Investment Summary

Permira, HarbourVest Partners and Silver Lake Invest In Klarna

On July 21, 2017, private equity firms Permira, HarbourVest Partners and Silver Lake invested in information technology company Klarna from General Atlantic and DST Global Solutions

Investment Highlights
  • This is Permira’s 5th, HarbourVest Partners’ 20th and Silver Lake’s 13th transaction in the Information Technology sector.
  • This is Permira’s 2nd, HarbourVest Partners’ 3rd and Silver Lake’s 1st transaction in Sweden.

Investment Summary

Date 2017-07-21
Target Klarna
Sector Information Technology
Investor(s) Permira
HarbourVest Partners
Silver Lake
Sellers(s) General Atlantic
DST Global Solutions
Deal Type Stake Purchase

Target

Klarna

Stockholm, Sweden
Entrance to Klarna's corporate headquarters in central Stockholm.
Entrance to Klarna's corporate headquarters in central Stockholm.
Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

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Investor(S) 3

Investor

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 111 of 159
Sector (Information Technology) 5 of 10
Type (Stake Purchase) 7 of 10
Country (Sweden) 2 of 3
Year (2017) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-18 DiversiTech

Duluth, Georgia, United States

DiversiTech is an aftermarket manufacturer and distributor of components for residential and light commercial heating, ventilating, air conditioning, and refrigeration (‘HVACR’). DiversiTech was founded in 1971 and is based in Duluth, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-07 Netafim

Tel Aviv, Israel

Netafim Ltd. is a provider of smart drip and micro irrigation solutions for sustainable agriculture and other applications for over 100 countries and holds c.30% share of the global market.

Sell $1.9B
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 160 of 223
Sector (Information Technology) 20 of 25
Type (Stake Purchase) 4 of 7
Country (Sweden) 3 of 3
Year (2017) 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-18 Lightower Fiber Networks

Boxborough, Massachusetts, United States

Lightower Fiber Networks LLC is a fiber network and broadband service provider in the Northeast, offering over 4,600 fiber route miles coupled with comprehensive transport, alternative access, and nationwide long haul services.

Sell $7.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 ista International

Essen, Germany

ista International GmbH sells a range of meter hardware and also provides a comprehensive package of related services such as meter installation, meter reading, billing, data processing, and maintenance. ista International GmbH was formed in 1999 and is based in Essen, Germany.

Sell -
Investor

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 89 of 135
Sector (Information Technology) 13 of 19
Type (Stake Purchase) 8 of 17
Country (Sweden) 1 of 1
Year (2017) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 A Place for Mom

Seattle, Washington, United States

A Place for Mom is a provider of online referrals for senior communities, providing families with resources and personalized assistance in finding senior living options. A Place for Mom was founded in 2000 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-15 Peloton

Calgary, Alberta, Canada

Peloton is a provider of well data software solutions to the oil and gas industry. Peloton’s software helps oil and gas companies focus their operations and improve their strategic decision-making through better data management during the entire lifecycle of a well, including drilling, well operations, and production. Peloton was founded in 1991 and is based in Calgary, Alberta.

Buy -

Seller(S) 2

SELLER

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 88 of 146
Sector (Information Technology) 17 of 26
Type (Stake Purchase) 8 of 9
Country (Sweden) 1 of 1
Year (2017) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 A Place for Mom

Seattle, Washington, United States

A Place for Mom is a provider of online referrals for senior communities, providing families with resources and personalized assistance in finding senior living options. A Place for Mom was founded in 2000 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-04 Karvy Computershare

Huntsville , Alabama, United States

Karvy Computershare is a provider of investor and issuer services for the asset management industry by offering its services through its branch network in over 200 locations. Karvy Computershare was founded in 1995 and is based in Huntsville, Alabama.

Buy -
SELLER

DST Global Solutions

Surbiton, United Kingdom

Category Company
Founded 1983
Sector Software
DESCRIPTION

DST Global Solutions Ltd. is a provider of software sophisticated information processing and servicing solutions to companies around the world.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Stake Purchase) 1 of 1
Country (Sweden) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-09 Klarna

Stockholm, Sweden

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

Buy -