Nordic PE investment fell in Q3

The low investment levels were down to a lack of large buyouts. Q1 saw CVC Capital Partners' reported €1.8bn investment in Ahlsell, while in Q2, both the Bravida and Anticimex investments were valued above €300m. In Q3 deal sizes were significantly smaller, with only a handful of deals worth more than €100m. The amount invested in Q3 still remained well above 2009 levels, which is the lowest period on record so far.

The two largest investments were made by Norwegian buyout fund Herkules Capital and IK Investment Partners. Herkules bought 90% of Espresso House, a Swedish coffee house chain, for a reported €100m. Espresso House was previously an investee business of UK-based Palamon Capital Partners. IK Investment Partners bought Actic Group, a Nordic fitness chain, from FSN Capital Partners for approximately €100m.

Private equity funds invested in 34 companies in total in Q3, which is a decline of over 50% compared to the previous quarter. It is the first time the number of investment transactions fell in 2012. Investment transactions were the second lowest on record since 2008. Exits were valued at an estimated €700m, a halving of exit activity compared to Q2.

Argentum Quarterly Nordic Private Equity Report Q3 2012

 

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• Topics
• Nordics
• Performance
• Sweden
• Norway
• Denmark
• Argentum
• Finland
• CVC Capital Partners
• Herkules Capital
• Palamon Capital Partners
• IK Investment Partners
• FSN Capital