Nordic Capital

Last updated
Nordic Capital
Company type Private
Industry Private Equity
Founded1989;36 years ago (1989)
Products Private equity funds, Buyouts
AUM $40 billion (2024)
Website nordiccapital.com

Nordic Capital is a global private equity firm focused on leveraged buyouts of established companies in Northern Europe and North America.

Contents

Founded in 1989, the firm manages about $40 billion of capital, with offices in New York, London, Stockholm, Frankfurt, Copenhagen, Helsinki, and Oslo.

Nordic Capital targets buyouts of large and medium-size companies across 4 core industries: Technology & Payments, Healthcare, Financial Services, and Services & Industrial Technology. [1]

Nordic Capital is one of the 25 largest private equity firms worldwide according to Private Equity International's PEI 300 ranking, with over $30 billion of capital raised within a 5-year period. [2]

In October 2022, Nordic Capital announced the successful closing of its 11th large-cap buyout fund at its hard cap of EUR 9 billion (USD $10 billion), exceeding its €8 billion target. The fund is over 45% larger than its predecessor large-cap fund (Nordic Capital Fund X), which raised €6.1 billion in 2020. [3] The fund closed in only nine months amidst some of the most challenging fundraising conditions in private equity history, and was the largest Europe-based private equity fund raised that year. [4]

Recent Activity

In November 2024, Nordic Capital acquired US-based IP management software company Anaqua for approximately $3 billion. The acquisition is expected to close by the first quarter of 2025, subject to approval from the relevant regulatory and antitrust authorities. [5] In the same month, Nordic Capital acquired a controlling stake in Max Matthiessen for over $1 billion. [6]

In October 2024, Nordic Capital was reportedly exploring a potential sale or IPO of fintech company Trustly that could value the portfolio company at over $10 billion. [7] Nordic Capital acquired Trustly in 2018 at a $800 million valuation. [8] In 2024, it was reported that Trustly is on track towards processing $100 billion in Total Payments Value for the year, representing a 33% year-over-year growth. [9]

In August 2024, Hargreaves Lansdown (LON: HL) agreed to be taken private for $7 billion by Nordic Capital and CVC Capital Partners. [10] In the same month, Nordic Capital was said to be exploring a potential IPO of financial services company NOBA that could value the company at over $4 billion. [11]

In June 2024, it was reported that Clario, an US-based healthcare software company owned by Nordic Capital, confidentially filed for an IPO, targeting a valuation of more than $10 billion. [12]

In April 2024, Nordic Capital invested in One Inc, an US-based digital payments platform. [13]

In February 2024, Nordic Capital acquired US-based financial software company ActiveViam. [14]

In January 2024, Nordic Capital acquired Surgical Information Systems, an US-based healthcare software company. [15]

In December 2023, Nordic Capital acquired IntegriChain, an US-based healthcare technology company. [16]

In July 2023, Nordic Capital sold software company Macrobond to Francisco Partners, yielding over 6x multiple of invested capital after first backing Macrobond in 2018. [17] During Nordic Capital's ownership, Macrobond saw its annual contract value (ACV) more than triple, resulting in a remarkable 34% year-on-year growth. In March 2024, Nordic Capital was honored with the Exit of the Year Award at the Private Equity International Awards for the sale of Macrobond. [18]

In January 2023, Nordic Capital completed the sale of The Binding Site to Thermo Fisher Scientific for $2.8 billion. [19] This exit represented a 19x net multiple of invested capital for Nordic Capital. [20]

In October 2022, Nordic Capital invested in medical device company Equashield through a deal valued at over $1.3 billion. [21]

In November 2021, Nordic Capital completed the take-private of US-based healthcare software company Inovalon (NASDAQ: INOV) for $7.3 billion. [22] In accordance with the terms of the agreement, Inovalon stockholders received $41.00 in cash for each share of Inovalon Class A Common Stock and Class B Common Stock. [23]

Investment Funds

Select Exited Investments



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References

  1. ↑ "Nordic Capital: Our Approach".
  2. ↑ "PEI300".
  3. ↑ "Nordic Capital completes one of the largest fundraises in Europe this year, closing Nordic Capital Fund XI at EUR 9 billion hard cap".
  4. ↑ "Nordic Capital Raises Europe's Largest Fund This Year".
  5. ↑ "Nordic Capital Confirms Talks to Buy IP Software Firm Anaqua for $3 billion". Bloomberg.com. 2024-11-18. Retrieved 2024-12-12.
  6. ↑ "Nordic Capital to acquire Max Matthiessen".
  7. ↑ "Nordic Capital Explores Options for $10 Billion Payment Firm Trustly".
  8. ↑ "Nordic Capital Explores Options for $10 Billion Payment Firm Trustly".
  9. ↑ "Trustly to Process $100 Billion Annually, Leading the Pay by Bank Surge".
  10. ↑ "Nordic Capital and CVC Capital Partners takes Hargreaves Lansdown private for $7 billion".
  11. ↑ "Nordic Capital Is Said to Weigh IPO of NOBA".
  12. ↑ "Clario files confidentially for US IPO".
  13. ↑ "Nordic Capital to invest in leading digital payments network One Inc".
  14. ↑ "Nordic Capital Acquires US-based Data Analytics Company ActiveViam".
  15. ↑ "Nordic Capital Acquires Surgical Information Systems".
  16. ↑ "Nordic Capital acquires IntegriChain, the only fully integrated platform for pharma commercialization and market access".
  17. ↑ "Buyout group Francisco Partners to acquire Macrobond from Nordic Capital".
  18. ↑ "Nordic Capital Wins Exit of the Year for Macrobond at the Private Equity International Awards 2023".
  19. ↑ "Thermo Fisher Scientific Completes Acquisition of The Binding Site Group from Nordic Capital for $2.8 Billion".
  20. ↑ "Nordic Capital Nets 19x Return on The Binding Site Exit".
  21. ↑ "Equashield sells stake to Nordic Capital at $1.3 billion valuation".
  22. ↑ "Inovalon to be Taken Private by Nordic Capital in $7.3 Billion Deal".
  23. ↑ "Inovalon to be Taken Private by Nordic Capital in $7.3 Billion Deal".
  24. ↑ "Nordic Capital Funds".
  25. ↑ "Nordic Capital Funds".
  26. ↑ "Nordic Capital Funds".
  27. ↑ "Nordic Capital Funds".
  28. ↑ "Takeda Buys Nycomed for $14 Billion".
  29. ↑ "Nordic Capital awarded "Deal of the Last 20 Years" for Nycomed".
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