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Vivid closing for the year in the Nordic PE market

KPMG Nordic Private Equity Data Snapshot, January 2021

KPMG Nordic Private Equity Data Snapshot, January 2021

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

Deal activity

  • Deal volume in the Nordic PE market in December rose close to the year 2020 monthly peak level reached in October. On a quarterly comparison, Q4 was the busiest deal quarter in 2020, both in the Nordics and in Finland.
  • The 3-month rolling deal figure indicates growth for both the Finnish and the Nordic market, with 152% and 130% figures respectively. The last quarter was active especially in the buyout sector.
  • In Finland the deal activity remained solid in December as it was through the last quarter. December included good amount of deals executed both in the buyout and venture capital sector.
  • Overall, the year 2020 was very active in the Nordic PE deal market in terms of deal volume. The number of deals, taking into account both buyout and VC deals, exceeded the respective level reached in 2019, despite the uncertainty in the market COVID-19 brought in the beginning of the year.
Monthly Nordic Buyout and VC deal volume
Monthly Nordic Buyout and VC deal volume

Fundraisings

  • eQ Asset Management held a final closing at EUR 205M for its latest Northern European private equity fund eQ PE XII North. Simultaneously, a final closing was held for eQ’s secondary fund eQ PE SF III with EUR 170M. eQ PE XII North is a fund of fund investing in private equity funds targeting Northern European small and mid-sized unlisted companies. eQ PE SF III has the same focus as eQ PE XII North, but invests only in secondary funds.
  • Family-owned technology company Ensto joined the energy investment fund Grid.vc as an investor and member of the Advisory Group. Ensto is the third investor in Grid.vc I Ky investment fund.
Monthly Nordic Buyout and VC deal volume
Monthly Nordic Buyout and VC deal volume

*) Numbers represents the number of deals per country and the bar the country’s share of the Nordic aggregate deal volume

Deal picks of the month

  • Adelis made an investment to digital learning company Valamis, providing growth capital to the business in order to further the company’s expansion. Current management-owners will continue in their roles and retain significant ownership going forward.
  • Building systems services company Assemblin, a Triton IV portfolio company, has signed an agreement to acquire Fidelix Holding Oy with subsidiaries from Procuritas. Fidelix is one of the leading players in the Nordics within climate smart building automation and management systems.
  • Klevu, the leading search engine for e-commerce, announced that it has secured funding of $ 12M. The money was raised from investors led by Alfvén & Didrikson and included contributions from EVLI Growth Partners, Jerry Pruttz Holding, and Jonas Dromberg. The funding will further accelerate Klevu’s global expansion and product innovation capabilities.

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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