M&A Deal Summary

Intermediate Capital Group Acquires Iver

On July 2, 2021, mezzanine finance firm Intermediate Capital Group acquired information technology company Iver from EQT

Acquisition Highlights
  • This is Intermediate Capital Group’s 4th transaction in the Information Technology sector.
  • This is Intermediate Capital Group’s 11th transaction in Sweden.

M&A Deal Summary

Date 2021-07-02
Target Iver
Sector Information Technology
Buyer(s) Intermediate Capital Group
Sellers(s) EQT
Deal Type Secondary Buyout

Target

Iver

Stockholm, Sweden
Iver is a Swedish managed IT services provider with capabilities for full IT outsourcing, providing their clients with contracted services, including hosting, cloud, and application management. Iver has managed to build strong customer relationships in Sweden and Norway by combining dedicated customer focus with high-quality IT solutions. Iver was formed in 2018 and is based in Stockholm, Sweden.

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Buyer(S) 1

Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 278 of 293
Sector (Information Technology) 4 of 6
Type (Secondary Buyout) 107 of 115
Country (Sweden) 11 of 11
Year (2021) 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Godt Smil Holding

Horsens, Denmark

Godt Smil Holding is own and operates dental chain with more than 180 dental chairs in 29 state-of-the-art clinics. Godt Smil Holding is based in Horsens, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Infra Group

Temse, Belgium

Infra Group provides design, installation, improvement, and maintenance of distribution networks; and offers full turnkey solutions and services to telecommunications, electricity, gas, heating and water operators and local authorities in Belgium. Infra Group was founded in 1966 and is based in Temse, Belguim.

Buy -

Seller(S) 1

SELLER

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 147 of 190
Sector (Information Technology) 9 of 14
Type (Secondary Buyout) 43 of 58
Country (Sweden) 33 of 35
Year (2021) 10 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Unilode

Kloten, Switzerland

Unilode engages in pooling, management, maintenance, and repair of unit load devices (ULDs) for the aviation industry. The company owns and manages the world’s largest independent fleet of approximately 125,000 ULDs and owns the largest global network for the maintenance and repair of ULDs and galley carts. Unilode was founded in 2011 and is based in Kloten, Switzerland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-03 Cypress Creek Renewables

Santa Monica, California, United States

Cypress Creek Renewables is a developer and long-term owner of solar energy projects with development assets in markets across the United States. Their business model is focused on utility-scale ground mount projects from 2-20MW AC in capacity. Cypress Creek Renewables was founded in 2014 and is based in Santa Monica, California.

Buy -