M&A Deal Summary

Norvestor Equity AS Acquires BST

On November 8, 2021, private equity firm Norvestor Equity AS acquired safety/security company BST from IK Partners

Acquisition Highlights
  • This is Norvestor Equity AS’s 2nd transaction in the Safety/Security sector.
  • This is Norvestor Equity AS’s 14th transaction in Sweden.

M&A Deal Summary

Date 2021-11-08
Target BST
Sector Safety/Security
Buyer(s) Norvestor Equity AS
Sellers(s) IK Partners
Deal Type Secondary Buyout

Target

BST

Hägersten, Sweden
BST is a full-service provider of active fire protection services with a market leading position in Sweden. The Company’s mission is to protect people, societies and its vital functions by offering fire engineering and consultancy services, installation of fire protection systems and aftermarket and refurbishment services. BST was founded in 2012 and is based in Hägersten, Sweden.

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Buyer(S) 1

Buyer

Norvestor Equity AS

Oslo, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 2.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Norvestor Equity is an independent private equity group focused on opportunities throughout Norway and the nearby Nordic region. Norvestor generally looks to acquire control positions in businesses with strong market positions, clear potential for sales and earnings growth, and motivated management. Sectors of interest include engineering/technology, food/beverage, IT, telecommunications, maritime equipment, oil services, power/energy, retail, and services/outsourcing. The Firm's investment size is €10 to €45 million in companies with enterprise values of €20 to €125 million. Norvestor Equity is based in Oslo with an additional office in Stockholm.


DEAL STATS #
Overall 72 of 80
Sector (Safety/Security) 2 of 2
Type (Secondary Buyout) 6 of 8
Country (Sweden) 14 of 15
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-23 Apsis

Malmo, Sweden

Apsisis a provider of solutions for creating, customizing, sending and tracking permission-based email newsletters in the Nordic region. Apsis uses a proprietary Software-as-as-Service (SaaS)-based platform technology to enable its customers to conduct highly effective marketing campaigns through email and other digital marketing channels. Apsis was founded in 2001 and is based in Malmo, sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Pinja

Jyvaskyla, Finland

Pinja is an engineering company specializing in industrial automation, software and digitalization services. Pinja was founded in 1990 and is based in Jyvaskyla, Finland.

Buy -

Seller(S) 1

SELLER

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Ik Investment Partners Ltd. (Formerly Industri Kapital) is a private equity firm that targets control investments in mid-sized manufacturing and service companies located in select European countries. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The firm looks to commit €50 to €150 million of equity capital per transaction and targets companies with 'a proven ability to generate significant cash flow' as well as an ability to 'sustain growth through various economic cycles'. IK Investment Partners was formerly known as Industry Kapital. IK Investment Partners was formed in 1989 and has offices in Hamburg, London, Paris, and Stockholm.


DEAL STATS #
Overall 97 of 119
Sector (Safety/Security) 4 of 4
Type (Secondary Buyout) 38 of 50
Country (Sweden) 27 of 31
Year (2021) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 NEVERHACK

Guyancourt, France

NEVERHACK is a provider of IT and cybersecurity services. NEVERHACK will serve large private groups and government agencies to provide solutions for their critical security needs and will offer an e-learning platform aimed at upskilling or reskilling IT, network and cyber professionals. NEVERHACK is based in Guyancourt, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Truesec

Stockholm, Sweden

Truesect is an independent cybersecurity service provider with a purpose to prevent and reduce impact from cyberattacks, making a true difference to today’s connected society. This purpose, coupled with its strong culture and diverse opportunities, ensures that Truesec successfully attracts the best talent in the cybersecurity industry. Truesect was founded in 2005 and is based in Stockholm, Sweden.

Buy -