M&A Deal Summary

Hellman & Friedman and HarbourVest Partners Acquire Nets

On September 25, 2017, private equity firms Hellman & Friedman and HarbourVest Partners acquired financial services company Nets for 33.1B DKK

Acquisition Highlights
  • This is Hellman & Friedman’s 10th and HarbourVest Partners’ 11th transaction in the Financial Services sector.
  • This is Hellman & Friedman’s 6th and HarbourVest Partners’ 12th largest (disclosed) transaction.
  • This is Hellman & Friedman’s 1st and HarbourVest Partners’ 1st transaction in Denmark.
Investment Fate
  • Nets merged with another company in 2021.

M&A Deal Summary

Date 2017-09-25
Target Nets
Sector Financial Services
Buyer(s) Hellman & Friedman
HarbourVest Partners
Deal Type Going Private
Deal Value 33.1B DKK

Target

Nets

Ballerup, Denmark
website
Nets is a payments processing utility for the Nordics region. Nets connects banks, businesses, public sector organizations, merchants and consumers through an international network facilitating digital payments. Nets was founded in 1968 and is based in Ballerup, Denmark.

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Buyer(S) 2

Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 68 of 87
Sector (Financial Services) 10 of 12
Type (Going Private) 12 of 17
Country (Denmark) 1 of 1
Year (2017) 4 of 5
Size (of disclosed) 6 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-14 Curriculum Associates

North Billerica, Massachusetts, United States

Curriculum Associates is a provider of technology-enabled assessment and instructional programs for elementary and middle school students, teachers and administrators. The company’s adaptive assessments, personalized learning materials and exceptional customer service help students achieve their full potential and make teachers more effective. Curriculum Associates was founded in 1969 and is based in North Billerica, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-19 Belron

Surrey, United Kingdom

Belron is a provider of glass repair and replacement, trading under more than 10 major brands including Carglass, Safelite AutoGlass, and Autoglass. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Belron is based in Surrey, England.

Buy -
Buyer

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 163 of 221
Sector (Financial Services) 11 of 15
Type (Going Private) 22 of 27
Country (Denmark) 1 of 1
Year (2017) 11 of 14
Size (of disclosed) 12 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-21 Schenck Process

Darmstadt, Germany

Schenck Process is a provider of solutions in measuring and process technologies in industrial weighing, feeding, screening and automation. Schenck develops, manufactures and markets a full range of solutions, products and turnkey systems on the basis of combining process engineering expertise, reliable components and field-proven technology. Schenck Process was founded in 1881 and is based in Darmstadt, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 TortoiseEcofin

Overland Park, Kansas, United States

TortoiseEcofin engages in essential assets and income investing. Through its registered advisers, Tortoise provides investors access to differentiated active and passive investment solutions and market insights. Tortoise was founded in 2002 and is based in Overland Park, Kansas.

Buy -