Priveq acquires majority stake in language services company Plint

The company's management, led by principal owners and founders Per Nauclér and Mikael Fröling, CEO Örjan Serner and studio manager Johan Gladh, will retain 45% ownership. Fröling has decided to gradually hand over his duties in the company.

According to the company, its revenues grew from SEK 11m to SEK 236m between 2015 and 2019.  According to languages industry website Slator, the company's EBITDA was $2.1m in 2019.

Formerly known as Nordisk Undertext, Plint counts Netflix as its biggest customer, and has also worked with Amazon, Viacom, Volvo, IKEA and H&M. 

Plint CEO Örjan Serner said in a statement that the company started searching for a new owner last year and found around 30 interested parties.

The GP has been investing from its SEK 2.3bn Priveq V fund, which invests in Swedish and Nordic companies with revenues of SEK 100m-1bn, across all verticals. 

Company
Founded in 2002 and headquartered in Gothenburg, Plint is a media technology company that provides local language adaptation services. Its clients include Netflix, Ikea, Volvo, Viacom and H&M. It has around 40 permanent employees and works with 1,000 freelance translators. The company generated sales of SEK 236m and an operating profit of SEK 21m in 2019. It also has offices in Borås, Sweden and Los Angeles.

People
Priveq Investment – Louisse Nilsson (CEO).
Plint – Per Nauclér, Mikael Fröling (founders); Örjan Serner (CEO); Johan Gladh (studio manager).

Advisers
Company – Censor (M&A); MAQS (legal).
Equity – ADL (commercial due diligence); KPMG (financial due diligence); Omegapoint (technical due diligence);  Törngren Magnell (legal).

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