Advent, ATP and Bain to acquire Nets

The existing shareholders, a group of 186 Danish and Norwegian banks including DNB, Nordea and Danske Bank, will receive DKK 92.37 per share. They will also receive a dividend for 2013 amounting to DKK 498m, which corresponds to DKK 2.70 per share. The Danish central bank was also a shareholder in Nets.

The sale process was initiated following a review of strategic options by Net's board of directors last year. The deal is expected to complete in Q2 2014.

The new owners aim to expand Nets in the northern European markets. The consortium also anticipates a future listing of Nets in due course.

Advent and Bain have previously completed more than 20 investments relating to the payment services sector in several geographies. Denmark-based ATP manages DKK 593bn in pension savings for Danish citizens.

Company
Founded in 1968 and headquartered in Copenhagen, Nets provides payment, information and digital identity solutions. The company employs 2,600 employees in Denmark, Norway, Finland, Sweden and Estonia.

Nets was created in its current form in 2010 through the merger of Norway-based Nordito and Danish business PBS. The group acquired Finnish payments company Luottokunta in 2012.

People
James Brocklebank is a managing partner and head of Advent's financial services sector team in Europe. Robin Marshall is a managing director and co-head of Bain's financial services team in Europe. Carsten Stendevad is the CEO of ATP. Peter Lybecker is the chairman of Nets.

Advisers
Equity – UBS (Corporate finance); MHS Corporate Finance (Corporate finance); Infima (Corporate finance); Kirkland & Ellis (Legal), Accura (Legal); Hannes Snellman (Legal); Wiersholm (Legal); Marlborough Partners (Debt advisory).
Company – JP Morgan (Corporate finance); Gorrissen Federspiel (Legal); Bech Bruun (Legal); BAHR (Legal); Roschier (Legal).

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

• Topics
• Nordics
• Buyouts
• Support services
• Now researching
• Denmark
• Advent International
• Bain Capital