At PCA and Steinvender we are now

Nordhaven

We are an independent Nordic Corporate Finance advisor with over 20 years of on-the-ground presence and advisory experience in each of our markets.

When you have complex strategic decisions to make -

we give you valuable advice. 

 

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In numbers

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Professionals at your service
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Years of combined experience
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Transactions advised
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Equity-based incentives designed
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International partner offices

What we do

When it’s time for your company to grow, change, and when there are tough decisions to make, we will help you. 
Our services cover all the phases of your business cycle and business development. 
With us, you’ll never walk alone.

Transactions

2020
Adviser to
in the acquisition of KeyNet AS
IT management supplier Bitpro strengthens their position within data communication through the acquisition of KeyNet. KeyNet has a strong position within the private sector with several blue-chip clients and holds the ability to serve complex client structures with high geographical dispersion. A position they have built up over multiple years through deep technology know how.

“Best in class customer success and the ability to serve clients with multiple locations is a cornerstone in our strategy, both of which lies in the center of the business model for KeyNet. Hence the match between the two companies is very good and the transaction represents an important step in our strategic development. We are looking forward to continue building the product portfolio and strengthening our customer base together” – Trond Bjorvand (CEO Bitpro).

“Bitpro provides a broad specter of IT and communication services with multiple similarities to our business model and philosophy within the data communication niche. We see multiple commercial and operational synergies and are looking forward to utilizing them together. We will continue providing our clients with best-in-class customer care, in addition to new products enabled by the merger.”

“We see a very good match between KeyNet and Bitpro. KeyNet holds the same business goals as us and have over a longer period of time show the ability to establish, build and maintain strong customer relationship to blue chip clients. We look forward to further build and expand the new company with the client in the front seat.” – Gunnar Jacobsen (Investment Director Kistefos).

Combined revenue in 2020 for the two entities will amount to approximately MNOK 290 with good profitability. The sellers will reinvest large parts of their proceeds and will post merger hold a 13,4% position in the new company. Kistefos remains the majority shareholder with 73,5%, while the remaining 13,1% is owned by other key employees.
2020
Adviser to
in the acquisition of DIAS
Nordhaven advised Alma Media in the acquisition of 75% shareholding in digital housing transaction service DIAS Oy.

Founded in 2018, DIAS is a digital housing trading platform for the residential real estate market connecting buyers, sellers, real estate agents and banks. DIAS is one of the first distributed ledger technology (DLT) services to be completed in Finland. In 2020, the company’s turnover will amount to approximately EUR 2 million.

The purchase price is EUR 14.3 million (75.5% of the Enterprise Value). The parties have also agreed on a potential earn-out linked to the future development of DIAS’s business operations and profitability. Alma Talent acquired the shares from Tomorrow Tech, the co-founder and current majority shareholder of DIAS as well as the founding banks OP, Danske Bank A/S, Aktia Bank Abp and S-Pankki Oyj. After the transaction Alma Talent owns 80.5 per cent and the aforementioned banks retain 19.5 per cent of the company’s share capital.
2020
Adviser to
in the sale to Röko
Röko has acquired Ekstralys AS, an e-commerce retailer based in Lindesnes, Norway.

Ekstralys is a leading e-commerce company in Norway within vehicle lighting and the company has during the last two years expanded to Sweden, Denmark and Finland. Ekstralys’s scalable setup and tech-oriented operation have allowed for profitable, +35%, annual growth.

Ekstralys was founded in 2004 and has been managed by the founder who will continue as Managing Director.

About Röko
Röko is a Swedish based investment firm with 270 MEUR in committed capital. With ambition to be a true long-term owner of European small- and medium sized business. Röko has local presence in Sweden, Norway, and Germany.
2020
Adviser to
in the acquisition of Geomatikk
Nordhaven Corporate Finance acted as financial adviser to Hg in the acquisition of Geomatikk.

Geomatikk is a tech-enabled services champion, managing critical ‘check-before-you-dig’ safety assessments to network owners, contractors and consulting engineers within Norway, Sweden and Finland.

Hg will support Geomatikk with its extensive experience in scaling tech champions across Europe. Hg will become the majority investor, with founders and management remaining as significant investors in the business. The full terms of the transaction are not disclosed and closing is subject to obtaining relevant regulatory approvals.

About Geomatikk Group

The Geomatikk Group is a leading tech-enabled services provider delivering solutions and services to manage safe excavations, before-you-dig-requests, Utility works and Street works. The group operates in Norway, Sweden and Finland, and is establishing itself in the UK. Geomatikk is protecting the infrastructure for more than 300 network owners, handling 2 million transactions and more than 250 thousand physical field detections annually. Network owners, municipalities, contractors, civil works designers and other stakeholders collaborate and interact on the Geomatikk digital platform to optimize their construction projects and minimize asset strikes.

About Hg

Hg is a leading European investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 30 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 30 software and technology businesses, comprising over 35,000 employees across the UK, US and Europe.
2020
Adviser to
and its owners on the sale to Mehiläinen
Nordhaven advised psychotherapy clinic chain Komppi and its owners on the sale of the company to Mehiläinen. Mehiläinen is a strongly internationalizing private health and social care company with over €1bn in revenues and it is backed by CVC Capital Partners.

The estimated cost of mental health problems in Finland exceeds €11bn annually. Komppi is the market leading psychotherapy clinic chain and it is well-known for providing high quality care resulting in substantial benefits for individuals, employers, and the society. Since its foundation in 2016, the Company has grown to have some 250 professionals who operate through 21 clinics in Finland as well as remotely. The management of Komppi has been focusing on growth and has created a smart hybrid platform of physical and digital services to support significant further growth.

Following the transaction, Komppi has a unique ability to improve the access to mental health related services. In addition to its significant private healthcare position with over 1.3 million customers annually, Mehiläinen has also very strong and growing positioning in occupational healthcare markets as well as globally notable platform for digital services.
Well done Nordhaven! With some previous M&A experience myself, I am impressed by the work of the Nordhaven team. Your service level was high throughout the project, you were able to bring in domestic, regional, and international buyers with different types of strategic angles to acquire Komppi and it was always easy-going to work with you. We are also highly satisfied with the financial outcome. Highly recommended!” says Mark Roth, CEO of Komppi.
2020
Adviser to
on the design of equity-based incentive plans
We advised Fiskars on designing a Performance Share Plan for the top management and key employees and a Restricted Share Plan as a complementary structure for specific situations. Fiskars was formerly best known for its orange-handled scissors, created in 1967. Today its products are related to the home, outdoor activities, interior decoration and table setting. Its key brands include Fiskars, Iittala, Royal Copenhagen, Wedgwood and Waterford.
2020
Adviser to
on the design of equity-based incentive plans
We advised Terveystalo on designing a Performance Share Plan for the top management and key employees, a Bridge Plan for the CEO and a Restricted Share Plan as a complementary structure for specific situations. Terveystalo is the largest healthcare service company in Finland.
2020
Adviser to
on senior debt financing
Fixcel Group Oy is a manufacturer of movable steel-based modular buildings with globally patented module technology. Fixcel’s commercial operations were launched in 2018 and the company recorded net sales of EUR 33 million for financial year ended 31.3.2020. One of the benefits of Fixcel’s technology is healthy indoor air and its solutions are often used in schools, hospitals, elderly care and office buildings.

Nordhaven advised Fixcel on raising a new EUR 7 million senior debt funding package. Proceeds will be used for refinancing existing facilities and for implementation of rapid growth strategy, including capital expenditures for production capacity increase. The funding package also includes a flexible working capital facility for client project-related construction periods. New debt facilities were provided by two financiers under inter-creditor agreement.
We wanted to have a larger and more flexible funding package to support our continuing growth – without ownership dilution. The achieved funding solution with adequate liquidity reserves secures our growth strategy. We are very satisfied with Nordhaven’s thorough support and excellent process management from planning to signing. Highly recommended!” Says Anders Gylling, CEO of Fixcel Group Oy.

News

International Network

At Nordhaven, we have been the exclusive Nordic partner of Clairfield International since 2012, and we have partners in over 20 countries.

Clairfield network
  • Helsinki
  • Eteläranta 12
  • +35 8 207 613 910
  • Oslo
  • Hieronymus Heyerdahls gate 1
  • +49 901 38 832
 
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