Going Private • Financial Services

VIA equity, Advent International, Bain Capital Private Equity and ATP Private Equity Partners Acquire Nets

On March 24, 2014, private equity firms VIA equity, Advent International, Bain Capital Private Equity and ATP Private Equity Partners acquired financial services company Nets for 17.0B DKK

Acquisition Context
  • This is VIA equity’s 1st, Advent International’s 21st, Bain Capital Private Equity’s 3rd and ATP Private Equity Partners’ 1st transaction in the Financial Services sector.
  • This is VIA equity’s , Advent International’s 13th, Bain Capital Private Equity’s 25th and ATP Private Equity Partners’ 9th largest (disclosed) transaction.
  • This is VIA equity’s 11th, Advent International’s 4th, Bain Capital Private Equity’s 1st and ATP Private Equity Partners’ 3rd transaction in Denmark.
Investment Fate
  • Nets went public in 2016.
  • Nets was sold to a consortium of financial buyers in 2017 for 33.1B DKK.
  • Nets merged with another company in 2021.

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M&A Deal Summary

Date March 24, 2014
Target Nets
Sector Financial Services
Buyer(s) VIA equity
Advent International
Bain Capital Private Equity
ATP Private Equity Partners
Deal Type Going Private
Deal Value 17.0B DKK
Advisor(s) J.P. Morgan Securities (Financial)

Target Company

Nets

Ballerup, Denmark
Nets is a payments processing utility for the Nordics region. Nets connects banks, businesses, public sector organizations, merchants and consumers through an international network facilitating digital payments. Nets was founded in 1968 and is based in Ballerup, Denmark.
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Buyers Overview 4

Buyer

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 Context for Buyer #
Overall 19 of 44
Sector: Financial Services 1 of 1
Type: Going Private 1 of 1
Country: Denmark 11 of 27
Year: 2014 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 ePocket Solutions AS

Oslo, Norway

ePocket Solutions AS is a provider of FSM software to small and mid-sized businesses (SMB), and large enterprise customers throughout Northern Europe. The company’s main products are it’s enterprise software suite Handyman and its SMB-focused SaaS offering WPA Mobile. ePocket targets a broad range of industries that deploy substantial service and engineering resources in the field, including electricians, heating, ventilation and air conditioning (HVAC), facilities management, telecom and construction as well as the oil and gas sector. ePocket was formed in 1985 and is headquartered in Oslo, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-01 ComActivity AB

Stockholm, Sweden

ComActivity AB is a enterprise software vendor focused on developing business solutions that develop upon and streamline companies’ existing business applications. ComActivity's solutions are built on a service-oriented architecture, a model driven development method and graphical workflow.

Sell -
Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 208 of 353
Sector: Financial Services 21 of 36
Type: Going Private 9 of 23
Country: Denmark 4 of 5
Year: 2014 1 of 13
Size (of disclosed) 13 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-13 ISIDA

Ukraine

ISIDA is a comprehensive obstetric and gynecological clinic that unites a hospital and three outpatient polyclinic centers. ISIDA clinics specialize in the treatment of infertility, obstetrics, gynecology, mammology, and pediatrics up to 18 years of age. ISIDA was founded in 1994 and is based in Ukraine.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-02 Connolly

Atlanta, Georgia, United States

Connolly is a provider of technology-enabled recovery audit services in the United States, Europe, and Canada.

Sell -
Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


Deal Context for Buyer #
Overall 120 of 253
Sector: Financial Services 3 of 8
Type: Going Private 13 of 25
Country: Denmark 1 of 1
Year: 2014 4 of 9
Size (of disclosed) 25 of 75
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-24 Notre Dame Intermédica

Sao Paulo, Brazil

Notre Dame Intermédica is an operator of corporate health plans in Brazil. Notre Dame Intermédica's operating subsidiaries include Intermedica, a provider of integrated medical plans, Interodonto, a provider of dental plan, Notre Dame, a health insurer, and RH Vida, a provider of occupational health services to large corporations. Over the past 40 years, the companies of GNDI have grown substantially and today are an essential part of the health system in Brazil. With a focus on health promotion, disease prevention and an integrated system of medical services, Notre Dame Intermédica has demonstrated that high quality healthcare can be offered at low cost and with excellent patient satisfaction. Notre Dame Intermédica was founded in 1968 and is based in São Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-22 Viewpoint Construction Software

Portland, Oregon, United States

Viewpoint, Inc. is a provider of software solutions and services to the construction industry, meeting the collaboration and information needs of a variety of professionals including small, medium, large and enterprise contractors. Viewpoint, Inc. was established in 1976 and is based in Portland, Oregon.

Buy -
Buyer

ATP Private Equity Partners


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

ATP Private Equity Partners is a Danish institutional investment firm focused on investing in private equity funds across Europe, North America, and select emerging markets. The Firm is supported by ATP, Denmark's largest pension fund. In addition to investing in private equity funds, ATP also looks to for co-investment situations. ATP Private Equity Partners was formed in 2001 and is headquartered in Copenhagen, Denmark.


Deal Context for Buyer #
Overall 25 of 44
Sector: Financial Services 1 of 1
Type: Going Private 2 of 4
Country: Denmark 3 of 6
Year: 2014 1 of 4
Size (of disclosed) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-17 Grupo Corporativo ONO S.A.

Madrid, Spain

Grupo Corporativo ONO S.A. is a broadband service provider. It offers direct access telephony, pay television and internet access services to the residential market where, ONO offers advanced voice, data and value-added services across its own high capacity local access and national backbone networks.

Sell €7.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-06 Screenvision Cinema Network

New York, New York, United States

Screenvision is a national leader in cinema advertising, offering on-screen advertising, in-lobby promotions and integrated marketing programs to national, regional and local advertisers and providing comprehensive cinema advertising representation services for its theatrical exhibitor partners.

Sell $375M