Herkules Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Herkules Capital has invested in 1 company.

Herkules Capital’s most common sectors for investment areenergy services and equipment (11%) and manufacturing (8%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (70%) and secondary buyout (13%). In total, Herkules Capital has invested in 4 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired Aibel AS for $900M.

In the last 3 years, Herkules Capital has exited 6 companies. The Firm’s most common exit type is trade sale (42%). Herkules Capital’s largest (disclosed) exit occurred in 2012 when it sold Aibel AS for $1.0B.

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M&A Summary

  • M&A Total Activity73
    • M&A Buy Activity39
    • M&A Sell Activity34
  • Total Sectors Invested 22
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 20
  • M&A Advisors 4

Herkules Capital

Herkules Capital AS

Haakon VII's gt. 5B, Entrance from Munkedamsveien,
Oslo, 0125
Norway
+47 22 04 80 00
www.herkulescapital.no
post@herkules.no

Herkules Capital is a private equity firm focused on acquiring controlling interests in established companies located in Norway and other Nordic countries. Herkules looks to commit NOK 100 to NOK 1200 million of equity capital per transaction and will consider investing in public and private companies. Sectors of interest include oil services, healthcare, consumer, trade/retail, services and telecom. The Firm's investment horizon is typically five to seven years. Herkules was formerly known as Fer Private Equity. The Firm is based in Lysaker, Norway.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Electrical Equipment, Energy Services and Equipment, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Machinery, Manufacturing, Medical Products, Renewable Energy, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Secondary Buyout, Stake Purchase

Geographic Preferences: Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 1,200
Enterprise Value 250 2,000
values in millions of NOK

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 38 - 1 - - - 39
vol $900M $900M
Sell (1.4/yr) # 27 1 3 2 1 - 34
vol $2.5B $2.5B
  73

Most Recent M&A

Company Date Value Type
Scana ASA 2023-04-26 - Stake Sale
Bergen, Norway · www.scana.no
Odlo Trading AG 2022-05-18 - Secondary Sale
Hunenberg, Switzerland · www.odlo.com
Petroleum Technology Co. AS 2022-04-21 - Trade Sale
Stavanger, Norway · www.ptc.as
PSW Group AS 2021-12-15 - Merger
Mongstad, Norway · www.psw.no
Scana ASA 2021-12-15 - Stake Purchase
Bergen, Norway · www.scana.no
Beckmann AS 2021-08-10 - Trade Sale
Kristiansand, Norway · www.beckmann-norway.com
Eterni Gruppen AS 2021-07-02 - Trade Sale
Bergen, Norway · www.eterni.no
Elektroimportøren AS 2020-12-10 - IPO
Oslo, Norway · www.elektroimportoren.no
Norsk Jernbanedrift AS 2019-07-05 - Trade Sale
Porsgrunn, Norway · www.njd.no
Nevion AS 2019-06-27 - Stake Sale
Sandefjord, Norway · www.nevion.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment - - 4 (10%) 900M (100%)
Consumer Products - - 3 (8%) -
Electrical Equipment - - 3 (8%) -
Manufacturing - - 3 (8%) -
Apparel/Textiles - - 2 (5%) -
Construction - - 2 (5%) -
Internet Software and Services 1 (50%) - 2 (5%) -
Life Science - - 2 (5%) -
Restaurants 1 (50%) - 2 (5%) -
Retail - - 2 (5%) -
Software - - 2 (5%) -
Technology Hardware - - 2 (5%) -
Business Services - - 1 (3%) -
Communications - - 1 (3%) -
Distribution - - 1 (3%) -
Education - - 1 (3%) -
Electronics - - 1 (3%) -
Furniture - - 1 (3%) -
Healthcare Services - - 1 (3%) -
Marine - - 1 (3%) -
Oil/Gas Exploration - - 1 (3%) -
Staffing - - 1 (3%) -
Total 2 - 39 $900M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Norway 1 (50%) - 32 (82%) 900M (100%)
Sweden 1 (50%) - 5 (13%) -
Denmark - - 1 (3%) -
Switzerland - - 1 (3%) -
Domestic 1 (50%) - 32 (82%) 900M (100%)
Cross-border 1 (50%) - 7 (18%) -
Total 2 - 39 $900M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 1 (50%) - 27 (69%) -
Secondary Buyout - - 5 (13%) 900M (100%)
Divestiture - - 3 (8%) -
Stake Purchase - - 3 (8%) -
Venture 1 (50%) - 1 (3%) -
Total 2 - 39 $900M

Exits by Deal Type

Type Total # Value
Secondary Sale 11 (32%) 1.6B (64%)
Trade Sale 11 (32%) -
Trade Sale - Public Company 5 (15%) 900M (36%)
Stake Sale 3 (9%) -
Unknown 2 (6%) -
IPO 1 (3%) -
Merger 1 (3%) -
Total 34 $2.5B

Top M&A Advisors

Financial Deals
PwC Corporate Finance LLC
 2
DNB Markets
 1
Legal Deals
DLA Piper
 1
Advokatfirmaet Schjødt
 1

Deal Values

buy # Total
$100M to $1B 1 $900M
TOTAL $900M
Largest Aibel AS
$900M (2007-08-01)
sell # Total
> $1B 1 $1.0B
$100M to $1B 3 $1.5B
TOTAL $2.5B
Largest Aibel AS
$1.0B (2012-12-18)

M&A Connections

Deals
Acquired from
Investor(s)
13%
5 (13%)
Strategic(s)
5%
2 (5%)
Exited to
Investor(s)
29%
10 (29%)
Strategic(s)
50%
17 (50%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

15.1B NOK

Established

2004

Specialist/Generalist

Generalist

Leadership

Morten Blix

Co-Founder & Senior Partner

Gert Munthe

Founding Partner & Chairman

Fredrik Kongsli

Partner

Fredrik Toft Bysveen

Partner

Krister Hytten Eriksen

CFO

FAQ

When was Herkules Capital founded?

Herkules Capital was founded in 2004.

What type of investor is Herkules Capital?

Herkules Capital is a private equity firm.

Where is Herkules Capital headquartered?

Herkules Capital is headquartered in Oslo, Norway.

How much capital does Herkules Capital have under management?

Herkules Capital has 15.1B NOK under management.

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