Slightly calmer deal environment after the extremely active spring and early summer

KPMG Nordic Private Equity Data Snapshot, September 2021

KPMG Nordic Private Equity Data Snapshot, September 2021

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

PE Data Snaphot, september

Deal activity

  • Deal activity in the Nordic private equity market in August remained at the July level, clearly lower than the hyper active spring and early summer months. However, on a year-on-year comparison the August deal figure was significantly ahead of last year.
  • On a country level, Finnish and Norwegian deals picked up slightly in August, as Finland recorded the lowest amount of deals in July and Norway close to the bottom amount recorded in January. In Sweden and Denmark the situation was other way around as the year to date lowest deal volume occurred in August.
  • The 3-month rolling Nordic deal figure for Finland and Nordic deals dropped below 100% and pointed out a declining level of deals occurred during the preceding 3 months.

Monthly Nordic Buyout and VC deal volume

PE Data Snapshot, september

Fundraisings

  • Danish mid-cap buyout investor Axcel held the final close of its sixth fund on its EUR 800M hard cap. The fund held a first close in February 2020 on EUR 630M. Axcel invests in Nordic mid-cap companies with revenues of DKK 250M-DKK 4bn (~ EUR 34M-537M), focusing on healthcare, consumer goods, industrials and technology sectors. 
  • Early September has been very active in the venture capital fundraising market in Finland with a handful of closings announced already in the first half of the month. These will be reported in detail in the October’s Snapshot.

Monthly Nordic Buyout and VC deal volume

PE Data Snapshot, september

*) 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

  • Intera Partners invested in Avara Isännöinti and Provia Isännöinti creating a new leading player in the Finnish real estate management market. The new company will become one of the largest Finnish real estate management companies. The pro forma revenue of the combined entity is around EUR 10M.
  • MaaS Global, a Finland-based developer of mobile app Whim for mobility services, has raised an additional EUR 11M in its Series B funding round from Ferrovial, TESI, NordicNinja and Mitsui Fudosan. The new funding will enable MaaS Global to increase its B2B and B2C service offering, expand to new markets and play an active role in the consolidation of the Mobility as a Service industry.
  • Mehiläinen, owned by CVC Capital Partners, acquired housing and rehabilitation services provider Vetrea Terveys from Osuuskunta KPY. In 2020 Vetrea generated net sales of EUR 47M. Completion of the transaction requires the approval of the competition authorities.

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