Nordic Capital

Last updated
Nordic Capital
Company type Private
Industry Private Equity
Founded1989;36 years ago (1989)
Products Private equity funds, Buyouts
AUM $50 billion (2025)
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 $50 billion of capital, with offices in New York, London, Stockholm, Frankfurt, Copenhagen, Helsinki, and Oslo.

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

In 2023, Nordic Capital was 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 $11 billion), exceeding its €8 billion target. The fund was more than 45% larger than its predecessor large-cap fund (Nordic Capital Fund X), which raised €6.1 billion in 2020. [3] The fund closed in 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]

As of December 2024, Nordic Capital portfolio companies have generated an annual average EBITDA growth of 17% and saw their organic EBITDA grew by 19% since the firm's inception in 1989. [5]

In February 2025, Nordic Capital won two awards at the Private Equity Wire Europe Awards 2025. [6]

Recent activity

In July 2025, Nordic Capital, acquired Arcadia, a US-based healthcare software company. [7]

In April 2025, Nordic Capital was reportedly exploring a carve-out acquisition of the IP unit of US-based analytics company Clarivate that would value the unit at north of $4 billion. [8]

In March 2025, Nordic Capital completed the $7 billion take-private of UK-based Hargreaves Lansdown (LON: HL) alongside CVC Capital Partners and ADIA. [9]

In February 2025, Nordic Capital acquired US-based IP management software company Anaqua for approximately $3 billion. [10]

In November 2024, Nordic Capital acquired a controlling stake in Max Matthiessen for over $1 billion. [11]

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. [12] Nordic Capital acquired Trustly in 2018 at a $800 million valuation. [13] 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. [14]

In August 2024, Hargreaves Lansdown (LON: HL) agreed to be taken private for $7 billion by Nordic Capital and CVC Capital Partners. [15] 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. [16]

In July 2024, Nordic Capital acquired a majority stake in Sensio, a leading medical technology provider. [17]

In June 2024, it was reported that Clario, a US-based healthcare software company owned by Nordic Capital, confidentially filed for an IPO, targeting a valuation of more than $10 billion. [18]

In April 2024, Nordic Capital invested in One Inc, a US-based digital payments platform. [19]

In February 2024, Nordic Capital acquired US-based financial software company ActiveViam. [20]

In January 2024, Nordic Capital acquired Surgical Information Systems, a US-based healthcare software company. [21]

In December 2023, Nordic Capital acquired IntegriChain, a US-based healthcare technology company. [22]

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. [23] During Nordic Capital's ownership, Macrobond saw its annual contract value (ACV) more than triple, resulting in a year-on-year growth of 34%. 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. [24]

In January 2023, Nordic Capital completed the sale of The Binding Site to Thermo Fisher Scientific for $2.8 billion. [25] This exit represented a 19x net multiple of invested capital for Nordic Capital. [26]

In October 2022, Nordic Capital invested in medical device company Equashield through a deal valued at over $1.3 billion. [27]

In November 2021, Nordic Capital completed the take-private of US-based healthcare software company Inovalon (NASDAQ: INOV) for $7.3 billion. [28] 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. [29]

Investment funds

The following investment funds are listed at Nordic Capital's website: [30]

Select exited investments


References

  1. Nordic Capital. "Nordic Capital: Our Approach". Nordic Capital.
  2. "Download the June 2023 issue of Private Equity International - PEI300" . Private Equity International. 2023-06-01.
  3. Nordic Capital. "Nordic Capital completes one of the largest fundraises in Europe this year, closing Nordic Capital Fund XI at EUR 9 billion hard cap". www.prnewswire.com. Retrieved 2025-09-05.
  4. Mendoza, Carmela (2022-10-06). "Nordic Capital Raises Europe's Largest Fund This Year" . Private Equity International. Retrieved 2025-09-15.
  5. "Nordic Capital 2024 Annual Report" (PDF). Nordic Capital. 2024-12-31. Archived from the original on 2025-04-17. Retrieved 2025-09-05.
  6. "Nordic Capital wins two awards at PE Wire European Awards". Nordic Capital. Retrieved 2025-03-05.
  7. Armental, Maria (2025-07-01). "WSJ Exclusive: Nordic Capital Acquires Healthcare Analytics Company Arcadia" . The Wall Street Journal .
  8. "PE giants CD&R and Nordic Capital eye Clarivate's IP division".{{cite web}}: CS1 maint: url-status (link)
  9. Nordic Capital. "Nordic Capital and CVC Capital Partners takes Hargreaves Lansdown private for $7 billion". Nordic Capital.
  10. "Nordic Capital completes acquisition of Anaqua". Globe Newswire. 2025-02-25. Retrieved 2025-05-18.
  11. "Nordic Capital to acquire Max Matthiessen". Nordic Capital.
  12. "Nordic Capital Explores Options for $10 Billion Payment Firm Trustly". BNN Bloomberg.{{cite web}}: CS1 maint: url-status (link)
  13. "Nordic Capital Explores Options for $10 Billion Payment Firm Trustly". Reuters.{{cite web}}: CS1 maint: url-status (link)
  14. "Trustly to Process $100 Billion Annually, Leading the Pay by Bank Surge". businesswire. 2024-10-23.
  15. Nikolova, Maria (2024-10-14). "Nordic Capital and CVC Capital Partners takes Hargreaves Lansdown private for $7 billion". fxnewsgroup.
  16. "Nordic Capital Is Said to Weigh IPO of NOBA" . Bloomberg. 2024-08-21.
  17. "Nordic Capital to acquire a majority stake in Sensio". Nordic Capital. Retrieved 2025-03-05.
  18. "Clario files confidentially for US IPO" . Bloomberg. 2024-06-25.
  19. Nordic Capital (2023-03-14). "Nordic Capital to invest in leading digital payments network One Inc". PR Newswire.
  20. "Nordic Capital Acquires US-based Data Analytics Company ActiveViam" . The Wall Street Journal . 2024-02-28.
  21. "Nordic Capital Acquires Surgical Information Systems". Mergr.
  22. Nordic Capital. "Nordic Capital acquires IntegriChain, the only fully integrated platform for pharma commercialization and market access". Nordic Capital.
  23. "Buyout group Francisco Partners to acquire Macrobond from Nordic Capital" . Financial Times.
  24. Nordic Capital. "Nordic Capital Wins Exit of the Year for Macrobond at the Private Equity International Awards 2023". Nordic Capital.
  25. "Thermo Fisher Scientific Completes Acquisition of The Binding Site Group". ir.thermofisher.com. Archived from the original on 2025-07-11. Retrieved 2025-09-05.
  26. Weitzman, Aaron (2022-11-17). "Nordic Capital Nets 19x Return on The Binding Site Exit" . PE Hub.
  27. "Equashield sells stake to Nordic Capital at $1.3 billion valuation". calcalistech.{{cite web}}: CS1 maint: url-status (link)
  28. Dabaie, Michael. "Inovalon to be Taken Private by Nordic Capital in $7.3 Billion Deal" . The Wall Street Journal .
  29. Nordic Capital. "Inovalon to be Taken Private by Nordic Capital in $7.3 Billion Deal". Nordic Capital.
  30. Nordic Capital. "About Us". Nordic Capital. Retrieved 2025-09-05.
  31. Inagaki, Kana (2011-05-20). "Takeda Buys Nycomed for $14 Billion" . The Wall Street Journal .
  32. Nordic Capital. "Nordic Capital awarded "Deal of the Last 20 Years" for Nycomed". Nordic Capital.