Litorina

After expanding the company’s geographic presence in the greater Nordic region and beyond, Litorina has exited its stake in Swedish IT security group Coromatic to regional rival EQT partners for a 35% IRR.

Swedish mid-market private equity house Litorina, led by managing partner Harold Kaiser, has smashed its SEK2bn target for Fund IV.

The Swedish mid-market firm has generated 10x its money selling furniture logistics business LGT to Nordic private equity firm Axcel in a rare secondary buyout. The deal is understood to be worth around SEK400m.

In its sixth acquisition since it closed its third fund last year, the lower mid-market buyout firm has acquired Textilia, a Swedish company which provides laundry services to the healthcare and nursing sectors, from Bure Equity.

The Nordic buyout firm continues to grow after closing its third fund last year.

After a year of groundwork the Nordic buyout firm has bought two IT security companies and reformed them into a combined group with a third company. Litorina Kapital has also brought in the two companies’ former chief executive when they were owned by Bewator, Bo Kastensson.

Swedish buyout firm Litorina Kapital, led by Harold Kaiser, has held the final close of its latest fund two times oversubscribed despite losing cornerstone investor Swedbank.

Swedish buyout firm Litorina Kapital, led by Harold Kaiser, has held the final close of its latest fund two times oversubscribed despite losing cornerstone investor Swedbank.

Conni Jonsson will transition into the role of chairman of EQT Holdings in March 2014.

Private equity groups in Sweden - who have attracted some bad press in recent years - are trying to improve their image via a self-imposed code of practice.

The EQT spin-out reached beyond its group of existing investors for Fund II, which will end fundraising oversubscribed.

The resilience and maturity of the Nordic private equity market have drawn the attention of international investors.