Norway

Private equity and venture capital news from Norway

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• Eco-friendly microcontroller company Energy Micro in $13m VC round 18 Mar 2010. Source: AltAssets. Eco-friendly microcontroller developer Energy Micro has secured $13m in capital from venture funds Northzone Ventures and Investinor, in its first external financing round.

• DFJ Esprit hires senior adviser for Nordic investments 12 Mar 2010. Source: AltAssets. European venture capital firm DFJ Esprit has hired Mikko Suonenlahti, who joins the team as a senior adviser, focusing on investments in the B2B and B2C software, medtech, bio-IT and energy efficiency sectors in the Nordic region.

• Northzone Ventures raises €90m for first close 16 Feb 2010. Source: AltAssets. Northzone Ventures, a Nordic venture capital firm that invests in the technology space, has held the first close of its latest fund, Northzone VI, on €90m. Targeting €150m, the fund will follow its predecessors’ strategies by investing in fast growing European technology and cleantech companies.

• CapMan sells men's suit maker Turo Tailor to management 15 Feb 2010. Source: AltAssets. CapMan, a listed private equity firm headquartered in Helsinki, has agreed to sell its majority stake in Turo Tailor, the Nordic region’s largest producer of men's suits, to the company’s management.

• UK’s Gresham Private Equity makes 3.4 times return on healthcare exit 02 Feb 2010. Source: AltAssets. Gresham Private Equity is set to exit its investment in Minivator Group in a transaction that will yield a 3.4 times return for the UK mid-market private equity house.

• Private equity firm Riverstone in renewables amalgamation agreement 21 Dec 2009. Source: AltAssets. Offshore wind farm servicer Seajacks International has entered into an amalgamation agreement with R/C Europe Offshore Investment Partnership, controlled by private equity firm Riverstone Holdings, under which Riverstone will pay a cash consideration of NOK90 (€10.73) per Seajacks share, valuing the total share capital of Seajacks at NOK1.2bn (€0.14bn).

• CapMan invests in Profit and Proffice 16 Dec 2009. Source: AltAssets. Russia and Nordic country-focused alternative asset manager CapMan has invested in Nordic staffing company Proffice and Profit Software, a provider of IT insurance solutions to Northern Europe.

• Innotech Solar receives $9m from Norwegian start-up financier Investinor 02 Dec 2009. Source: AltAssets. Innotech Solar has received a $9.6m investment from Investinor, a firm specialising in Norwegian start-up investments, which will be used to increase development.

• Nordic sustainable wood company Kebony in €12m venture round 01 Dec 2009. Source: AltAssets. Nordic sustainable wood company Kebony has completed a €12m financing round led by the Environmental Technologies Fund. Kebony utilises a proprietary wood modification technology to transform sustainable wood species into wood which looks, feels and performs like tropical hardwood.

• Nordic Capital saves Master Marine with €270m recapitalisation 06 Oct 2009. Source: AltAssets. Private equity house Nordic Capital has provided a financing package of €270m to offshore energy service company Master Marine, making it the majority owner of the company.

• Norwegian private equity firm Herkules takes 54 per cent of Projectiondesign 05 Oct 2009. Source: AltAssets. Herkules Private Equity, a Norwegian firm that invests in Nordic companies, has acquired 54 per cent of Projectiondesign’s shares from Eker Group for an undisclosed sum.

• Nordic private equity firm CapMan takes 49 per cent stake in Papa John’s Russian franchise 25 Sep 2009. Source: AltAssets. Listed private equity firm CapMan has acquired a 49 per cent stake in the master franchise of the Papa John’s pizza chain in Russia, with the aim of expanding operations in Moscow and other large Russian cities.

• Scandinavian private equity house Procuritas closes fourth fund on €139m. 14 Sep 2009. Source: AltAssets. Scandinavian private equity house Procuritas has closed its Procuritas Capital Investors IV fund on €139m.

• Venture capital firm Creandum takes stake in Norwegian TV company 28 Aug 2009. Source: AltAssets. Nordic venture capital firm Creandum has become a shareholder of Appear TV, a Norwegian broadcast technology company.

• FSN Capital Partners scores hat trick of deals 07 Aug 2009. Source: AltAssets. FSN Capital Partners, a Nordic private equity house, has just struck a number of deals, making its third, fourth and fifth investments since the firm’s launch.

• AAC Capital Partners tows in Viking Redningstjeneste stake 08 May 2009. AAC Capital Partners, the Northern European mid-market buy-out firm that spun out from Dutch banking group ABN AMRO, has acquired a "substantial stake" in Viking Redningstjeneste, a Norwegian roadside assistance company.

• Energy Ventures sets up NOK85m top-up fund 01 May 2009. Energy Ventures, a Norwegian venture capital firm focused on investments in the energy sector, has established a NOK85m (€9.8m) top-up fund, Energy Ventures (B) IS, to provide additional investment capacity to its Energy Ventures II KS fund.

• Capricorn Cleantech Fund invests €3.5m in Metallkraft 19 Dec 2008. Source: AltAssets. Capricorn Cleantech Fund has invested €3.5m in Norwegian company Metallkraft in its bid to expand the use of recycled slurry in the manufacturing of silicon solar modules.

• Herkules closes largest Norwegian private equity fund to date on NOK6bn 05 Nov 2008. Source: AltAssets. Herkules Capital, formerly known as Ferd Private Equity, has closed its third fund on NOK6bn (€690m), the hard cap of the fund. Herkules III is the largest private equity fund raised in Norway to date. It was launched in spring with an original target of NOK5bn.

• Norwegian company Tandberg ends talks with private equity investor 03 Oct 2008. Source: AltAssets. Oslo-listed video conference systems company Tandberg has ended its talks with a private equity firm because it believes that the price it would achieve in this market environment would be too low.

• Norwegian company Tandberg confirms approach by private equity firm 15 Aug 2008. Source: AltAssets. Oslo-listed video conference systems company Tandberg has confirmed that it had been approached by a private equity firm. It is not known which private equity firm has made the approach but media speculation suggests that it could be Silver Lake.

• Norwegian firm Norvestor closes Norvestor V on €236m 11 Aug 2008. Source: AltAssets. Oslo-based mid-market private equity firm Norvestor Equity has closed its fifth fund, Norvestor V, on €236m, exceeding the fund's initial target of €225m.

• HitecVision sells three Fund III investments to Cubera Private Equity 15 Jul 2008. Source: AltAssets. Norwegian private equity firm HitecVision has sold three investments from its HitecVision Private Equity III fund to Cubera Private Equity, a Norwegian secondaries specialist.