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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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

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 generate 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.

“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” says CEO of 1881 Group, Asgeir Ohr.

“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” says CEO Anders Wetting of Tjenestetorget.

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. Weekly used 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.
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”, says Matti Koskelo, Chairman and one of the owners of Greene.
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.” says Pasi Lehtinen, managing partner at Korona Invest.
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.
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” says festival director Eeka Mäkynen.
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.

“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.”
- Leif Fosselie, founder and CEO of Palmesus

About Palmesus:
Founded as a small friends of friends party in 2009, Palmesus has grown to 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.
2021
Adviser to
in the simultaneous acquisition of 12 IT services businesses forming a platform launched as FRENDY
Nordhaven advised Procuritas in the simultaneous acquisitions of twelve IT services businesses across Finland. The newly created platform, Frendy, is majority owned by Procuritas while local entrepreneurs retain significant minority ownership in the structure and responsibility over their respective operations. Frendy will deliver IT services for SME companies in Finland, a target market of more than €1 billion per annum. At inception, the company will have 160 employees in 16 locations across Finland and will be headquartered in Helsinki, with revenues in excess of €33 million.
Nordhaven has been a reliable hands-on partner throughout the complex transaction process leading to creation of Frendy, starting from a thematic sourcing project we did together with the team back in 2020, through relationship building with a large group of entrepreneurs, and finally a transaction phase that successfully led to the acquisition of no less than 12 companies simultaneously. We at Procuritas are truly pleased with the support and seamless co-operation we’ve had with the Nordhaven team” says Jussi Holopainen, Investment Manager at Procuritas.

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