Nordic Capital reaps around 6x money in Macrobond SBO

Ero Partsakoulaki
10 July 2023

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Nordic Capital is selling Macrobond, a Swedish provider of research systems alongside macroeconomic and financial time-series data, to US-based tech sponsor Francisco Partners.

The GP will reap around 6x money from the sale, a source familiar with the matter told Unquote. Completion of the transaction is expected in Q3, according to a press release.

Unquote sister publication Mergermarket reported last week that the GP was expected to collect non-binding offers in an Arma Partners-run sale process.

The company was being marketed off EBITDA of around EUR 30m, as reported.

Since its initial investment in 2018, through its ninth fund, Nordic Capital has invested in the company's technology platform and product expansion, according to the press release. The company has more than tripled its ACV (annual contract value) overt that time and trends at 34% LTM ACV growth, it said.

Nordic Capital Fund IX held a final close on EUR 4.3bn in May 2018. The firm typically invests in medium-sized companies with an enterprise value between SEK 1bn-SEK 3bn; Macrobond was the fifth investment from the vehicle, according to Unquote Data.

Most recently, Nordic Capital held a final close for its eleventh fund XI on EUR 9bn in October 2022, Unquote reported. The fund is nearly 50% larger than its predecessor, which is fully deployed.

Francisco Partners, which is set to support the company's future growth, according to the press release, held a final close on nearly USD 17bn for its latest flagship fund Fransisco Partners VII and Francisco Partners Agility III in July 2022.

Nordic Capital declined to comment.

Company
Founded in 2008 in Malmö, Sweden, Macrobond is a provider of global economic, aggregate financial and sector time-series data for professionals including economists, analysts, quants, strategists, portfolio managers, and asset allocators. Its SaaS solution delivers macroeconomic data from more than 2,500 sources, supported by integrated analytical tools. The company has offices in Europe, North America and Asia.

People
Nordic Capital Advisors − Emil Anderson (partner).
Macrobond − Tomas Liljeborg (CEO).
Francisco Partners − Mario Razzini, Ashley Evans (partners), Quentin Lathuille (principal).

Advisers
Vendor & Company − Arma Partners (corporate finance); PwC (tax and financial advisor); White & Case (legal).