Nordic Capital
 | |
| Company type | Private |
|---|---|
| Industry | Private Equity |
| Founded | 1989 |
| Products | Private equity funds, Buyouts |
| AUM | $35 billion (2024) |
| Website | nordiccapital |
Nordic Capital is a leading global private equity firm focused on leveraged buyouts of established companies in Northern Europe and North America.
Founded in 1989, the firm manages $35 billion of capital, with offices in New York, London, Stockholm, Frankfurt, Copenhagen, Helsinki, and Oslo.
Nordic Capital targets investments in large and medium-size companies across 4 core industries: Technology & Payments, Healthcare, Financial Services, and Services & Industrial Technology. [1]
Nordic Capital is one of the 25 largest private equity firms worldwide according to Private Equity International's PEI 300 ranking, with over $30 billion of capital raised within a 5-year period. [2]
Since inception, Nordic Capital's portfolio companies have an average annual EBITDA growth rate of 12% under the firm's ownership. Nordic Capital has made 93 exits as of 2024.[3]
In October 2022, Nordic Capital announced the successful closing of its 11th large-cap buyout fund at its hard cap of EUR 9 billion (USD $10 billion), exceeding its €8 billion target. The fund is over 45% larger than its predecessor large-cap fund (Nordic Capital Fund X), which raised €6.1 billion in 2020. [4] The fund closed in only nine months amidst some of the most challenging fundraising conditions in private equity history, and was the largest Europe-based private equity fund raised that year. [5]
Recent Activity
[edit]In November 2024, Nordic Capital acquired US-based IP management software company Anaqua for approximately $3 billion. The acquisition is expected to close by the first quarter of 2025, subject to approval from the relevant regulatory and antitrust authorities. [6] In the same month, Nordic Capital acquired a controlling stake in Max Matthiessen for over $1 billion.[7]
In October 2024, Nordic Capital was reportedly exploring a potential sale or IPO of fintech company Trustly that could value the portfolio company at over $10 billion.[8] Nordic Capital acquired Trustly in 2018 at a $800 million valuation.[9] In 2024, it was reported that Trustly is on track towards processing $100 billion in Total Payments Value for the year, representing a 33% year-over-year growth.[10]
In August 2024, Hargreaves Lansdown (LON: HL) agreed to be taken private for $7 billion by Nordic Capital and CVC Capital Partners. [11] In the same month, Nordic Capital was said to be exploring a potential IPO of financial services company NOBA that could value the company at over $4 billion. [12]
In April 2024, Nordic Capital invested in One Inc, an US-based digital payments platform. [13]
In February 2024, Nordic Capital acquired US-based financial software company ActiveViam. [14]
In January 2024, Nordic Capital acquired Surgical Information Systems, an US-based healthcare software company. [15]
In December 2023, Nordic Capital acquired IntegriChain, an US-based healthcare technology company. [16]
In July 2023, Nordic Capital sold software company Macrobond to Francisco Partners, yielding over 6x multiple of invested capital after first backing Macrobond in 2018.[17] During Nordic Capital's ownership, Macrobond saw its annual contract value (ACV) more than triple, resulting in a remarkable 34% year-on-year growth. In March 2024, Nordic Capital was honored with the Exit of the Year Award at the Private Equity International Awards for the sale of Macrobond.[18]
In January 2023, Nordic Capital completed the sale of The Binding Site to Thermo Fisher Scientific for $2.8 billion.[19] This exit represented a 19x net multiple of invested capital for Nordic Capital.[20]
In October 2022, Nordic Capital invested in medical device company Equashield through a deal valued at over $1.3 billion.[21]
In November 2021, Nordic Capital completed the take-private of US-based healthcare software company Inovalon (NASDAQ: INOV) for $7.3 billion.[22] In accordance with the terms of the agreement, Inovalon stockholders received $41.00 in cash for each share of Inovalon Class A Common Stock and Class B Common Stock.[23]
Investment Funds
[edit]- October 2022 – Nordic Capital XI (€9 billion)[24]
- October 2020 – Nordic Capital X (€6.1 billion)[25]
- May 2018 – Nordic Capital IX (€4.3 billion)[26]
- December 2013 – Nordic Capital VIII (€3.5 billion)[27]
Select Exited Investments
[edit]- Bambora, payment solution and services. Built on a platform acquired in 2014, and divested 2017 through a sale to Ingenico.
- Capio, healthcare services, acquired in 2006, listed in 2015, final holding divested in 2017.
- Thule, leisure outdoor industry. Acquired in 2007, listed in 2014, final holding divested in 2016.
- Permobil, powered wheelchair manufacturer. Acquired in 2006 and divested in 2013 to Investor.
- Nycomed, pharmaceuticals producer. Owned between 1999 and 2002. Acquired again in 2005 and sold in 2011 to Takeda in the biggest private equity sale in Europe to date.[28]
- Mölnlycke Health Care, surgical products manufacturer. Acquired in 1997 and divested in 2005 to Investor.
- Fritidsresor, tour operator. Acquired in 1995 and divested in 1998 through a sale to Thomson Travel Group.
- Anticimex, pest control services. Owned between 1992 and 1995 and acquired again in 2001. Divested in 2006.
- Itiviti, Financial Technology and Services, formed in 2016 by the union of Orc Group and CameronTec and merged with Ullink in 2017. Acquired in 2012 (Orc Group) and 2018 (Itiviti).
References
[edit]- ^ "Nordic Capital: Our Approach".
- ^ "PEI300".
- ^ "Nordic Capital: About Us".
- ^ "Nordic Capital completes one of the largest fundraises in Europe this year, closing Nordic Capital Fund XI at EUR 9 billion hard cap".
- ^ "Nordic Capital Raises Europe's Largest Fund This Year".
- ^ "Nordic Capital Confirms Talks to Buy IP Software Firm Anaqua for $3 billion". Bloomberg.com. 2024-11-18. Retrieved 2024-12-12.
- ^ "Nordic Capital to acquire Max Matthiessen".
- ^ "Nordic Capital Explores Options for $10 Billion Payment Firm Trustly".
- ^ "Nordic Capital Explores Options for $10 Billion Payment Firm Trustly".
- ^ "Trustly to Process $100 Billion Annually, Leading the Pay by Bank Surge".
- ^ "Nordic Capital and CVC Capital Partners takes Hargreaves Lansdown private for $7 billion".
- ^ "Nordic Capital Is Said to Weigh IPO of NOBA".
- ^ "Nordic Capital to invest in leading digital payments network One Inc".
- ^ "Nordic Capital Acquires US-based Data Analytics Company ActiveViam".
- ^ "Nordic Capital Acquires Surgical Information Systems".
- ^ "Nordic Capital acquires IntegriChain, the only fully integrated platform for pharma commercialization and market access".
- ^ "Buyout group Francisco Partners to acquire Macrobond from Nordic Capital".
- ^ "Nordic Capital Wins Exit of the Year for Macrobond at the Private Equity International Awards 2023".
- ^ "Thermo Fisher Scientific Completes Acquisition of The Binding Site Group from Nordic Capital for $2.8 Billion".
- ^ "Nordic Capital Nets 19x Return on The Binding Site Exit".
- ^ "Equashield sells stake to Nordic Capital at $1.3 billion valuation".
- ^ "Inovalon to be Taken Private by Nordic Capital in $7.3 Billion Deal".
- ^ "Inovalon to be Taken Private by Nordic Capital in $7.3 Billion Deal".
- ^ "Nordic Capital Funds".
- ^ "Nordic Capital Funds".
- ^ "Nordic Capital Funds".
- ^ "Nordic Capital Funds".
- ^ "Deal of the 20 Years » Financial News' 20th Anniversary Awards for Excellence in European Finance - Financial News' 20th Anniversary Awards for Excellence in European Finance". fn20.efnevents.com. Retrieved 2018-11-09.