Nordic forms Bilthouse through mortgage broker acquisitions

Rachel Lewis
06 April 2022

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Nordic Capital will be the majority shareholder in a new German mortgage broker Bilthouse following the merger of three smaller assets.

The GP has bought Baufi24 Baufinanzierung, which was VC-backed by BTOV and Helvetica, as well as Hüttig & Rompf and Creditweb GmbH to merge under the Bilthouse umbrella.

Nordic is making the investment under its tenth fund, Nordic Capital X, which closed in October 2020 at EUR 6.1bn exceeding its target of EUR 5bn.

The sponsor has already filed for its XI fund as X inches closer to full deployment.

Together, the three mortgage broker brands employ around 700 people and generate a combined mortgage financing volume of around EUR 5bn a year.

The GP will also inject EUR 30m into the new holdco to help Bilthouse integrate and grow its online and offline capabilities.

Nordic said that the three companies will retain individual branding as each serve different product segments.

The CEO of Baufi24, Tomas Peeters, will lead the new group.

Nordic already owns six portfolio assets in the financial services sector but this is its first in the DACH region.

Other investments include Swedish online comparison platform Sambla, which it merged with Advisa on acquisition, as well as payments services provider Trustly, which last year postponed an IPO, as reported.