Nordic Capital buys four consumer financing firms

The companies have been spun out from their parent Resurs Holding and regrouped into a newco, in which Nordic Capital has taken a 55% stake. Equity was invested from Nordic Capital Fund VII, which closed at €4.3bn in 2008.

The founding Paulson family are vendors in the transaction, alongside the Westin and Schröder families, owners of Swedish electrical retail chain OnOff, which went bankrupt last year. The Bengtsson family, founding owner of Swedish electrical retail chain Siba, will retain its 45% shareholding in the newco.

Debt
The transaction was all-equity.

Company
Resurs Holding, founded in 1977 as Resurs Radio & TV, operates the subsidiaries Resurs Bank, Solid Försäkringar, Teleresurs, Reda Inkasso and Order Nordic, the latter of which was not part of the transaction.

Resurs Bank provides retail banking as well as financing to the retail sector. Solid Försäkringar offers insurance solutions, specialising in the retail sector. Reda Inkasso provides debt collection services, while Teleresurs operates contact centre services, such as customer support and order reception.

Based in Helsingborg, Sweden, the companies employ 400 staff and generated a pro forma turnover of SEK 2bn in 2011.

People
Partner Kristoffer Melinder, principal Christian Frick and investment managers David Samuelson and Christopher Ekdahl worked on the deal for Nordic Capital.

Advisers
Equity – SEB Enskilda Corporate Finance (Corporate finance); Cederquist (M&A, Legal); PricewaterhouseCoopers (Financial due diligence, tax); White & Case (Competition filing); Arkwright (Commercial due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Financials
• Buyouts
• Nordic Capital
• Sweden