Servisen sells seven portfolio companies to Cubera

Swedish buyout firm Servisen has sold seven IT companies to Nordic secondaries specialist Cubera Private Equity.

Nordic fund of funds Cubera Private Equity has bought seven information technology companies from the portfolio of Swedish buyout firm Servisen.

The Servisen portfolio has been acquired by Cubera’s first secondary fund, which is managed by Forma Capital. The terms of the secondaries deal were not disclosed.

Cubera spokeswoman Kine Burøy Ianssen said: “Cubera does not usually manage portfolio companies as we are a fund of funds, although we have sourced these acquisitions.”
 
The largest of the companies it has bought are Sörman Holding, Envox Group and Netsurvey Bolinder. Six of the companies are Swedish and one is Canadian.

Another exception to Cubera’s non-managing fund of funds model is its ownership of Swedish tail-end fund Omar. The fund of funds manager acquired a 30 percent stake in Omar in December 2006, on the understanding that it would take over the fund’s management.