M&A Deal Summary

Procuritas Capital Acquires Duett

On August 12, 2015, private equity firm Procuritas Capital acquired internet software and services company Duett from VIA equity and Armada

Acquisition Highlights
  • This is Procuritas Capital’s 1st transaction in the Internet Software and Services sector.
  • This is Procuritas Capital’s 3rd transaction in Norway.
Investment Fate
  • Duett was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2015-08-12
Target Duett
Sector Internet Software and Services
Buyer(s) Procuritas Capital
Sellers(s) VIA equity
Armada
Deal Type Secondary Buyout

Target

Duett

Tynset, Norway
Duett is a provider of SaaS solutions to professional accounting offices and their clients in Scandinavia. The company provides complete financial systems and operating solutions to a range of industries and companies with market leadership positions in agriculture, construction and real estate with more than 20,000 unique users. Duett was founded in 1982 and is based in Tynset, Norway.

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Buyer(S) 1

Buyer

Procuritas Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 1.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Procuritas Capital is a private equity firm focused on acquiring middle-market Nordic companies. Procuritas Capital does not have any sector preferences and generally seeks to acquire businesses with €15 to €100 million in revenue valued up to €100 million. Target acquisition characteristics include strong management in place, opportunities for growth, and unique products/services. Procuritas Capital was established in 1986 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 22 of 44
Sector: Internet Software and Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 2
Country: Norway M&A 3 of 6
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Osby Glas

Osby, Sweden

Osby Glas is a provider of flat glass products to primarily glaziers and window and door manufacturers. Osby Glas was founded in 1934 and is based in Osby, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 Perimeter Protection Group

Salzkotten, Germany

Perimeter Protection Group GmbH is a supplier of products for perimeter security and access control of vehicles and pedestrians. Perimeter Protection Group was formed in 1951 and is based in Salzkotten, Germany.

Sell -

Seller(S) 2

SELLER

VIA equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

VIA equity a/s is a private equity firm focused on buyouts and growth capital investments in Northern European companies. VIA can commit up to €35 million per investment and seeks companies generating revenues of €10 to €100 million. VIA will consider investing across a range of sectors, however, the Firm prefers opportunities in the technology, media, and telecom industries. VIA equity was formed in 2006 and is based in Hellerup, Denmark.


DEAL STATS #
Overall 10 of 30
Sector: Internet Software and Services M&A 2 of 3
Type: Secondary Buyout M&A Deals 4 of 10
Country: Norway M&A 3 of 4
Year: 2015 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-28 Conscia

Brondby, Denmark

Conscia provides IT infrastructure solutions and 24/7 network, data centre and mobility support. Conscia builds and services some of Europe’s most complex IT security and networking infrastructures, and notably is recognised as one of the strongest integrators of Cisco solutions. Conscia was formed in 2003 and is based in Brondby, Denmark.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-18 Procom A/S

Frederikssund, Denmark

Procom A/S delivering specially designed antennas, filters and combiners to customers on a global basis.

Sell -
SELLER

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 6 of 14
Sector: Internet Software and Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 4
Country: Norway M&A 1 of 4
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-21 Admincontrol

Oslo, Norway

Admincontrol is a provider of cloud-based board portals and virtual data room solutions. Admincontrol offers web-based solutions as well as a separate iPad and iPhone app for secure interactions and easy sharing of documents in business processes such as board and management work, due diligence, capital injections, and stock exchange listings. Admincontrol was founded in 2005 and is based in Oslo, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 Olivia

Oslo, Norway

Olivia is an operator of restaurants by serving pasta and pizza dishes as well as various Italian food specialties. Olivia provides the best Italian-produced commodities and wine from smaller, family-run producers. Olivia was founded in 2006 and is based in Oslo, Norway.

Buy -