Investment Summary

Permira and HarbourVest Partners Invest In Klarna

On July 21, 2017, private equity firms Permira and HarbourVest Partners invested in information technology company Klarna from General Atlantic and DST Global Solutions

Investment Highlights
  • This is Permira’s 5th and HarbourVest Partners’ 20th transaction in the Information Technology sector.
  • This is Permira’s 2nd and HarbourVest Partners’ 3rd transaction in Sweden.

Investment Summary

Date 2017-07-21
Target Klarna
Sector Information Technology
Investor(s) Permira
HarbourVest Partners
Sellers(s) General Atlantic
DST Global Solutions
Deal Type Stake Purchase

Target

Klarna

Stockholm, Sweden
website
Entrance to Klarna's corporate headquarters in central Stockholm.
Entrance to Klarna's corporate headquarters in central Stockholm.
Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

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Investor(S) 2

Investor

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 111 of 156
Sector (Information Technology) 5 of 9
Type (Stake Purchase) 7 of 10
Country (Sweden) 2 of 3
Year (2017) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-18 DiversiTech

Duluth, Georgia, United States

DiversiTech is an aftermarket manufacturer and distributor of components for residential and light commercial heating, ventilating, air conditioning, and refrigeration (‘HVACR’). DiversiTech was founded in 1971 and is based in Duluth, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-07 Netafim

Tel Aviv, Israel

Netafim Ltd. is a provider of smart drip and micro irrigation solutions for sustainable agriculture and other applications for over 100 countries and holds c.30% share of the global market.

Sell $1.9B
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 161 of 223
Sector (Information Technology) 20 of 25
Type (Stake Purchase) 4 of 7
Country (Sweden) 3 of 3
Year (2017) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-18 Lightower Fiber Networks

Boxborough, Massachusetts, United States

Lightower Fiber Networks LLC is a fiber network and broadband service provider in the Northeast, offering over 4,600 fiber route miles coupled with comprehensive transport, alternative access, and nationwide long haul services.

Sell $7.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 ista International

Essen, Germany

ista International GmbH sells a range of meter hardware and also provides a comprehensive package of related services such as meter installation, meter reading, billing, data processing, and maintenance. ista International GmbH was formed in 1999 and is based in Essen, Germany.

Sell -

Seller(S) 2

SELLER

General Atlantic

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 88 of 144
Sector (Information Technology) 16 of 22
Type (Stake Purchase) 8 of 9
Country (Sweden) 1 of 1
Year (2017) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 A Place for Mom

Seattle, Washington, United States

A Place for Mom is North America’s senior services network providing families with resources and personalized assistance in finding senior living options. A Place for Mom was founded in 2000 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-04 Karvy Computershare

Huntsville , Alabama, United States

Karvy Computershare is a provider of investor and issuer services for the asset management industry by offering its services through its branch network in over 200 locations. Karvy Computershare was founded in 1995 and is based in Huntsville, Alabama.

Buy -
SELLER

DST Global Solutions

Surbiton, United Kingdom

Category Company
Founded 1983
Sector Software
DESCRIPTION

DST Global Solutions Ltd. is a provider of software sophisticated information processing and servicing solutions to companies around the world.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Stake Purchase) 1 of 1
Country (Sweden) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-09 Klarna

Stockholm, Sweden

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

Buy -