M&A Deal Summary

Nordic Capital Acquires ProGlove

On May 4, 2022, private equity firm Nordic Capital acquired technology hardware company ProGlove from Summit Partners

Acquisition Highlights
  • This is Nordic Capital’s 1st transaction in the Technology Hardware sector.
  • This is Nordic Capital’s 9th transaction in Germany.

M&A Deal Summary

Date 2022-05-04
Target ProGlove
Sector Technology Hardware
Buyer(s) Nordic Capital
Sellers(s) Summit Partners
Deal Type Secondary Buyout

Target

ProGlove

Munich, Germany
ProGlove is a provider of industrial wearables, that offers a scanner glove designed to improve the efficiency and effectiveness of scanning processes used across the manufacturing, logistics, transportation, and eCommerce/retail sectors. ProGlove was founded in 2014 and is based in Munich, Germany.

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Buyer(S) 1

Buyer

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 124 of 142
Sector: Technology Hardware M&A 1 of 1
Type: Secondary Buyout M&A Deals 37 of 46
Country: Germany M&A 9 of 11
Year: 2022 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-21 Ascot Lloyd

Reading, United Kingdom

Ascot Lloyd is an independently-owned IFA firm that provides financial planning, wealth management, and corporate benefit solutions through over 130 IFAs serving more than 20,000 core clients. Ascot Lloyd was founded in 2003 and is based in Reading, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-16 Quant

Stockholm, Sweden

Quant is a multinational maintenance service provider, maintaining and improving the safety, production and equipment performance for over 400 facilities around the world. The company offers maintenance services within a wide range of industries, including pulp and paper, mining and minerals, chemicals, food and beverages. Quant is based in Stockholm, Sweden.

Sell -

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 275 of 298
Sector: Technology Hardware M&A 15 of 16
Type: Secondary Buyout M&A Deals 53 of 64
Country: Germany M&A 7 of 8
Year: 2022 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 18 Week Support

London, United Kingdom

18 Week Support is an insourcing provider to the NHS with clinical demand, capacity management, and waiting list initiatives across both outpatients and day-case surgery. It sees new patients, including virtual clinics, follow-up patients, and importantly performs a comprehensive range of day cases and some inpatient procedures, including Endoscopy. The company allows to significantly increase the number of patients seen, reducing waiting lists and meeting RTT expectations. 18 Week Support was formed in 2014 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-26 Salient Partners

Houston, Texas, United States

Salient Partners is an investment management firm and a recognized innovator in the development, management, and delivery of sophisticated, non-traditional investment solutions for both institutional and retail investors. Salient Partners is based in Houston, Texas.

Sell -