Ratos reaps €20m from Nebula refinancing

The dividend cap is the first instance of Ratos realising value from its investment since it acquired Nebula through an €82.5m SBO in March 2013.

At the time, Ratos provided €34m of equity for its 73% stake, which the GP will discount in its portfolio with a corresponding amount after the €20m refinancing.

Ratos's decision to refinance follows a period of strong growth for Nebula, according to the GP, as well as the add-on acquisition of telecommunications company Telecity's Finnish network and data support operations.

Previous funding
Nebula first received private funding in May 2007, when Swedish growth investor Rite Ventures took a 30% stake in the Helsinki-headquartered company.

In March 2010, Rite Ventures acquired a further 50% stake, bringing its total stake to 80%.

Ratos invested in Nebula through an MBO in March 2013, with Rite Ventures and company management holding 15% and 10% respectively.

Company
Nebula is a provider of cloud services, IT infrastructure and network services to small and medium-sized Finnish companies.

Founded in 1997 and headquartered in Helsinki, Nebula employs 120 people and had net sales of €28.6m in 2014.

People
Susanna Campbell is the CEO of Ratos.

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• Topics
• Nordics
• Exits
• Technology
• Finland
• Ratos Holding
• Refinancing