M&A Deal Summary

EQT Acquires Bluestep Bank

On July 28, 2017, private equity firm EQT acquired financial services company Bluestep Bank from Bregal Investments and EMK Capital

Acquisition Highlights
  • This is EQT’s 1st transaction in the Financial Services sector.
  • This is EQT’s 37th transaction in Sweden.

M&A Deal Summary

Date 2017-07-28
Target Bluestep Bank
Sector Financial Services
Buyer(s) EQT
Sellers(s) Bregal Investments
EMK Capital
Deal Type Secondary Buyout

Target

Bluestep Bank

Stockholm, Sweden
Bluestep Bank is a specialist mortgage provider in the Nordic region. The bank applies a differentiated approach to ​​serving customers and assessing their underlying creditworthiness. Instead of rigid underwriting criteria, Bluestep focuses on understanding ​each customer's situation and their future financial ability to service the debt. Bluestep Bank was founded in 2005 and is headquartered in Stockholm, Sweden.

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Buyer(S) 1

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 175 of 318
Sector: Financial Services M&A 1 of 4
Type: Secondary Buyout M&A Deals 41 of 101
Country: Sweden M&A 37 of 55
Year: 2017 M&A 14 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-26 InspirED

London, United Kingdom

InspirED provides a fresh and contemporary approach to education by re-evaluating traditional teaching methods and curriculums and creating a more dynamic, relevant and powerful model reflecting current attitudes. InspirED was founded in 1996 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 ILA Vietnam

Ho Chi Minh City, Vietnam

ILA Vietnam is a premium English Learning Teaching (ELT) service provider in Vietnam. The company offers overseas study consultancy, teacher training services, and corporate English training. ILA Vietnam was founded in 2000 and is based in Ho Chi Minh City, Vietnam.

Buy -

Seller(S) 2

SELLER

Bregal Investments

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 7.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Bregal Investments LLP is a private equity firm focused on buyouts and growth capital financings of middle-market companies. Bregal Investments targets equity investments between €30 and €150 million in companies valued in excess of €75 million. Bregal is based in London.


DEAL STATS #
Overall 12 of 16
Sector: Financial Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 7
Country: Sweden M&A 1 of 1
Year: 2017 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 QA

London, United Kingdom

QA is an independent provider of IT professional and personal development skills training with more than 240 instructors delivering over 1,200 different courses across 26 centers throughout the UK. QA Group is comprised of four fast-growing divisions- QA Learning, QA Apprenticeships, QA Consulting and QA Higher Education- all of which deliver innovative and cutting edge skills solutions to UK organisations. QA was founded in 1985 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-16 Reconomy

Shropshire, United Kingdom

Reconomy is an outsourced waste service provider that operates nationwide waste management, compliance, and recycling services, delivering enhanced environmental and financial performance for its customers. Reconomy is based in Shropshire, United Kingdom.

Sell -
DESCRIPTION

EMK Capital LLP is a private investment firm focused on majority investments in the business services, consumer, and industrials sectors. EMK Capital is a hands-on investor and looks to commit up to £100 million per platform investment. EMK Capital is based in London.


DEAL STATS #
Overall 1 of 3
Sector: Financial Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Sweden M&A 1 of 1
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 Whittan

Shropshire, United Kingdom

Whittan is a manufacturer of steel storage products. Whittan manufactures, sells, and distributes three core products pallet racking, shelving, and lockers, to a wide range of customers. Whittan was founded in 1951 and is based in Shropshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-10 Bright Data

Netanya, Israel

Bright Data is an enterprise IP proxy network that helps make the Web more transparent by allowing businesses to see the internet from the consumers’ point of view. Bright Data was established in 2014 and is based in Netanya, Israel.

Buy $200M