Nordhaven tops the league tables in Q1/2018

28 mar 2018

During Q1/2018, Nordhaven Corporate Finance has acted as financial advisor in seven announced M&A transactions, making us the #2 ranked M&A advisor in the mergermarket 2018YTD statistics involving Finnish, Norwegian and Swedish targets. Short descriptions of our most recent transactions can be found below.

Nordhaven was founded when PCA Corporate Finance in Helsinki, Steinvender in Oslo and Navigo Partners in Stockholm joined together to become the leading independent financial advisor in the Nordic region.

Tradeka - MedGroup - Adelis

We advised Tradeka in the acquisition of Med Group’s home care services, ambulance services and staffing of medical personnel businesses from Adelis Equity Partners.

Med Group is a Finnish care and healthcare services company with revenues of EUR100 million. Tradeka is a Finnish consumer co-operative with revenues of EUR 551 million and pre-tax profit of EUR 108 million in 2017. In the same transaction, Colosseum Dental Group acquired the private dental care operations of Med Group.

 

Ratos - Jøtul – OpenGate

We advised the Swedish investment company Ratos on the sale of Jøtul to the US-based PE firm OpenGate Capital for approximately NOK 360 million (EUR 35 million) in enterprise value. Based on rolling 12-month results, the implied valuation multiples in the transaction were 0.4x sales and 33x EBITDA.

Founded in 1853, Jøtul manufactures stoves, fireplaces and inserts. Ratos has owned Jøtul since 2006.

 

State of Finland - Raskone - Lease Deal Group

We advised the Finnish state and its wholly owned special assignment company Governia on the sale of Raskone to Lease Deal Group, a Finnish conglomerate.

Raskone specializes in the servicing and maintenance of utility vehicles and has sales of approximately EUR 60 million.

 

Verne - Axel Johnson

We advised Egil Verne on the sale to Axel Johnson International. Egil Verne is a distributor of vehicle components to the Norwegian market with sales of approximately NOK 100 million (EUR 9.6 million) and EBITDA of NOK 27 million (EUR 2.8 million).

Axel Johnson is a Swedish family business that builds and develops trade and service businesses in the European market. Its Transport Solutions business group comprises leading European providers of cargo securing solutions and vehicle components and had sales of EUR 150 million in 2017.

 

FMT – thyssenkrupp

We advised FMT in the sale of its aircraft gate docking system division to thyssenkrupp.

FMT is headquartered in Sweden and is engaged in the development, design, manufacturing, and delivery of innovative passenger handling and operational support systems for airports and seaports around the world. thyssenkrupp is a diversified industrial group with more than 158,000 employees across 79 countries.

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