Tesi Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Tesi has invested in 3 companies.

Tesi’s most common sectors for investment are information technology (13%) and software (10%). The Firm’s most common investment types include venture (39%) and growth capital (32%). In total, Tesi has invested in 2 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2011 when it acquired Pohjolan Design-Talo Oy for $86M.

In the last 3 years, Tesi has exited 5 companies. The Firm’s most common exit type is trade sale (84%). Tesi’s largest (disclosed) exit occurred in 2008 when it sold Scandinavian Minerals for $214M.

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M&A Summary

  • M&A Total Activity81
    • M&A Buy Activity63
    • M&A Sell Activity18
  • Total Sectors Invested 27
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 30

Tesi

Porkkalankatu 1,
Helsinki, FI-00180
Finland
+358 9 680 3680
www.industryinvestment.com
info@industryinvestment.com

Tesi is a Finnish venture capital and private equity firm specializing in fund and direct investments. Tesi specifically targets minority investments in early, growth stage, and established businesses. Areas of interest include industrial, mining, software, business and consumer services, healthcare, life science, cleantech, and marine. Tesi was established in 1995 and it is based in Helsinki.


Investment Criteria

Sectors of Interest: Automotive, Beverages, Business Services, Chemicals, Communications, Construction, Consumer Services, Distribution, Electrical Equipment, Engineering, Environmental, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Machinery, Medical Products, Metals/Mining, Real Estate, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware

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

Geographic Preferences: Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 0 20
Enterprise Value - -
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.8/yr) # 59 1 1 1 1 - 63
vol $96M $96M
Sell (1.4/yr) # 11 2 4 - - 1 18
vol $245M $68M $27M $340M
  81

Most Recent M&A

Company Date Value Type
Kaiku Health Ltd. 2020-05-19 - Add-on Acquisition
Helsinki, Finland · www.kaikuhealth.com
Picosun Oy 2019-06-28 - Growth Capital
Espoo, Finland · www.picosun.com
Uusioaines Oy 2018-11-07 - Venture
Jokioinen, Finland · www.uusioaines.com
IonPhasE Oy 2017-12-20 27M EUR Add-on Acquisition
Tampere, Finland · www.ionphase.fi
Visedo Oy 2017-11-01 - Add-on Acquisition
Lappeenranta, Finland · www.visedo.fi
StaffPoint Oy 2017-10-05 - Secondary Buyout
Helsinki, Finland · www.staffpoint.fi
BCB Medical Oy 2017-08-18 - Growth Capital
Turku, Finland · www.bcbmedical.com
ThermiSol Oy 2017-02-16 - Add-on Acquisition
Sastamala, Finland · www.thermisol.fi
Forenom Oy 2016-12-29 - Growth Capital
Helsinki, Finland · www.forenom.fi
Rightware Oy 2016-12-19 68M USD Add-on Acquisition
Espoo, Finland · www.rightware.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Profit Software Oy 2014-09-30 Evolvit Oy 2017-06-15 1
Espoo, Finland · www.profitsoftware.com Espoo, Finland · www.evolvit.fi

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 6 (14%) - 8 (13%) -
Software 5 (12%) - 6 (10%) -
Electrical Equipment 1 (2%) - 5 (8%) -
Machinery 4 (10%) - 5 (8%) -
Internet Software and Services 4 (10%) - 4 (6%) -
Metals/Mining 1 (2%) - 4 (6%) -
Construction 2 (5%) 86M (89%) 3 (5%) 86M (89%)
Environmental 2 (5%) - 3 (5%) -
Semiconductors 3 (7%) - 3 (5%) -
Business Services 1 (2%) 10M (11%) 2 (3%) 10M (11%)
Chemicals 1 (2%) - 2 (3%) -
Medical Products 1 (2%) - 2 (3%) -
Retail - - 2 (3%) -
Automotive 1 (2%) - 1 (2%) -
Beverages 1 (2%) - 1 (2%) -
Communications - - 1 (2%) -
Distribution 1 (2%) - 1 (2%) -
Energy Services and Equipment 1 (2%) - 1 (2%) -
Engineering 1 (2%) - 1 (2%) -
Financial Services 1 (2%) - 1 (2%) -
Forest Products 1 (2%) - 1 (2%) -
Healthcare Services 1 (2%) - 1 (2%) -
Leisure 1 (2%) - 1 (2%) -
Real Estate - - 1 (2%) -
Safety/Security 1 (2%) - 1 (2%) -
Staffing - - 1 (2%) -
Technology Hardware 1 (2%) - 1 (2%) -
Total 42 $96M 63 $96M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Finland 40 (95%) 96M (100%) 59 (94%) 96M (100%)
United States 2 (5%) - 2 (3%) -
  Vermont 1 (2%) - 1 (2%) -
  California 1 (2%) - 1 (2%) -
Canada - - 1 (2%) -
  Ontario - - 1 (2%) -
Sweden - - 1 (2%) -
Total 42 $96M 63 $96M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 18 (43%) - 24 (38%) -
Growth Capital 13 (31%) - 20 (32%) -
Buyout (LBO, MBO, MBI) 3 (7%) - 9 (14%) -
Stake Purchase 3 (7%) 10M (11%) 5 (8%) 10M (11%)
Secondary Buyout 2 (5%) - 2 (3%) -
Divestiture 1 (2%) 86M (89%) 1 (2%) 86M (89%)
Consolidation 1 (2%) - 1 (2%) -
Recapitalization 1 (2%) - 1 (2%) -
Total 42 $96M 63 $96M

Exits by Deal Type

Type Total # Value
Trade Sale 9 (50%) -
Trade Sale - Public Company 6 (33%) 340M (100%)
Secondary Sale 2 (11%) -
Recapitalization 1 (6%) -
Total 18 $340M

Deal Values

buy # Total
< $100M 2 $96M
TOTAL $96M
Largest Pohjolan Design-Talo Oy
$86M (2011-01-21)
sell # Total
$100M to $1B 1 $214M
< $100M 3 $127M
TOTAL $340M
Largest Scandinavian Minerals Ltd.
$214M (2008-04-21)

M&A Connections

Deals %
Acquired from
PE Firm(s)
50%
2 50%
Strategic(s)
50%
2 50%
Exited to
PE Firm(s)
20%
4 20%
Strategic(s)
80%
16 80%

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