Nordic buys Euroline from SEB for €243m

Nordic Capital will invest via its Fund VIII vehicle, which closed on its €3.5bn hard-cap in December last year.

The acquisition is subject to approval by the relevant authorities and expected to close in Q4 this year.

Euroline was hitherto a subsidiary of Swedish bank SEB. The bank stated it expects to book a capital gain of SEK 1.9bn following the sale. SEB also has an option to take a stake of up to 25% in the business following its spinout, which it can exercise prior to the transaction's closing.

Company
Euroline provides card acquiring solutions across the Nordic region, with a particular focus on e-commerce and Nordic retail. Its portfolio of services includes simplification of payment processes, multi-currency support and risk management support.

Euroline is based in Stockholm and handled payment volumes totalling SEK 100bn in 2013. It employs 50 staff.

People
Fredrik Näslund worked on the deal for Nordic Capital. Johan Ryer is the CEO of Euroline.

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• Topics
• Nordics
• Buyouts
• Financials
• Nordic Capital
• SEB
• Sweden