Nordic Capital related stories
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John Cannon Named Acting CFO of ConvaTecConvaTec, a privately-held developer and marketer of innovative medical technologies, has named John Cannon as acting chief financial officer of the company. Cannon succeeds Edward Borkowski, who has left the company, which is owned by Nordic Capital and Avista Capital Partners.
- Reuters – Owners Seek $1.3B for Finnish Mobile Co. DNA
The owners of Finnish mobile phone operator DNA and financial adviser UBS have launched a sale of the company which could be worth more than 1 billion euros ($1.3 billion), Reuters reported, citing three people familiar with the matter. Swiss bank UBS this week sent out information memorandums to prospective buyers, the people said. The sources declined to be identified because the process is private. One of the people said Swedish buyout firms EQT and Nordic Capital were likely to bid for the number three-ranked operator.
European Fund Briefs, April 2013Twilio launches API fund in Europe; Xange Private Equity closes second growth fund
- Reuters - Nordic Capital Sells Permobil to Investor AB
Nordic Capital has sold Permobil to Investor AB. The transaction values the company at SEK5,500 million ($842 million).
- SafeRoad CEO Resigns
Jon Erik Engeset, president and CEO of SafeRoad, has resigned. Saferoad is a Nordic Capital portfolio company. Engeset will leave SafeRoad with effect from July 1st 2013.
- Reuters - Hilding Anders Bids Due
First-round bids for Swedish bedmaker Hilding Anders and binding bids for cinema chain SF are due this week, deal advisers said, a sign buyout activity in the Nordic region is picking up pace after a sluggish end to last year, Reuters reported. Hilding Anders, controlled by private equity firm Arle Capital Partners, is seen fetching at least 1 billion euros ($1.3 billion), several advisers said, while the SF cinemas, owned by Swedish publisher Bonnier, could command a price of roughly 200 million to 250 million euros.
- Reuters - PPR to Sell Redcats units to Nordic Capital
French luxury and sports-brand group PPR said on Monday its Redcats mail order unit had agreed to sell Scandinavian brands Ellos and Jotex to Nordic Capital for an enterprise value of 275 million euros ($362 million), writes Reuters. The sale of home shopping brand Ellos and textile and decoration brand Jotex to the private equity fund should be completed in the coming months, writes Reuters.
peHUB First ReadCatch up on the latest private equity and venture capital-related links after the weekend which give us the lowdown on Battery Ventures' most recent fund performance; the latest Asian private equity news and what is boosting OMERS' returns.