Nordic Mezzanine, the Finnish mezzanine debt provider has launched a successor to the Nordic Mezzanine Fund which raised E100m in 1999. The aim is to raise in excess of E200m with Nordic Mezzanine Fund II and it will target mid-market buyouts and expansion capital investments, maintaining the industrial services sector focus of its predecessor.
The fund will be managed by Nordic Mezzanine UK and will be backed by the firm’s board of advisers chaired by Lars Eskesen. The fund will target investments across Scandinavia, Denmark and Germany.
In keeping with the previous fund’s strategy, the total value of the investee company will typically range from E25m to E300m. With fully committed capital Nordic Mezzanine plans to underwrite mezzanine positions of E5-30m although the fund will also make larger mezzanine commitments alongside co-investors.
Fund I participated in a number of major investments across the Nordic region over the last three years including participation in Nordic Capital’s acquisition of Nycomed Pharma. Nordic Mezzanine underwrote E22m of the E120m mezzanine package for the deal.
The firm’s most recent transaction came earlier this year as part of EQT Partners’ acquisition of Dometic, a manufacturer of refrigeration products from Electrolux.