Transactions

Transactions

Latest deals

2022
Adviser to
and its shareholders in the sale to Triton
Neptune Software is a global leading low-code platform with 3.5 million end-users. The platform is used by customers such as Vodafone, Johnson & Johnson and Hitachi.

Founded in Norway in 2011, Neptune offers a best-in-class SaaS solution to industrialise the development of custom business applications, saving customers time and money on development, integration and operations.

“Neptune Software has an attractive SaaS business in a segment that has significant growth potential. LCNC platforms could cover some 75 percent of newly developed business applications by 2025, and the fundamental scarcity of IT-talent and need for efficiencies within organisations make LCNC platforms essential going forward. With this investment we aim to back the company´s further commercial development while also expanding its presence in key geographies”, says Per Frankling, Investment Advisory Professional at Triton and member of the TSM II Investment Advisory committee.

Neptune Software today employs about 100 full-time employees across offices in Norway, Germany, the UK, and the USA, and has partners in 40 countries globally.

“Co-operating with an international investor such as Triton enables us to further develop our global business ambitions and scale important parts of our commercial organization while continuing to service our current clients with the existing product range. Furthermore, Triton's deep experience from sectors which are also at the core for us will benefit our future client offering.” says Andreas Grydeland Sulejewski, Co-founder and CEO at Neptune Software.

About Neptune Software
Neptune Software is a rapid application development platform vendor with more than 650 enterprise customers and over 3.5 million licensed end users globally that empowers IT departments to deliver tangible business outcomes. With its Neptune DXP, Neptune Software offers a leading low-code, SAP-centric, enterprise app development platform to digitize and optimize business processes and user interfaces – at scale and with ease.

Neptune DXP provides a fast and cost-effective way to industrialize the development of custom applications – saving companies time and money on development, integration, and operations. More information www.neptune-software.com

About Triton
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer and healthcare sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.

The 49 companies currently in Triton's portfolio have combined sales of around EUR 18 billion and employ around 104,000 employees. Triton has raised EUR 15.6 billion from 180≈ investors, including public and private pension funds, endowments and sovereign wealth funds.
2022
Adviser to
backed by Keensight Capital, in the acquisition of Focus Software
Sogelink joins forces with Focus Software to strengthen its position as a European Construction Technology leader, with the support of Keensight Capital.

Sogelink, a leading provider of software solutions for infrastructure, construction, and property management professionals, acquired Focus Software, a Norwegian leader in Building Information Modelling (BIM) software, to continue reinforcing its leading pan-European construction technology offer.

Established in 1996 and headquartered in Billingstad, near Oslo (Norway), Focus Software is a market leading Building Information Modelling software company. It provides its software solutions to a wide array of clients and over 16,000 users, ranging from private companies (home builders, architects, landscape architects) and engineering consultants in the infrastructure and building sector, to public authorities.

Focus Software is composed of around 50 highly skilled professionals that have developed and integrated various early stages construction design solutions throughout the years. These include software solutions such as applications and cloud-based collaborative tools for such tasks as presenting digital plan data with the authorized and correct geometry, and for preparing land acquisition drawings, tender specifications on graded networks, or building specifications according to specific regulations or frameworks. Since its inception 25 years ago by six co-founders, Focus has grown significantly through strong organic growth. Its customer base is well-developed in the Nordic region, notably in Norway and Sweden.

Fatima Berral, CEO of Sogelink, commented: “Focus Software was a natural fit to complete Sogelink’s offer on the project design segment, which intervenes upstream in the value chain. Together, we share a common client culture oriented towards public authorities, construction companies, architects and civil engineers that will help us develop the Group’s presence in the Nordics. Gaining access to this new geography will allow Sogelink to enter a very dynamic and innovative construction market and to reinforce itself in the engineering & BIM software segment.”

Pål Eskerud, Chief Executive Officer at Focus, added: “We are very proud to integrate the Sogelink Group in which we have found a solid and trusted partner to keep on developing our presence throughout Europe. We believe they are the best fit for us at Focus Software, and we are looking forward to working together and sharing our knowledge to further shape the future of construction technology.”

Jean-Michel Beghin, Managing Partner, & Arjan Hannink, Partner at Keensight Capital, continued: “With this second acquisition, along with the acquisition of LOCATIQS Group, Sogelink is growing at a fast pace to consolidate its position as a real European leader in construction technology. Keensight Capital is proud to have contributed once again to this acquisition process and will continue to support the Group in its future development endeavors."
2022
Adviser to
and its shareholders in the sale to Pearl Group, backed by Norvestor
Convert and Pearl Group have entered into an agreement to form a new e-commerce powerhouse. Combined, Convert and Pearl Group will build a leading e-commerce company combining best-in-class customer journey and technology to ensure customers’ need. The new entity will be named PearlConvert.

PearlConvert will have 110 employees in Oslo, Riga and Gdansk. Pearl Group will after the acquisition have 330 employees in Norway, Sweden, Finland, Latvia, Poland, Ukraine, and Singapore.

“Convert is a company that has proven a lot, to where they have now emerged as a leading player within e-commerce in Norway and delivered a large number of e-commerce solutions to reputable companies such as Bohus, Eplehuset and Bjørklund. However, the most important factor for us at Pearl is the competence and culture we met there. The focus on how we can create value for customers, and a strong culture of innovation and development was an important reason why we found each other", says Geir Thoresen, CEO of Pearl Group.

"I cannot imagine a better partner for Convert than Pearl Group. Together we will offer our customers unique solutions and competitive terms from a professional environment that is stronger than ever. Our employees will have new development opportunities and exciting new challenges", says Torkel Johannessen, CEO of Convert.

Convert is one of the largest agencies within digital commerce in Norway, with over 75 employees. The company delivers market-leading technology and focuses on long-term customer relationships and value creation for its customers. This has resulted in strong and steady growth since its inception in 2015, with a number of widely respected companies on the customer list.

Pearl Group has developed e-commerce solutions for many of the region's most well-known companies. The solutions include sophisticated "click and retrieve" features that were already experiencing strong growth that further intensified during the corona pandemic. The company sees a large and continuously growing market for its services in the Nordic region and has medium-sized and large companies with advanced IT needs as its main target group.

"Pearl Group will grow to a turnover of 1.5 billion NOK by 2026. PearlConvert will be an important part of this development", concludes Geir Thoresen.
2022
Adviser to
and its shareholder in the sale to Waterlogic, backed by Castik Capital
The Pure Water Company is a supplier of water purifier systems for Office & Horeca in Norway and UK, with recent expansion into Sweden and Denmark. The Pure Water Company offers a unique solution for customers who recognize the benefits of having a fully integrated water system built into their building’s infrastructure, providing purified water to multiple dispense points through a single, secure unit.

The acquisition of the business expands Waterlogic’s reach and foothold in the Nordic market and will provide an excellent opportunity to introduce and offer an even wider range of hydration solutions

Mattias Källemyr, CEO Waterlogic Nordic, says, “We are continuing our growth in the Nordic region and can now offer additional solutions that are already trusted and well-recognised in the market. This is strategically important for us as a company, but also provides greater choices for our customers.”

Carsten Albæk, CEO / Head of Sales of The Pure Water Company, says, "We are very excited to join Waterlogic and together we become a unique alternative for customers in all segments. The bespoke water solutions that Pure Water provides will add the last piece of the puzzle to Waterlogic’s ability to offer a complete range of water solutions.”

About The Pure Water Company:
Since its inception in 1997, The Pure Water Company has provided water purification systems to a wide range of customers, from start-ups and large enterprises to restaurants and hotels in Norway, Denmark, Sweden and the UK. Pure Water provides water purifier systems through both traditional under-the-counter solutions and also water purifier systems that are fully integrated into a building’s infrastructure.

About Waterlogic:
Waterlogic is a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers. Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor.
2022
Financial advisory to
2022
Adviser to
and its owners on the sale to The North Alliance
Nordhaven advised Finnish digital design, engineering and business consultancy firm Dunning, Kruger & Associates (DK&A) and its owners in the sale to The North Alliance (NoA) backed by Norvestor. DK&A becomes the founding partner of NoA Finland together with Bob the Robot that was also acquired by NoA in a parallel transaction.

DK&A's designers and engineers enable some of the most respected brands to deliver real value to their customers by shipping solutions that actually matter. The company’s clients include Deutsche Bahn, Kesko, Sector Alarm, OP and Wella. DK&A was founded in 2016 and employs 75 people in Helsinki (HQ), Oulu, Wrocław, Poland, and Germany.

NoA is a Scandinavian-born creative-tech player. NoA’s full range of capabilities cover all levels of strategic transformation and helps connect the entire customer journey through business consulting, advertising and communications, digital products and platforms, brand experiences and data-driven marketing. NoA was founded in 2014 and currently employs approx. 1200 people across Denmark, Sweden, Norway, Poland and now Finland. A fund managed by Norvestor invested into NoA in 2018.

With the help of Clairfield’s technology team, buyers were introduced from 12 countries.
Having already seen several similar M&A processes from the past my experience is that they rarely are enjoyable. Against all odds — this process with Nordhaven was. The process went exactly according to the original schedule. We had global reach of over 100 buyer candidates, which we downscaled for 25 best options and met all of them. Iconic global brands having lot of interest on our company. Among the candidates we were able to find the perfect business and culture fit – a buyer we wanted to sell our company to. What can a client say when expectations are exceeded, except “Hell yeah!”? We have nothing but respect for the Nordhaven team. They did their part better than we could even imagine”.
2022
Adviser to
on its EUR 77 million syndicated loan
Nordhaven advised Pölkky Oy on its 5-year EUR 77 million syndicated loan. EUR 18 million was used for refinancing the existing debt and the remaining EUR 59 million facilities amount is available for capital expenditure and working capital. Pölkky is Northern Finland’s largest private wood processing company, with around 420 employees and an annual turnover of approximately EUR 200 million. The company was founded in 1968 and is currently held by the 3rd generation of the Virranniemi family.

This financing enables us to execute our EUR 92 million investment program until 2024, in line with our strategy. We are very satisfied with both the outcome and Nordhaven’s excellent work”, says Petteri Virranniemi, CEO of Pölkky Oy. “Nordhaven’s team managed the whole process from planning to execution in a highly professional manner. I can highly recommend Nordhaven”, adds Tuomas Anttila, CFO of Pölkky Oy.
This financing enables us to execute our EUR 92 million investment program until 2024, in line with our strategy. We are very satisfied with both the outcome and Nordhaven’s excellent work. Nordhaven’s team managed the whole process from planning to execution in a highly professional manner. We can highly recommend Nordhaven.
2022
Adviser to
and its owners on the sale to Restel
Nordhaven advised the owners of Classic Pizza and Hangon Makaronitehdas in the sale to Restel.

Classic Pizza was founded in Hanko the in mid-1990s, whereas Hangon Makaronitehdas was established five years ago. The owners, Juha Toivanen and Merja Rahkola-Toivanen, developed and expanded the unique casual dining concepts to the main cities and ski resorts in Finland and as of today the chains have a total of 23 restaurants. The success of the chains is based on quality, superior ingredients, and service offered by committed employees. In 2019 (pre-COVID) combined revenue of the chains was approximately EUR 15 million.

Restel is a leading restaurant operator in Finland with more than 200 restaurants and approximately EUR 200 million revenue. Restel is owned by Tradeka. Restel’s target is to provide consumers quality experiences, and the acquisition is based on its strategy to grow through acquisitions, with a focus on strong brands.
We thank Nordhaven for a very well managed process. In addition to the excellent financial result, we are happy that the chains got a strong and responsible owner who is committed to the values of the businesses that the owners have developed almost 30 years.
2021
Adviser to
on its EUR 39 million sustainability-linked loan
Nordhaven advised Terra Patris on refinancing its debt portfolio with a syndicated EUR 39 million sustainability-linked loan. The new 3-year loan facilities agreement with two one-year extension options includes the following sustainability targets:

• Share of renewable electricity out of Group’s total electricity consumption
• Group’s personnel’s average annual sick leave days

Terra Patris Oy is a Finnish family-owned company with subsidiaries in the leisure marine industry, construction equipment industry, contract manufacturing, and forestry industry.
Sustainability is increasingly important for our industrial clients and other stakeholders. Linking the loan margin to our sustainability targets gives us further incentives and discipline – we are happy to also have financiers as our sustainability stakeholders. Nordhaven’s advice from the project launch to final execution was highly value-adding, and we are grateful for their thorough support.
2021
Adviser to
in its divestment of its Voice and Contact Centre business units
Techstep Norway AS and Techstep Sweden AB (fully owned subsidiaries of Techstep ASA) have entered into an agreement to divest their Voice & Contact Center business units in Norway to Zisson AS, and in Sweden to Soluno Communications AB, respectively.

The Transaction is structured as an asset purchase with customary closing conditions, including the parties entering into transitional service agreements from the time of closing.

The transaction marks the fourth M&A transaction where Nordhaven has advised Techstep.

About Techstep ASA
Techstep is purpose-built to become a leading Managed Mobility Services provider. Techstep provides a complete Managed Mobility Services-offering that presents enterprises and their employees with access to efficient, secure, and value-creating mobile work solutions – wherever and whenever they choose to work. Customer benefits include reduced IT complexity and costs, improved employee capabilities and engagement, as well as increased productivity and sustainability. Techstep has more than 350 employees based in Norway, Sweden, Denmark and Poland, serving more than 2,000 customers across different industries and sectors.
This is part of the ongoing transformation of the company and a natural step on our journey towards becoming a leading provider of Managed Mobility Services based on our own software. By streamlining our product portfolio, we ensure a sharp focus and greater value for our customers.
2021
Advisor to Kistefos-backed
on the acquisition of Tjenestetorget
1881 Group AS, backed by Kistefos, has signed an agreement to acquire Tjenestetorget AS with affiliates from ABBH AS. Tjenestetorget offers digital pricing comparison services towards customers and generates leads to companies in Norway and Denmark. The transaction strengthens 1881 Group’s position and strategy as the leading provider of directory services via internet. In 2021, Tjenestetorget is estimated to have a turnover of NOK ~110m.

The transaction marks another acquisition where Nordhaven has advised 1881 Group and Kistefos.

About 1881 Group
Norway's leading provider of personal and corporate information (phone numbers, addresses, real estate prices, company financials, etc) – both digital and traditional. Used weekly by more than 1.5-2.0 million Norwegians. Fully owned by the private investment company Kistefos. Revenue 2020 of NOK ~400m and EBITDA of NOK ~95m.

About Tjenestetorget
Tjenestetorget was founded in Norway in 2004 and consists of Tjenestetorget, Anbudstorget, Tjenestetorget Finans and Tjenestetorvet (Denmark). Tjenestetorget delivers leads comparisons on products and services. Since 2004, Tjenestetorget has supported more than 1 million users across Norway and Denmark, collaborating with 500+ suppliers.
“Our most important job is to provide information and help to the Norwegian population and companies. Tjenestetorget with affiliates are strong companies, which fit perfectly with our existing product offering. The interaction will broaden and strengthen our product offering to all our users. We have had strong growth in recent years. Getting 1881 on the team gives us bigger muscles and an incredible number of new opportunities. We are now part of a larger digital and highly innovative environment. We look forward to developing further together.
2021
Financial advisory to
Nordhaven’s Debt & Capital Advisory team provided financial advice to Panostaja.

Panostaja is an investment company developing Finnish SMEs in the role of an active shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja strives to increase shareholder value and create Finnish success stories. Panostaja’s shares are quoted on the Nasdaq Helsinki Stock Exchange. In the 2020 financial year, the Group’s net sales totaled MEUR 159.
2021
Adviser to
and its shareholders on the sale to VENI Energy Group
Nordhaven advised Greene and its shareholders in the sale of the company to VENI Energy Group which is backed by Nordic private equity investor Norvestor. Greene is one of the leading energy sourcing service providers in the Nordics, serving approximately 3,000 Finnish and Swedish SMEs with over 500 GWh of energy annually. In addition, the company provides services related to green energy sourcing and certificates.

Through the transaction, VENI Energy Group became the clear market leader in Finland and the transaction strengthened its strategic position in the Swedish markets. The combined entity has further capacity and capabilities to develop services for Greene’s customers.

VENI Energy Group is a leading Nordic player in energy services and sourcing, securing annually more than 8TWh of electricity for more than 40,000 corporate customers in Finland, Sweden and Norway. In addition to energy sourcing services VENI Energy Group offers protection against energy price volatility, energy invoice audits, energy management and smart metering services to property owners. VENI Energy Group has a sales level of approx. €100 million.
Our business model is complex, and the argumentation of our outlook is not the simplest. Nordhaven played very crucial role in helping the potential buyers to truly understand our business and its potential. In this case this was the largest contributor to the outstanding outcome of the sales process.
2021
Adviser to
and its shareholders in the sale to Monterro
Moment offers a tool for project management, time management, time log, resource planning, quality assurance, and invoicing. It has enjoyed a yearly growth of 50 percent for five consecutive years, and is expected to continue this trend going forward.

“We search for Nordic B2B software companies with potential to become global leaders in their niche, and we’re happy to have found Moment,” says Erik Syrén, partner at Monterro and future Chairman of the board of Moment. “We have a strong belief in the product and the people, and we look forward to working closely to develop the company.”

“Monterro stood out from the rest of the investors”, says Eivind Bøhn, CEO of Moment. “They don’t just offer their capital, but also their expertise. Monterro has extensive knowledge of the software industry — and adds valuable competence. We feel confident in our choice and that our partnership will push us forward and support our growth.”

Moment is well established, with loyal customers in the domestic market and in Iceland as well as in 15 other countries. Its clients include architecture firms, engineers and creative agencies, IT and consultancy businesses, and accounting firms. Moment plans to expand and grow outside Norway.

"Until now, Moment’s good reputation has given us a solid growth in Norway. Our ambition is to be the Nordic leader within a couple of years. We will grow organically or through add-on acquisitions. We’re now establishing a sales organization in Stockholm, and will build an extensive customer base in the Nordics. We’re already seeing the benefits of partnering with Monterro,” says Eivind Bøhn.

Since its founding ten years ago, Moment has focused on building a solution to its customers’ problems. Moment streamlines customers' operations by adding time and focus to core business and delivery items.

Eivind Bøhn continues: “By working closely with our customers, we’ve developed a product that simplifies our customers’ jobs. Our technology integrates with more than 50 systems, allowing users to move seamlessly between them. I’m proud of the good partnership and close co-operation we have with our customers — all of whom appreciate Moment.”

About Moment
Moment develops and offers a market leading software solution that enables users to get control of their projects and resources. Project management, time management, quality assurance, resource planning and invoicing exist in one, easy-to-use system. We let the data flow between the systems of choice and eliminate manual routines. Moment can be integrated with more than 50 systems, and the company works closely together with its customers to get an understanding of their needs and to improve the functionality. Moment’s vision is to be the preferred project management system in the world.

About Monterro
Monterro is a B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders and global players within their niches. The team has successfully developed and led companies such as Pointsec, Episerver, Orc Software, Palette, and Lime – and they bring this operational experience to the Monterro portfolio, supporting the companies in all aspects of growth.
2021
Adviser to
and its shareholders on the sale to Evidensia
Nordhaven advised Omaeläinklinikka, Korona Invest as well as other owners on the sale of the company to Sweden-rooted IVC Evidensia. IVC Evidensia is Europe’s largest veterinary care provider with operations in 12 countries and its main owner are the funds advised by EQT. The combined Finnish entity operates a network of some 50 clinics, hospitals and out-of-hour centers across the country and has a topline of approx. €90 million. Omaeläinklinikka’s strong brand is planned to be utilized also following the transaction.

Prior to the transaction Omaeläinklinikka was one of the very few larger Nordic platforms available for further veterinary industry consolidation. The company has ca. 450 employees who cater annually some 140,000 physical & digital visits for pets and their owners. The company enjoys very high customer satisfaction.
Once again impressive exit process with very good outcome arranged by Nordhaven for us! The investment story was of high quality, the selection of international buyers was perfect and the sales process well-controlled and competition was kept up until the last day. Working with you is always very easy, fun and we value your independent thinking and working. The sellers are extremely satisfied with the financial outcome.
2021
Adviser to
on the acquisition of HCC Embedded
Nordhaven provided financial advice to Tuxera in the acquisition of HCC Embedded in Hungary. Tuxera is the world-leading storage software and networking technology company, and HCC Embedded is the Hungarian developer of embedded file systems, flash management, and network data transfer software.

After the acquisition Tuxera offers the most comprehensive range of software and services for managing data as it is stored, used, and moved in and between embedded systems. The acquisition deepens Tuxera’s commitment to deliver reliable data management solutions in a world increasingly fueled and vitalized by data. HCC Embedded will officially operate as Tuxera Hungary Kft.

Nordhaven also advised Tuxera in the acquisition of Datalight, a North American developer of embedded file systems, in 2019. Tuxera Group revenues were 18 MEUR and EBITDA 5 MEUR in FY 9/2020.
2021
Adviser to Procuritas-backed
on the acquisition of Wisdomic
Nordhaven advised Procuritas and its portfolio company Frendy, the Finnish IT services platform, in Frendy’s first add-on acquisition, three months after the company’s creation through the acquisition of twelve businesses. The acquisition of Wisdomic brings Frendy’s combined turnover to around €50 million with 220 employees.

Wisdomic is a Finnish IT services company employing around 60 people with offices in Kaarina, Vantaa and Seinäjoki and a data centre in Vantaa. Its offering is focused on cyber security services, cloud and data centre solutions, equipment, and user support services, as well as IT infrastructure maintenance and monitoring.

Nordhaven also acted as exclusive financial advisor to Procuritas and Frendy in the creation of the platform with 12 simultaneous acquisitions in June 2021.

Nordhaven advised Procuritas and its portfolio company Frendy, the Finnish IT services platform, in Frendy’s first add-on acquisition, three months after the company’s creation through the acquisition of twelve businesses. The acquisition of Wisdomic brings Frendy’s combined turnover to around €50 million with 220 employees.

Wisdomic is a Finnish IT services company employing around 60 people with offices in Kaarina, Vantaa and Seinäjoki and a data centre in Vantaa. Its offering is focused on cyber security services, cloud and data centre solutions, equipment, and user support services, as well as IT infrastructure maintenance and monitoring.

Nordhaven also acted as exclusive financial advisor to Procuritas and Frendy in the creation of the platform with 12 simultaneous acquisitions in June 2021.
2021
Adviser to
and its shareholders on the sale to Superstruct Entertainment
Nordhaven advised Tuska Festival and its shareholders in the sale of the company to Providence Equity backed Superstruct Entertainment. Tuska Festival is one of the leading urban open air metal festivals in Europe. Through the transaction, Nordhaven strengthens its position as the leading financial advisor in entertainment related M&A in the Nordic region. Nordhaven has provided sell-side advisory to Flow Festival in Finland as well as Øyafestivalen and Palmeus Festival in Norway.

During its 20 years of history Tuska Festival has developed into a strong brand with high international awareness within the metal genre. Through true commitment and differentiated offering to the metal genre fans, Tuska Festival has created a unique, large and loyal fan base both in Finland and abroad – annually the festival has more than 50.000 visits and around 50% of the visitors have visited the festival 4x or more times.

Superstruct Entertainment is the owner of a large portfolio of live music festivals across genres and geographies including Flow Festival and Tuska Festival in Finland. The company is backed by private equity firm Providence Equity Partners, which has $45 billion in assets under management.
Thank you Nordhaven! As a first-time company seller, I am impressed by the high value-add of your work. Irrespective of the massive Covid-19 impacts on our industry you were able to bring in all key industrial buyer candidates to an intelligently tailored and ran process with true competition. Working with you is highly professional and I highly appreciate all the laughs that we had together. We are also very satisfied with the financial outcome.
2021
Adviser to
and its shareholders in the sale to Superstruct Entertainment
Nordhaven advised the owners of the Palmesus Festival in the sale to Superstruct Entertainment

The Palmesus festival – Scandinavia’s biggest beach party – has been acquired by Superstruct Entertainment, a live entertainment consortium. Simultaneously, Nakatomi Enterprises, the owners of Palmesus AS, has reinvested a significant amount into Superstruct Entertainment.

About Palmesus:
Founded as a small ‘friends-of-friends’ party in 2009, Palmesus has grown into the biggest beach festival in Scandinavia – located on the beach right in the city center of Kristiansand in southern Norway, with more than 40,000 guests in 2019. The festival has not been held since 2019 due to COVID-19 restrictions. In 2019 Palmesus, through the festival and other year around events, generated revenues of NOKm ~80 with EBITDA of NOKm ~14. Making Palmesus one of the few festivals in Norway that generates a significant profit. The Palmesus owner, Nakatomi Enterprises, is owned by Leif Fosselie and Lund Gruppen.

About Superstruct Entertainment:
Superstruct is a private equity backed group that owns several festivals and live entertainment events, mainly in Europe. Superstruct’s Nordic music festival portfolio includes the Oslo based Øya-festivalen, Helsinki based Flow-festival and Northside and Tinderbox being held in Denmark (Aarhus and Odense, respectively). Superstruct is backed by the leading private equity firm Providence Equity.
By becoming a part of the Superstruct consortium, Palmesus will benefit from strengthened solidity, which both the festival and the festival guests will benefit from in years to come. We are simply moving from owning a big share of something a little smaller, to owning a smaller share of something very big.
2021
Adviser to
in the simultaneous acquisition of 12 IT services businesses forming a platform launched as FRENDY
Nordhaven advised Procuritas and its portfolio company Frendy, the Finnish IT services platform, in Frendy’s first add-on acquisition, three months after the company’s creation through the acquisition of twelve businesses. The acquisition of Wisdomic brings Frendy’s combined turnover to around €50 million with 220 employees.

Wisdomic is a Finnish IT services company employing around 60 people with offices in Kaarina, Vantaa and Seinäjoki and a data centre in Vantaa. Its offering is focused on cyber security services, cloud and data centre solutions, equipment, and user support services, as well as IT infrastructure maintenance and monitoring.

Nordhaven also acted as exclusive financial advisor to Procuritas and Frendy in the creation of the platform with 12 simultaneous acquisitions in June 2021.
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