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High activity level in the PE market holds up in the Nordics

KPMG Nordic Private Equity Data Snapshot, April 2021

KPMG Nordic Private Equity Data Snapshot, April 2021

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

Deal activity

  • Adding the deals occurred in February that came to the databases after the publication of the March Snapshot, the overall deal volume in the Nordics in February remained at the January level. March continued the positive momentum in the deal environment with a minor increase in the number of deals compared to February.
  • The 3-month rolling deal figure in February, 110%, shows growth for the Nordic aggregate deals. The preceding tertile since December has clearly been the most vivid period during the past year.
  • In Finland the 3-month rolling deal figure came to 83% as January and February, even though being active months as well, were slightly lower in terms of the number of deals compared to the months at the end of the 2020.
Monthly Nordic Buyout and VC deal volume
Deal volume

Fundraisings

  • Norvestor announced the final close of Norvestor VIII fund, at EUR 800M. The team has local presence in Norway, Sweden, Finland and Denmark. The strategy of the new fund is to continue to support Nordic buy & build with the team’s operational oriented growth-driven focus. Norvestor VIII has already made four platform investments, including Finnish companies PHM and Smartvatten.
Monthly Nordic Buyout and VC deal volume
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

  • Aiven, a software company combining open source technologies with cloud infrastructure, raised $100M in its Series C round, bringing the company’s total investment to $150M at a valuation of now more than $800M. The round was led by Atomico, with participation from Salesforce Ventures and World Innovation Lab as new investors. 
  • CapMan Buyout invested in Pharmia, a leading food supplement and medical devices specialist in Finland. CapMan acquired a majority equity share in the company, with the owner family of Pharmia retaining a significant share. Pharmia is the second investment of the CapMan Buyout XI fund, which was established in 2019. 
  • HopLop Group, Finland’s largest chain of adventure parks, was acquired by CapMan Special Situations fund. The first investment of CapMan’s newly established Special Situations fund  enables a critical restructuring of HopLop’s balance sheet and secures the continuation of the business through the Covid-19 pandemic.

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