Nordic Capital buys Unifeeder from Montagu Private Equity

The acquisition is subject to approval by competition authorities. Nordic invested via its Fund VIII vehicle, which held a first close on €1.7bn in February, exceeding its expected €1.5bn first-close target.

Nordic Capital is understood to have been following Unifeeder for a long time. The GP was aware that Montagu Private Equity was contemplating a sale of the company, and was attracted by the investment opportunity.

Sources close to the deal said an extensive preparation phase allowed Nordic Capital to conduct a swift confirmatory due diligence, and that actual negotiations from start to close were done in a matter of weeks.

Montagu bought Unifeeder in 2007 and reportedly reaped a 2x return on its investment.

Company
Unifeeder was established in 1977 and operates the largest feeder network in Northern Europe. The company transports containers from the large container hubs at Hamburg, Bremerhaven and Rotterdam to regional ports across the Nordic region, the Baltic states and Russia.

Unifeeder had in excess of 8,000 calls in more than 40 ports in 2012.

The company is headquartered in Aarhus, with local offices in Norway, Sweden, Finland, Poland, the UK, Germany, the Netherlands and Russia. In addition, the company has a presence through agents in Estonia, Latvia, Lithuania, Spain, Tunisia and Algeria.

People
Lars Terney is a partner at Nordic Capital. Mads Hansen is a director and head of the Nordic region at Montagu Private Equity. Jesper Kristensen is the CEO of Unifeeder.

Advisers
Equity - Citigroup (Corporate finance), UniCredit (Corporate finance)
Vendor - Canaccord Genuity (Corporate Finance).

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