Nothing changes but the year?

KPMG Nordic Private Equity Data Snapshot, January 2022

KPMG Nordic Private Equity Data Snapshot, January 2022

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

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Deal activity

  • The deal volumes in the Nordic PE market in December and during the last quartile of 2021 remained rather stable and around the monthly average levels of the whole year. Overall, the Nordic aggregate PE deal volume in 2021 was nearly 60% higher than in 2020.
  • Last three months deal speedometer of the Nordic deals in December stood at 110%, depicting growth compared to the preceding three months period. In Finland the respective figure came to 153%. The last tertile in Finland after the more quiet summer months July and August was very active and the same rumble seems to have continued in January. 
  • As there seems to be no changes visible in the deal environment and loads of money is seeking targets, the deal activity level is likely to remain high, at least in the short term.

Monthly Nordic Buyout and VC deal volume

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Fundraisings

  • Vaaka Partners raised a new EUR 250M fund, Vaaka Partners Buyout Fund IV Ky. The fund was significantly oversubscribed in a rapid process that lasted only 11 weeks. The fourth fund continues Vaaka’s strategy to support medium-sized Finnish companies in achieving ambitious growth targets. 
  • DevCo Partners raised EUR 260M for DevCo Partners IV, its latest fund dedicated to a long-term hold, single-asset strategy. The Fund’s investor base consists of leading Finnish and Northern European investors. DevCo’s business model is characterized by a focus on a limited number of companies, hands-on involvement in company development and a long investment.

Monthly Nordic Buyout and VC deal volume

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*) 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

  • Oddlygood Global, a plant-based products manufacturer, closed its first round of financing and received a EUR 25M investment from Mandatum Asset Management. Valio spun off the Oddlygood business in the spring 2021 and continues as the company’s majority shareholder.
  • Koiviston Auto (Metsäpietilä Oy), the largest bus operator in Finland, was acquired by CapMan Infra. The transaction is subject to customary closing conditions and is expected to close during Q1/2022. 
  • Enfuce, the leading European Card-as-a-Service (“CaaS”) platform for modern card issuing and processing, announced a successful EUR 45M Series C round led by Vitruvian Partners. The new capital will be used to further accelerate international growth as well as technology platform development.

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