advised by J.P. Morgan Asset Management.
  • Finnish satellite radar startup ICEYE raised EUR 73m in a deal led by True Ventures. Tesi, EIF and OTB Ventures among others participated in the round. The funds will be used for financing the expansion of its SAR satellite constellation with more spacecraft.
  • Solar Foods, producing a unique single-cell protein out of thin air, has closed its series A financing round with EUR 15M new financing. The largest food-tech financing round in Finland to date was led by Fazer Group with Bridford Investments Limited, Agronomics Limited, Lifeline Ventures and CPT Capital. 

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

How can we help?

The dedicated KPMG Private Equity team offers a spectrum of services including due diligence, deal advisory, management consulting, and IT support to cover all the needs of the Private Equity sector. 

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