Transactions

Transactions

Latest deals

2019
Adviser to
on the sale to 4Service
Norvestor backed 4Service strengthens their offering within the premium business canteen segment by acquiring bRest. Nordhaven Corporate Finance acted as sole financial advisor to the shareholders of bRest in their sale of shares and reinvestment in 4Service.

bRest is a well renowned high-end business canteen provider serving the greater part of Oslo. With their core focus on high quality ingredients, food and people they quickly established themselves as a leading player within the premium segment. Today the firm consists of 90 employees and a stable portfolio of highly satisfied customers delivering in excess of MNOK 100 in revenue.

“4Service has within its 9-year history taken a leading position within the facility management industry. With this acquisition we further strengthen our position within the premium canteen segment. In addition, the bRest team with its long track record and high competence will add significant value to our organization as a whole and to our core management team. Product diversification is a core part of our strategy, and with the addition of bRest we are able to increase this even more providing tailored solutions to each client.” – Tor Rønhovde (4Service)

4Service was established in late 2010 by leading characters from the industry. Their core ambition is to offer their clients better products and service than else ware in the industry. Today the group staffs 2 400 dedicated employees and generates in excess of MNOK 1 500 in revenue. The group is owned by the private equity fund Norvestor and the employees

Completion pending on evaluation by the authorities.
2019
Adviser to
on the acquisition of Datalight
We acted as exclusive financial advisor to Tuxera, the world-leading storage software and networking technology company, on the acquisition of Datalight, a North American developer of embedded file systems.
From a strategy point of view, this transatlantic acquisition was very important to establish Tuxera as the leading company worldwide with the widest portfolio in our market and to serve our demanding customers in the best possible way. We are greatly impressed about and thankful for Nordhaven's dedication, expertise, flexibility, value-add and leadership throughout this complex transaction. We look forward to working with them in the future" says Szabolcs Szakacsits, President & CTO at Tuxera.
2019
Adviser to
on the acquisition of Oy DL software Ab, Cash-in Consulting Oy and Computer Program Unit Oy
We acted as financial advisor to Abry Partners, a US-based information and business services focused private equity fund, on the acquisition of DL Software and Cash-in Consulting in Vaasa as well as Computer Program Unit (CPU) in Joensuu. The companies have combined revenues of more than 15 million EUR in 2019 and a total of 117 employees.

Abry together with the management of the acquired companies have founded Confirma Software AB, a new Nordic platform focusing on acquiring strong enterprise software companies with specialized offerings for SME customers in the Nordic countries.
Nordhaven's contacts and knowledge of the Nordic software sector has been instrumental for us in realizing this investment. Moreover, the team's support in the execution of the initial acquisitions was of the highest quality" says Rob Nicewicz of Abry Partners.
2019
Adviser to
on the sale of their shares in VESO
Nordhaven Corporate Finance acted as exclusive financial advisor to the Norwegian Ministry of Trade, Industry and Fisheries (Nærings- og Fiskeridepartementet – NFD) in the sale of their 34 % share in Veterinærmedisinsk Oppdragssenter AS (VESO), to Aquanova Invest AS.

For further information regarding the sale, see the press release from the Norwegian Ministry of Trade, Industry and Fisheries: https://www.regjeringen.no/no/aktuelt/staten-har-solgt-seg-ut-av-veterinarmedisinsk-oppdragssenter-as-veso/id2652739/.

About VESO

VESO was established by the Norwegian Agricultural Research Council 1988. The company has two business areas: distribution of pharmaceuticals for animals in the Norwegian market and clinical infection tests on fish in connection with vaccine development, feed development and breeding. The company is headquartered in Oslo, with distribution centres in Oslo, Vestby and Puerto Varas in Chile, while the clinical laboratory for fish infections is located outside Namsos in Trøndelag, and Colaco in Chile. The company's operating revenue, including subsidiaries, totalled MNOK 567 for 2018 with an EBITDA of MNOK 14.
2019
Adviser to
on the sale to F24
Nordhaven Corporate Finance acted as exclusive financial advisor to One Voice AS and its shareholders in the sale to F24 AG, a portfolio company of Armira Partners. One Voice is the leading SaaS provider of incident and crisis management solutions in the Nordic region. By joining forces, One Voice and F24 will become the undisputed market leader within incident and crisis management solutions in Europe.

One Voice was founded in 2006 in Trondheim, Norway. The flagship product, CIM, enables organisations across a multitude of industries to take care of its values and reputation before, during and after an incident. In 2017 One Voice acquired AI Control Point UK and opened its international office in London.

F24 was founded in 2000 and is headquartered in Munich, Germany. F24 supports companies and organisations in more than 80 countries with its subsidiaries and branches in 11 locations. Around 1 700 customers rely on the solutions of F24 to manage their communication requirements as part of the daily communication of critical and confidential information or in the event of a crisis. Armira Partners Germany is the majority shareholder of F24 and was advised by Raymond James in the transaction.

By joining forces, F24 further strengthens its leading Pan-European market position in the field of emergency notifications, crisis management and critical communications. By acquiring 100% shares of One Voice, F24 increases its existing customer base to 2 500 by adding over 700 customers from One Voice in the Nordic countries and United Kingdom. Collaborating with One Voice accelerates F24’s growth plan as part of the 1st phase of their buy-and-build-strategy.

The founders of One Voice, Frode Lien Otnes and Kjetil Mollan will continue their work and play an important role in creating a common future, in addition to re-invest a significant part of their proceeds

“As a new member of the F24 family, we are delighted to actively shape the future together and to further develop solutions that fully meet the growing requirements of all our customers.” says Frode Lien Otnes, founder of One Voice and CEO.

Founder and international business director of One Voice, Kjetil Mollan, adds: “What unites us is, amongst others, our approach to work very closely with our customers. Our aim is and always will be to offer our customers highest quality services – together with the F24 Group we will not only continue this work but be able to extend it even further.”

Dr. Jörg Rahmer, spokesperson of the F24 executive board and responsible for strategy, product and operations, states: “We are delighted to welcome One Voice AS to the F24 family. One Voice’s main product CIM not only extends our product portfolio but is also a next and significant step on our journey of establishing the leading pan-European crisis management and emergency notification platform.”
2019
Adviser to
on debt financing
We advised Versowood in renegotiating its short term financing. Versowood is Finland's largest private sawn timber producer and sawn timber supplier.
2019
Adviser to
on the sale to Polap-Team
We advised luxury brand Balmuir and its founders in the sale of the company to Polap-Team Oy, the parent company of the largest Nordic apparel company L-Fashion Group who, among others, owns the Luhta and Icepeak brands. The transaction included all of the shares in the company.

Balmuir is a rapidly growing lifestyle and fashion brand offering fashion accessories and interior decoration items made from the finest natural materials. The company’s average growth rate has been in excess of 30% during the past five years. In the financial year ended March 2019, Balmuir generated revenues of 8.3 million euros.
It was a pleasure to work with Nordhaven. With their help, we were able to find Balmuir the best new owner that can support the company’s growth strategy and strengthen its international operations. When you are selling your life’s work, it is crucial that the advisor is wholeheartedly and professionally giving their best in supporting you and achieving the best possible outcome for you” says Heidi Jaara, Managing Director of Balmuir.
2019
Adviser to
and its owners on the sale to AVK Group
Nordhaven Corporate Finance advised Øyhovden Invest AS in the sale of Furnes Jernstøperi AS to the Danish Industrial group AVK Group. The sale also includes the subsidiaries and sister companies Øyhovden Trading AS and Randers Jernstøperi AS.

Through 40 years of active ownership, the Øyhovden family has been instrumental in the development of Furnes Jernstøperi AS. The family had an ambition to find an industrial, long-term owner with a willingness to support the business going forward. The family is pleased to enter into the agreement with AVK Group, which is perceived as a good fit both in terms of people, competence, energy and the desire for continued long-term development of the business. AVK Group is a solid international industrial player, with a well-recognized value perspective. Øyhovden Invest AS is therefore confident that the company will continue its great development shown in recent years.

Furnes Jernstøperi AS was established in 1958 in Brumunddal, Norway and moved to Stange municipality in 1967, and is today a world-class producer of manhole covers and associated products. Since 2016, the business has grown from a turnover of NOK 234 million (EUR 24 million) to NOK 310 million (EUR 32 million) in 2018, with solid financial results.

About Øyhovden Invest AS

Following the sale, Øyhovden Invest AS will continue to be an active owner in Hamjern AS, Core-tech AS, Container Gruppen Norge AS, Munck Cranes AS and Hamjern Eiendom AS. These companies are expected to have revenue of approximately NOK 420 million (EUR 44 million) in 2019, and currently have about 150 employees.

About AVK Group

With a turnover of NOK 7.2 billion (EUR 750 million), the AVK Group is a global market leader in valves and hydrants, which are part of vital infrastructures in the form of water and gas supply, waste water treatment and fire control, as well as a large number of industrial applications. AVK is family owned and has its headquarters in Skovby / Galten near Aarhus in Denmark. The Group has more than 100 production facilities and sales offices worldwide, and employs just over 4,000 people.
2019
Adviser to
on the design of equity-based incentive plans
We advised Ahstrom-Munksjö in designing a one-off matching share plan for to be offered to key persons and a restricted share plan as a complementary structure for specific situations. Ahlstrom-Munksjö is one of the world's leading players in sustainable and innovative fiber solutions.
2019
Adviser to
on the design of equity-based incentive plans
We designed an all-employee matching share plan 2019–2021 and stock options to be offered to selected key personnel of Nixu. Nixu is a cybersecurity services company.
2019
Adviser to
and its owners in the sale to Donges Group
Nordhaven Corporate Finance advised Normek Group and its owners, Intera Fund I Ky and private shareholders, in the sale of Normek Oy to German Donges Group. Normek is one of the leading steel building construction and façade solutions companies and operates mainly in the Finnish and Swedish market.
With the help of Nordhaven and its international Clairfield network, we were able to reach out to a wide buyer universe and we found an excellent buyer for Normek” says Vesa Uotila from Intera Partners.
2019
Adviser to
on the design of an equity-based incentive plan
We designed a performance share plan for the management and key employees of Altia. Altia is a leading Nordic alcoholic beverage brand company operating in the wines and spirits markets in the Nordic countries, Estonia and Latvia.
2019
Adviser to
on the design of equity-based incentive plans
We designed a performance share plan as the main structure and a restricted share plan as a complementary structure for specific situations for selected members of the management and selected key employees of Nokian Tyres. Nokian Tyres is a tyre manufacturer.
2019
Adviser to
on the acquisition of N-Clean
Nordhaven Corporate Finance advised Miab Ab, the largest independent cleaning and facility management company in Sweden, in the majority acquisition of N-Clean Oy, a Finnish cleaning company. The transaction creates the leading Nordic cleaning and facility management company with annual revenues over EUR 100 million.
With the help of Nordhaven, we were able achieve all the targets we set for this transaction and even exceed them. The result was excellent for Miab and also for the Nurmi family who are the founders of N-Clean. I am highly satisfied with the work done by Nordhaven. Their strong commitment, personal level involvement and professionalism was impressive and made a decisive contribution to the successful outcome of the transaction” says Paavo Nerg, the founder and main owner of Miab.
2018
Adviser to
on the design of an equity-based incentive plan
We designed a restricted share pool as a complementary structure for specific situations for selected key employees of Valmet. Valmet is a leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries.
2018
Adviser to
on the design of equity-based incentive plans
We designed a matching share plan for the top management and a performance share plan for the middle management and selected key employees of Alma Media. Alma Media is a media company focusing on the service business and journalistic content.
2018
Adviser to
on the design of an equity-based incentive plan
We designed a performance share plan for the key employees of Caverion. Caverion is among Europe’s leading providers of technical solutions for buildings and industries
2018
Adviser to
on the sale to Verdane Edda
Private equity fund Verdane Edda acquires and merges the two leading Nordic HCM software players - Webcruiter AS and HR Manager AS. Nordhaven Corporate Finance advised the owners of Webcruiter in the sale of their shares to the new group.

HR and recruitment are areas of increasing importance to corporate strategy, and is as much a "retain and develop" knowledge field as recruitment of the best talents out there. Having the right tools at hand for this job is imperative.

"HR Manager and Webcruiter are both very interesting companies with highly modern solutions developed by very skilled teams. The combination of the two will be able to offer even better products and services to new and existing clients throughout the Nordics. We look forward in supporting them in their Nordic expansion with our expertise, network and experience." - Johnny Rindahl (partner Verdane).

Webcruiter AS
Leading Norwegian provider of born cloud recruitment software. 30 employees in Oslo serving 400 clients both within the public and private market. Software handling +1.9 million applications annually from 120 countries world wide. Core strength is integration with other public systems required. Revenue 2018 of MNOK 49 with a large portion of recurring revenue (+85%). New and modern technology platform launched during 2017/2018.
2018
Adviser to
on the acquisition of Idium AS
1881 Group acquires Idium AS and secures the #1 position in Norway within corporate web-pages. Nordhaven Corporate Finance assisted the management and owners of 1881 Group in the transaction.

"This is a perfect match. With the combination of Idium and Develo 1881 we have a portfolio of 4 000 web-pages and by that a clear market leader. The acquisition will strengthen our competence within digital marketing, and completing our online service offering to corporations" - Asgeir Ohr (CEO 1881 Group AS)

"The acquisition of Idium is an important step for 1881 Group enabling them as a full scale service provider to the SMB market" - Gunnar Jacobsen (Investment Director Kistefos)

Idium AS
Digital marketing agency serving the Norwegian SMB market with both marketing advisory and web-page services. Revenue 2017 of MNOK 66.

1881 Group AS
Norway's leading provider of personal and corporate information (phone numbers, addresses, real estate prices, company financials, etc) - both digital and traditional. Weekly used by more than 1.4 million Norwegians. Fully owned by the private investment company Kistefos. Revenue 2017 of MEUR 38.

2018
Adviser to
on the design of equity-based incentive plans
We designed a performance share plan as the main structure and a restricted share plan as a complementary structure for specific situations for selected members of the management and key employees of Neste. Neste is engaged in the refining and marketing of petroleum and petroleum products.
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