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Private equity and venture capital news from Sweden

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• EQT acquires Swedish gas transmission network operator Swedegas 22 Dec 2009. Source: AltAssets. European private equity firm EQT has acquired Swedegas, a Swedish gas transmission network operator, through its infrastructure fund. The firm is to acquire all existing share capital from current owners E.ON Ruhrgas, Statoil, DONG Energy and Fortum.

• European VC firm Creandum promotes Cassel to general partner 02 Dec 2009. Source: AltAssets. Creandum, a venture capital firm investing in the Nordic region, has promoted Fredrik Cassel to general partner.

• Swedish Altor Equity Partners takes 200 pharmacies as monopoly is broken up 09 Nov 2009. Source: AltAssets. Swedish private equity firm Altor Equity Partners is the new owner of the biggest pharmacy chain in the country following a sale by the government to end the monopoly held by Apoteket.

• PE firms Priveq and Investor Growth Capital divest stakes in Swedish Orphan International 06 Nov 2009. Source: AltAssets. European private equity firms Priveq and Investor Growth Capital have sold Swedish Orphan International, a developer of drugs for the treatment of rare, life-threatening or chronically debilitating diseases.

• Nordic PE firm CapMan buys Swedish healthcare company SRK Konsultation 30 Oct 2009. Source: AltAssets. CapMan, a Nordic private equity firm listed on the Helsinki Stock Exchange, is to acquire a majority holding in Swedish-based SRK Konsultation from the company’s founder, Thomas Björkman, and other shareholders. No financial details have been disclosed.

• Swedish government venture firm Fouriertransform invests €5.8m in Powercell Sweden 29 Oct 2009. Source: AltAssets. The Swedish government’s automotive venture capital company Fouriertransform is making its first investment with the SEK60m (€5.8m) backing of Powercell Sweden, which develops, produces and sells fuel cells, fuel reformers and auxillary power units.

• 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.

• BC Partners loses control of Swedish caravan company 07 Sep 2009. Source: AltAssets. London-based private equity group BC Partners has lost control of Dometic, the Swedish caravans-fittings maker, according to the Independent.

• Nordic private equity firm Segulah hires former Kraft Foods executive 13 Aug 2009. Source: AltAssets. Segulah, a private equity firm focused on the lower mid-market of the Nordic region, has appointed the former CEO of Kraft Foods Nordic Peter Elving as industrial partner.

• 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.

• Just-Eat completes £10.5m Series A funding 13 Jul 2009. Source: AltAssets. Just-Eat, a European site for ordering meals online, has closed its first institutional financing. European venture capital firm Index Ventures led the £10.5mn round, with Venrex Investment Management and existing shareholders also participating. The capital will be used to consolidate the company’s leadership position in the UK and to expand into additional territories across Europe, the company said.

• SEB Asset Management sets up first Swedish real estate fund of funds for public 27 May 2009. Source: AltAssets. SEB Asset Management, the firm which spawned one of the best known European private equity funds, Industri Kapital, has set up a real estate fund of funds. This marks the first time a fund management company has received authorisation to distribute such a fund to the public in Sweden.

• French private equity firm Natixis sponsors new Swedish firm 26 May 2009. Source: AltAssets. French firm Natixis Private Equity is backing a new team, Granitix, which has just entered the Swedish private equity market.

• European venture firms Northzone and Amadeus lead investment in eye-tracking business 15 May 2009. Source: AltAssets. Amadeus Capital Partners and Northzone Ventures have led a SEK170m (€16m) B round investment in Tobii Technology, a Stockholm-based eye-tracking systems business.

• Rite Ventures buys bankrupt clothing company Frank Dandy Superwear 21 Apr 2009. Rite Ventures, a Stockholm-based venture capital firm, has acquired bankrupt clothing business Frank Dandy Superwear for an undisclosed sum.

• CapMan exits investment in XLENT, acquires Metals and Powders Holding 16 Apr 2009. CapMan, the Nordic alternative assets manager, has exited its investment in XLENT Consulting Group and acquired a majority holding in Metals and Powders Holding (MPT).

• Nordic firm Eqvitec Partners closes mezzanine fund on €103m 02 Apr 2009. Eqvitec Partners, a Nordic private equity firm, has closed its third mezzanine fund on €103m. According to the firm, it was successful in hitting its target.

• Ratos becomes majority shareholder in manufacturing company after 3i sale 02 Feb 2009. Source: AltAssets. Swedish listed private equity firm Ratos will become a majority shareholder in its associate DIAB after agreeing to an additional 48 per cent share purchase. 3i will sell the equity for SEK400m (€37.4m), giving Ratos a 96 per cent holding.

• 3i to sell stake in Nordic digital TV operator Boxer 19 Nov 2008. Source: AltAssets. Listed private equity firm 3i has agreed to divest its 30 per cent stake in Stockholm-based terrestrial digital television operator Boxer TV-Access to majority shareholder Teracom, the Swedish government-owned media operator. Financial details were not disclosed.

• Ratos executive vice president Thomas Mossberg retires 06 Aug 2008. Source: AltAssets. Thomas Mossberg, executive vice president of Swedish private equity firm Ratos, has retired, having reached his contractual retirement age of 62. Mossberg has held the position since 1988.

• Segulah makes €171m offer for industrial group Gunnebo 22 Jul 2008. Source: AltAssets. Nordic mid-market buy-out firm Segulah has made an offer to acquire industrial group Gunnebo Industrier for SEK185 (€19.5) per share, in a deal that values the company at SEK1.62bn (€171m).

• Ratos to sell Hägglunds Drives for €455m 18 Jul 2008. Source: AltAssets. Listed Swedish private equity firm Ratos has agreed to sell hydraulic motor and drive systems supplier Hägglunds Drives to Bosch Rexroth for approximately SEK4.3bn (€455m). The sale will generate an exit gain for Ratos of approximately SEK4.4bn (€466m) and an IRR of 56 per cent, according to the firm.

• EQT acquires Swedish retail chain Granngården 09 Jul 2008. Source: AltAssets. Nordic private equity firm EQT Partners has acquired Swedish retail chain Granngården from farmer's collective Lantmännen. The investment was made from the firm's €352m EQT Opportunity fund, which closed in January 2006.