M&A Deal Summary

Marlin Equity Partners Acquires Puzzel

On May 6, 2019, private equity firm Marlin Equity Partners acquired internet software and services company Puzzel from Herkules Capital

Acquisition Highlights
  • This is Marlin Equity Partners’ 19th transaction in the Internet Software and Services sector.
  • This is Marlin Equity Partners’ 1st transaction in Norway.

M&A Deal Summary
Date 2019-05-06
Target Puzzel
Sector Internet Software and Services
Buyer(s) Marlin Equity Partners
Sellers(s) Herkules Capital
Deal Type Secondary Buyout

Target

Puzzel

Oslo, Norway
Puzzel is a provider of cloud-based contact center software to support smaller enterprises and global corporations. Puzzel was founded in 2016 and is based in Oslo, Norway.

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Buyer(S) 1

Buyer

Marlin Equity Partners

Hermosa Beach, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Marlin Equity's headquarters in Hermosa Beach, California.
Marlin Equity's headquarters in Hermosa Beach, California.

Marlin Equity Partners is a private investment firm focused on acquiring distressed businesses with sales of $10 million to $2 billion. Marlin has a special interest in non-core or underperforming divisions of larger corporations, as well as companies facing some sort of financial, operational or market-related transition. Marlin is a generalist investor and will consider opportunities in technology (software, IT, payment systems, hardware, communications, internet), healthcare, consumer (apparel, retail, consumer products, food/beverage), services (business, financial, consumer, education), manufacturing (automotive, industrial, metals, plastics), aerospace, defense, and media. Marlin prefers businesses with scalable business models, strong installed customer bases, defensible market positions, and barriers to entry. Marlin Equity Partners was formed in 2005 and is based in Hermosa Beach, California with an additional office in London.

DEAL STATS #
Overall 76 of 116
Sector (Internet Software and Services) 19 of 40
Type (Secondary Buyout) 10 of 22
Country (Norway) 1 of 2
Year (2019) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-16 Skuid

Chattanooga, Tennessee, United States

Skuid is a no-code, design-first, extensible cloud application development platform for rapidly creating and optimizing enterprise applications. Skuid's simple-to-use and robust front-end design-and-deploy cloud platform allows customers to connect to disparate data sources, assemble highly complex, made-to-order applications, and instantly make changes all without writing code. Skuid was founded in 2013 and is based in Chattanooga, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-20 EditShare

Watertown, Massachusetts, United States

EditShare offers networked shared storage and tapeless, end-to-end workflow solutions for the post-production, TV and film industries. EditShare groundbreaking products improve efficiency and workflow collaboration every step of the way. EditShare includes video capture and playout servers, high-performance EFS central shared storage, AQC, archiving and backup software, media asset management, and Lightworks – the world’s first three-platform (Windows/OS X/Linux) professional non-linear video editing application. EditShare was established in 2003 and is based in Watertown, Massachusetts.

Buy -

Seller(S) 1

SELLER

Herkules Capital

Oslo, Norway

Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 15.1B NOK
Size Large
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 24 of 34
Sector (Internet Software and Services) 2 of 2
Type (Secondary Buyout) 9 of 10
Country (Norway) 19 of 28
Year (2019) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Stamina Group

Oslo, Norway

Stamina Group focused on providing occupational health services (OHS) with operations in Norway and Sweden. Stamina help employers to promote health and increase productivity through preemptive health and working environment programs. The company works systematically to identify organizational health issues and help its customers to create healthy work environments and strengthen the individual with the goal to reduce psychosocial related absence. Stamina Group is based in Oslo, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 Seagull

Horten, Norway

Seagull is a provider of technology-enabled training and compliance tools for the maritime, oil and gas industries. Seagull was founded in 1996 and is based in Horten, Norway.

Sell -
Mergr

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