Riverside Company’s Mintra bolts on OCS HR

The deal was financed through a mix of shareholder equity and bank debt provided by Nordea, said Riverside partner Thomas Blomqvist.

Mintra's add-on acquisition comes just over a year after it was acquired by Riverside in December 2014 and is the first for Mintra.

The bolt-on is expected to help international expansion for Mintra, as well as provide the company's e-learning and training platforms with a route into the global maritime industry.

Riverside head of European origination Lars Eriksson sourced the deal for the GP, while a financing package was provided by Nordea.

Company
OCS HR is a developer of software related to HR, crew scheduling and payroll, focused on the maritime and oil and gas industries.

The company was founded in Bergen in 1983 and had revenues of NOK 45.2m in 2014.

People
The Riverside Company – Thomas Blomqvist (partner); Jeroen Lenssen, Martin Gustavsson (vice-presidents); Jonathan Roos (senior associate); Ali Al Alaf (research analyst); Lars Eriksson (head of European origination).
Mintra – Scott Kerr (CEO).

Advisers
Equity – Ba-HR (Legal); EY (Financial due diligence, tax); Arkwright (Commercial due diligence); Nordea (Debt).

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• Topics
• Technology
• Nordics
• Expansion
• Build-up
• Riverside
• Norway