Exceptionally strong year in the Nordic private equity sector turning to on end

KPMG Nordic Private Equity Data Snapshot, December 2021

KPMG Nordic Private Equity Data Snapshot, December 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

Deal Activity

  • Abnormal, or new normal, year is turning to on end. With still one month left of the deal statistics, year 2021 has already broken several records in the financial markets. The PE deal environment has been favorable, characterized by strong leveraged lending markets, willing sellers, heightened dry powder, and massive fiscal stimulus. The exit activity has also been strong and the share of IPO’s as an exit route has been exceptionally high. The number of IPO’s in Finland is likely to hit a new record this year and the boom in public listings has been visible throughout the Nordics.
  • November continued the solid deal activity in the Nordics, although the number of deals was slightly below the LTM average. The rolling 3-month speedometer returned to point out growth after two of months´  decelerating trend caused by the lower amount of deals in July-August.

Monthly Nordic Buyout and VC deal volume

Monthly Nordic Buyout and VC deal volume

Fundraisings

  • Adelis Equity Partners announced the final close for Adelis Equity Partners Fund III on EUR 932M. Adelis acquires Nordic mid-market companies with revenues of EUR 10-300M, aiming to partner with owners and management. The firm focuses on three sectors: technology services and software, business services as well as health and life sciences.
  • Tallinn-based Karma Ventures has closed its second fund with a hard cap at EUR 100M. The firm will use the capital to continue backing the most promising early-stage European deeptech startups in seed and series A rounds, with a ticket size ranging up to EUR 5M.

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

  • IK Partners announced it has signed an agreement to acquire Renta Group from Intera Partners, alongside management and employees, who will be reinvesting. Renta is a full-service machine and equipment rental services company with revenue of nearly EUR 300M. Renta was established in 2016 following the combination of three well-known Finnish companies with Intera’s assistance.
  • Norvestor has signed an agreement to acquire majority of the shares in Pinja Group from MB Funds. Pinja is a leading digital transformation partner for industrial companies and digital society. Pinja is headquartered in Jyväskylä, Finland, with annual pro forma revenues of approximately EUR 40M.
  • Dispelix has raised $33M in a Series B funding round. The company makes single-layer waveguides and see-through displays, primarily focused on AR applications. The funding round was led by Atlantic Bridge alongside new investors CCB Trust and Flashpoint and previous investors e.g. Lifeline Ventures and Tesi following.