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
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.
2020
Adviser to
on renegotiating EUR 80 million senior debt portfolio
Nordhaven advised Versowood to create a stronger financial position through renegotiating its EUR 80 million senior debt portfolio. Versowood is the largest family-owned forestry company in Finland with around 800 employees and annual turnover of approximately EUR 400 million. Versowood operates with business areas in Sawn timber, Glulam products, Wood packaging, Infra, and Energy.
Coronavirus and recent strikes in the forest industry sector had significant impact on the overall market conditions. We wanted to be far-sighted and reach a funding solution that bolsters our on-going operations. We are pleased with the negotiation outcome that was achieved with Nordhaven’s extensive support throughout the process.” Says Ville Kopra, CEO of Versowood Group Oy.
2020
Adviser to
and its owners on the sale to Kovinoplastika Lož
Nordhaven acted as financial advisor to the owner-family of Stala in a strategic European consolidation transaction. In the arrangement Stala was 100% sold to Slovenian Kovinoplastika Lož Group (“Kovinoplastika”). With the acquisition, Kovinoplastika strengthens its strategic goal to be among the three largest kitchen countertops and sinks manufacturers in Europe. Kovinoplastika’s products are sold in more than 50 countries and following the transaction Stala-branded products will be available in a wider geographical market.

Stala, founded in 1972, has a net sales level exceeding €11 million and strong profitability. The company employs close to 50 people. Stala’s key product groups are sinks and countertops for home kitchens, various waste sorting products as well as mailboxes.

Kovinoplastika was founded in 1954 and it has operations in 7 European countries and approx. 700 employees. The company operates in 3 markets: Window and door mechanisms (Fittings); Industrial molds (Toolshop) and Kitchen sinks, cookware and similar utensils (Inox). Kovinoplastika's net sales exceed 60 million euros and it is owned by the funds managed by private equity investor KJK Management.
For me and other family members it is very important that with the help of Nordhaven we could find a new owner who is committed to develop Stala’s operations in Lahti and support STALA brand grow further internationally” says Tuija Rajamäki.
2020
Adviser to
and its owners on the sale to Folmer
Nordhaven acted as financial advisor to the owners of Donier Gastronomie in its sale to Finnish private equity fund managed by Folmer. The founder of the company, Alexandre Donier, will continue as the Managing Director and shareholder in the company with the aim of building, together with the staff, Finland’s leading food wholesaler with a comprehensive offering. The company’s other shareholders shall remain as minority shareholders.

Since 2003, Donier Gastronomie has supplied high-quality ingredients from selected European producers to quality conscious restaurant and retail clients in large Finnish cities. The company is specialized in import and wholesale of dairy and poultry products. In addition, it provides a wide range of dry goods, meats and processed meat products as well as seafood. Donier Gastronomie offers its customers a transparent and traceable product chain as well as a responsible service concept with extremely high service orientation. The company has premises in Helsinki, Tampere and Turku and it has a current sales level exceeding €10 million.
For me as an entrepreneur it was utmost important that I could partner with such an experienced financial advisor like Nordhaven in finding and negotiating good deal for us, while I could focus on the business and clients” says Alexandre Donier, the founder and Managing Director of Donier Gastronomie.
2020
Adviser to
in the acquisition of 100% of the shares in Optidev AB
The total purchase price is SEK 200 million on a cash and debt free basis, payable through a combination of cash, equity and seller’s credit.

Optidev is a fast growing and profitable company which is expected to generate SEK 205 million in revenues in 2020 with a gross profit of SEK 113 million and EBITDA of SEK 36 million. Additionally, Optidev has an annual recurring revenue (ARR) from own developed software of SEK 22 million as of 30 June 2020, increasing Techstep's ARR by 60% to NOK ~60 million.

The combined company will be a leading IP and software-focused provider of deskless technology which help companies transform their capabilities by making work mobile, with strong established positions in Norway and Sweden, and a growing presence in Denmark. The acquisition is in line with Techstep’s communicated Nordic growth strategy.

About Techstep
Techstep is purpose-built to become a leading Managed Mobility Services provider in the Nordics. Techstep supplies hardware, software, connectivity and mobile device management bundled as a managed service. This enables enterprises and their employees to do their work across mobile devices and locations, with a high degree of security and operational stability. Techstep has 210 employees based in Norway and Sweden, serving close to 4,000 customers and 210,000 recurring revenue end-users across various industries in the private and public sectors. The company is listed on the Oslo Stock Exchange.

About Optidev
Optidev is a leading Nordic supplier of turnkey mobility solutions with focus on transportation and logistics and public safety sectors. The solutions include both software and hardware, enabling mobile access to mission critical information with automated data capture and traceability in real time. Optidev has 85 employees working from its offices in Sweden, Norway and Denmark. The company was founded in 2000.
2020
Adviser to Abry-backed
on the acquisition of SKJ Systems
Nordhaven continued to act as financial advisor to Swedish Confirma Software in its latest acquisition in Finland i.e. the acquisition of SKJ Systems, a Finnish provider of Point-of-Sales (POS) systems under Jeemly and Flowvy brands. Simultaneously Capillar Adivisory, our Swedish partner firm in Clairfield International, advised Confirma to acquire DataVara, a provider of payroll systems for the Swedish SME segment.

Confirma Software was founded in 2019 by Abry Partners, US-based private equity fund with deep sector knowledge in business and information services. Since their founding in 1989, Abry has completed over 550 transactions and currently manages over $5.0 billion capital across their active funds.

Confirma Software has strategy to consolidate enterprise software companies with specialized offerings for SME customers throughout the Nordic countries. Nordhaven and Clairfield have been advising Confirma Software since its first acquisition and have now completed six transactions jointly.
Advisory work by the Nordhaven and Capillar teams was of the highest quality and enabled us to complete the transactions efficiently and expectedly. Their contacts and knowledge of the Nordic software sector has been instrumental for us in realizing the growth strategy” says Jarle Mørk, CEO of Confirma Software.
2020
Nordhaven advised
on the acquisition of NCC Road Services Sweden and Finland
Nordhaven advised Frankfurt listed Mutares in the acquisition of NCC Road Services Business in Sweden and Finland from NASDAQ Stockholm listed NCC. The acquired business is among the market leaders in both geographies. It offers comprehensive solutions within road operations and maintenance. Services include e.g. snow handling, road supervision, road maintenance, traffic signs, wildlife fences and road markings.

Mutares looks forward to supporting the initiatives already taken by the management and to develop the business even further as a stand-alone operation. The management has identified several opportunities and growth avenues that can be taken on together as a result of this transaction. Mutares is convinced that the cooperation with the motivated management will lead to further strengthening of the already strong market position in the Nordic markets.

NCC Road Services Business in Sweden and Finland is a part of the Infrastructure Business Area. NCC is one of the leading companies in the Nordics within construction, infrastructure and property development, with sales of about SEK 57 billion and 15,500 employees in 2019. The NCC share is listed on NASDAQ Stockholm.

Mutares SE & Co. KGaA is a holding company that acquires (parts of) companies that have a turnover of around EUR 50 to 500 million. It actively supports and develops its portfolio companies with its own investment and expert teams and through strategic add-on acquisitions.

Niklas Lönnberg, Associate Partner at Nordhaven, says: “The transaction is yet another example of a deal in our Nordic home markets. We do our utmost for our clients every time and are happy when we can contribute to the success of our clients.”

The transaction is expected to be completed during Q3/2020.

“The deal execution capability of Nordhaven in an international M&A transaction is impressive. They had the finger on the pulse throughout the whole process, and due to the activity and process coordination expertise of Nordhaven, timely decision making was possible. Not of course forgetting about the strategic advice that they gave to enable this important transaction. We are very pleased with the outcome”, says Jesse Petäjä, Manager at Mutares Nordics

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