M&A Deal Summary

DNB Bank ASA Acquires Sbanken

On June 14, 2021, DNB Bank ASA acquired financial services company Sbanken from Altor Equity Partners

Acquisition Highlights
  • This is DNB Bank ASA’s 2nd transaction in the Financial Services sector.
  • This is DNB Bank ASA’s 3rd transaction in Norway.

M&A Deal Summary
Date 2021-06-14
Target Sbanken
Sector Financial Services
Buyer(s) DNB Bank ASA
Sellers(s) Altor Equity Partners
Deal Type Add-on Acquisition

Target

Sbanken

Bergen, Norway
Sbanken is an independent online bank in Nordics. Sbanken offers a comprehensive range of financial products and services to individuals and households in Norway within payments and card services, deposit-based savings, investment products, long-term and short-term loans. Sbanken was founded in 2000 and is based in Bergen, Norway.

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Buyer(S) 1

Buyer

DNB Bank ASA

Oslo, Norway
Category Company
Founded 1822
Sector Financial Services
Employees10,505
DESCRIPTION

DNB is Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. The Group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers. DNB’s bank branches in Norway, in-store postal and banking outlets, Post office counters, Internet banking, mobile services and international offices.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 1 of 1
Country (Norway) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 SpareBank 1 Forsikring/DNB Life Insurance - personal risk insurance

Oslo, Norway

SpareBank 1 Forsikring/DNB Life Insurance - personal risk insurance is a distributor of insurance via banks.

Buy -

Seller(S) 1

SELLER

Altor Equity Partners

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 8.3B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Altor Equity Partners is a private equity firm that looks to principally invest in medium-sized Nordic based companies across a broad range of industries. Altor typically seeks control positions when investing. Prospective companies generally have revenues of €50 to €500 million. Broad areas of interest include healthcare services, electronics, technology, financial services, business services, niche manufacturing, capital equipment, software, marine, consumer products, and communications. Altor Equity Partners was formed in 2003 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 35 of 43
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 20 of 24
Country (Norway) 13 of 15
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Toteme

Stockholm, Sweden

Toteme is an operator of a fashion label studio that creates ready-to-wear, shoes, bags, and accessories. Toteme appeal of a modern uniform through distinct design cues, meticulous craftsmanship, and methodic repetition. Pieces are subtly refined and tweaked over time for a well-curated wardrobe that transcends trends. Toteme employs a digital-first and direct-to-consumer business model which is mixed with selected online retailers and department stores. Toteme was founded in 2014 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-17 Multi-Wing

Vedbæk, Denmark

Multi-Wing specializes in design and assembly of tailor-made axial fan products for HVAC/R and engine cooling applications. Multi-Wing offers custom-designed axial fans with more than 100,000 possible configurations and tailored one-piece-molded options and has a strong diversified blue-chip customer base, including leading off-highway vehicle and HVAC/R OEMs. Multi-Wing was founded in 1938 and is based in Vedbæk, Denmark.

Buy -
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