M&A Deal Summary

Norvestor Equity AS and Armada Acquire Smartvatten

On February 26, 2021, private equity firm Norvestor Equity AS and mezzanine finance firm Armada acquired internet software and services company Smartvatten

Acquisition Highlights
  • This is Norvestor Equity AS’s 6th and Armada’s 4th transaction in the Internet Software and Services sector.
  • This is Norvestor Equity AS’s 2nd and Armada’s 6th transaction in Finland.

M&A Deal Summary

Date 2021-02-26
Target Smartvatten
Sector Internet Software and Services
Buyer(s) Norvestor Equity AS
Armada
Deal Type Buyout (LBO, MBO, MBI)

Target

Smartvatten

Espoo, Finland
Smartvatten is a hardware-enabled SaaS company providing its customers with a complete solution for real-time monitoring and reporting of water consumption in buildings. The company's customers reduce their water costs and the risk of water-related damage while improving their sustainability performance. Its algorithm-based software analyze water consumption data from mechanical, digital, and IoT-enabled water meters in a cloud environment to identify consumption patterns and detect leakages. Smartvatten was founded in 2013 and is based in Espoo, Finland.

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Buyer(S) 2

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 70 of 85
Sector: Internet Software and Services M&A 6 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 48 of 59
Country: Finland M&A 2 of 4
Year: 2021 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-28 Pearl

Oslo, Norway

Pearl is a Customer Experience and Enterprise Recourse Planning partner providing one-stop IT solutions and operations to Nordic corporations. Specialized in SAP, Pearl delivers leading cloud capabilities with certification from both AWS and Microsoft Azure. Pearl was founded in 2006 and based in Oslo, Norway

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-04 Permascand

Ljungaverk, Sweden

Permascand is an engineering and manufacturing company across the business areas of electrochemical process technology, water treatment systems and welded equipment & components. Permascand was founded in 1971 and is based in Ljungaverk, Sweden.

Sell -
Buyer

Armada

Helsinki, Finland

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Armada Mezzanine is an independent mezzanine firm focused on financing buyouts, recapitalizations, and expansions of small and medium-sized Nordic companies. Armada generally targets companies valued from €20 to €150 million with stable cash-flows, attractive growth opportunities, and sustainable competitive advantages. Sectors of interest include industrial products, services, and technology. Armada Mezzanine was established in 2000 and has offices in Helsinki and Stockholm.


DEAL STATS #
Overall 27 of 28
Sector: Internet Software and Services M&A 4 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 15 of 15
Country: Finland M&A 6 of 6
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-07 SPI Global Play

Malmo, Sweden

SPI Global Play is a European designer, manufacturer, and supplier of equipment for indoor playgrounds and other leisure-related activities. The company has a local presence in fifteen countries and a wide distributor base in twelve countries, together covering five continents. SPI Global Play was founded in 1974 and is based in Malmo, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 SmartCraft

Hønefoss, Norway

SmartCraft is a provider of ERP systems for craftsmen to make cost reduction, and efficiency improvement and made small and medium-sized businesses competitive. The SmartCraft system is a core to success for everyone in the entrepreneurial business, crafts, and trade. SmartCraft was formed in 1987 and is based in Hønefoss, Norway.

Sell -