close
Share with your friends

Nordic Private Equity market remains active - Significant deals in the Finnish market

KPMG Nordic Private Equity Data Snapshot, November 2020

KPMG Nordic Private Equity Data Snapshot, November 2020

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

Deal activity

  • Nordic monthly PE deal volume remained on a LTM top levels at around 120 deals. Activity especially in the Buyout space was strong, as the deal volume reached the highest figure for this year in October. The 3-month Nordic rolling deal figure continued to rise, reaching a level of 116%.
  • In Finland, October was a third consecutive month with strong deal activity, especially in the Buyout sector, including both new platform investments and add-ons. Also the VC field had some significant fundraisings. Rolling 3-month deal figure increased substantially to 149%, although largely explained by the summer holiday month July with low activity counting in to the comparison period.
Monthly Nordic Buyout and VC deal volume
deal volume

Fundraisings

  • Early-stage focused VC firm OpenOcean had a first close of its third fund at EUR 85M, with a final target size of EUR 130M. The fund's investors include EIB, Tesi, Elo, OP, Taaleri and a number of family investment companies. OpenOcean invests in growing software companies with an initial target ticket size of EUR 3-4M.
Monthly Nordic Buyout and VC deal volume
deal volume

Deal picks of the month

  • Nevel, a leading district heating and industrial energy solutions company and a subsidiary of Vapo, entered into a definitive agreement to be acquired by Ardian through an estimated EUR 656M LBO. The  transaction is yet to receive clearance from the local competition authorities.
  • Vaaka Partners acquired a majority stake in the engineering and consulting firm A-Insinöörit, that generated a turnover of EUR 77M last year and employs over 800 engineers. The company seeks growth through internationalization and targets to double the turnover by the end of 2025.
  • Kodit.io, a Helsinki-based real estate startup, raised EUR 100M in a combination of equity and debt funding. The round was led by Nordic real estate investor NREP, other undisclosed investors also participated the round. The company intends to use the funds to scale its reach in existing countries, while expanding also into new geographies.
  • Ductor, a manufacturer of a biological fermentation technology, raised EUR 28M venture funding in a deal led by BW Group, one of the world’s leading maritime groups in the tanker, gas, and offshore segments. The deal puts Ductor’s pre-money valuation at an estimated EUR 307M.

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?